Bell Bank Trims Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Bell Bank decreased its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 2.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,469 shares of the technology company’s stock after selling 181 shares during the quarter. Bell Bank’s holdings in Trade Desk were worth $760,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of TTD. Harbor Investment Advisory LLC boosted its holdings in shares of Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after purchasing an additional 117 shares during the last quarter. Synergy Asset Management LLC acquired a new stake in shares of Trade Desk in the fourth quarter valued at $34,000. Exchange Traded Concepts LLC acquired a new position in Trade Desk during the 4th quarter worth about $35,000. Kestra Investment Management LLC purchased a new stake in Trade Desk during the fourth quarter worth about $39,000. Finally, Avior Wealth Management LLC boosted its stake in shares of Trade Desk by 37.7% in the third quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock valued at $40,000 after purchasing an additional 100 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Price Performance

NASDAQ TTD opened at $72.06 on Friday. The business has a 50 day moving average price of $115.27 and a 200 day moving average price of $114.88. The company has a market capitalization of $35.57 billion, a P/E ratio of 92.38, a PEG ratio of 3.11 and a beta of 1.45. The Trade Desk, Inc. has a 1-year low of $71.61 and a 1-year high of $141.53.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. On average, research analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in shares. This repurchase authorization allows the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Trade Desk

In related news, insider Jay R. Grant sold 18,524 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the sale, the insider now owns 169,464 shares of the company’s stock, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the completion of the transaction, the chief executive officer now owns 704,229 shares in the company, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock valued at $5,004,296 over the last quarter. Corporate insiders own 9.72% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Piper Sandler reissued an “overweight” rating and set a $110.00 target price (down from $140.00) on shares of Trade Desk in a research note on Thursday, February 13th. Morgan Stanley cut their target price on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Citigroup decreased their target price on Trade Desk from $140.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Royal Bank of Canada cut their price objective on shares of Trade Desk from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, JMP Securities lowered their target price on shares of Trade Desk from $150.00 to $115.00 and set a “market outperform” rating for the company in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $119.45.

About Trade Desk

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company offers a self-service cloud-based platform that allows buyers to plan, manage, optimize, and measure data-driven digital advertising campaigns across various ad formats and channels, including video, display, audio, digital-out-of-home, native, and social on various devices, such as computers, mobile devices, televisions, and streaming devices.