CIBC Private Wealth Group LLC Sells 15,190 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

CIBC Private Wealth Group LLC lowered its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 2.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 665,543 shares of the technology company’s stock after selling 15,190 shares during the period. CIBC Private Wealth Group LLC’s holdings in Trade Desk were worth $80,877,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of TTD. Norges Bank acquired a new position in shares of Trade Desk in the fourth quarter worth approximately $524,187,000. Raymond James Financial Inc. acquired a new position in shares of Trade Desk in the 4th quarter worth approximately $231,570,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Trade Desk in the 4th quarter worth approximately $100,658,000. National Pension Service increased its position in shares of Trade Desk by 104.1% during the fourth quarter. National Pension Service now owns 1,264,985 shares of the technology company’s stock worth $148,674,000 after buying an additional 645,240 shares during the period. Finally, Wellington Management Group LLP raised its stake in Trade Desk by 55.3% during the third quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company’s stock worth $169,892,000 after buying an additional 551,925 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Price Performance

Shares of Trade Desk stock opened at $55.85 on Monday. The firm has a market cap of $27.71 billion, a PE ratio of 71.60, a P/E/G ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 1 year low of $53.39 and a 1 year high of $141.53. The stock has a fifty day moving average price of $85.01 and a 200-day moving average price of $108.42.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. As a group, equities analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its board has authorized a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in shares. This repurchase authorization allows the technology company to purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Trade Desk

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction on Tuesday, January 7th. The stock was 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 represents a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the sale, the insider now owns 90,709 shares in the company, valued at $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on TTD shares. KeyCorp cut their price target on shares of Trade Desk from $130.00 to $74.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. UBS Group raised their target price on Trade Desk from $116.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Citigroup lowered their target price on Trade Desk from $140.00 to $108.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Needham & Company LLC restated a “buy” rating and set a $145.00 price target on shares of Trade Desk in a report on Thursday, March 13th. Finally, Royal Bank of Canada decreased their price target on shares of Trade Desk from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Monday, March 17th. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.41.

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.