AIA Group Ltd Reduces Position in The Trade Desk, Inc. (NASDAQ:TTD)

AIA Group Ltd reduced its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 6.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 47,095 shares of the technology company’s stock after selling 3,210 shares during the quarter. AIA Group Ltd’s holdings in Trade Desk were worth $5,535,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Trade Desk by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company’s stock worth $5,015,035,000 after buying an additional 253,137 shares during the last quarter. Norges Bank purchased a new position in shares of Trade Desk during the fourth quarter worth $524,187,000. FMR LLC lifted its position in Trade Desk by 1.3% during the third quarter. FMR LLC now owns 2,616,203 shares of the technology company’s stock valued at $286,867,000 after purchasing an additional 32,999 shares during the period. Bank of New York Mellon Corp boosted its holdings in Trade Desk by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,019,707 shares of the technology company’s stock valued at $237,376,000 after purchasing an additional 5,080 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Trade Desk during the 4th quarter worth about $231,570,000. 67.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Trade Desk

In related news, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the transaction, the insider now directly owns 90,709 shares in the company, valued at $10,754,459.04. The trade was a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on TTD shares. Truist Financial lowered their target price on Trade Desk from $155.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Cfra Research upgraded Trade Desk to a “moderate buy” rating in a research report on Tuesday, March 25th. Wells Fargo & Company cut their target price on shares of Trade Desk from $142.00 to $101.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Wolfe Research increased their price target on shares of Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, JMP Securities decreased their price objective on shares of Trade Desk from $150.00 to $115.00 and set a “market outperform” rating for the company in a research report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $116.41.

Trade Desk Stock Performance

NASDAQ TTD opened at $55.85 on Monday. The Trade Desk, Inc. has a fifty-two week low of $53.39 and a fifty-two week high of $141.53. The firm has a market capitalization of $27.71 billion, a P/E ratio of 71.60, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The stock’s fifty day moving average is $85.01 and its two-hundred day moving average is $108.42.

Trade Desk (NASDAQ:TTD) last announced 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 net margin of 16.08% and a return on equity of 16.38%. As a group, sell-side analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk declared that its board has approved a share repurchase program on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Trade Desk Company Profile

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.