The Trade Desk, Inc. (NASDAQ:TTD) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE lifted its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 13.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,591,849 shares of the technology company's stock after acquiring an additional 418,911 shares during the period. Bank of America Corp DE owned 0.73% of Trade Desk worth $422,150,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of TTD. Synovus Financial Corp purchased a new stake in Trade Desk in the 3rd quarter valued at about $245,000. Franklin Resources Inc. lifted its holdings in shares of Trade Desk by 326.1% in the 3rd quarter. Franklin Resources Inc. now owns 509,495 shares of the technology company's stock worth $60,105,000 after acquiring an additional 389,917 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Trade Desk by 9.3% during the 4th quarter. GAMMA Investing LLC now owns 2,313 shares of the technology company's stock worth $272,000 after purchasing an additional 196 shares during the period. Nordea Investment Management AB increased its holdings in Trade Desk by 36.2% in the 4th quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company's stock valued at $159,132,000 after purchasing an additional 358,350 shares during the last quarter. Finally, Westwind Capital acquired a new position in Trade Desk during the fourth quarter worth $15,642,000. Institutional investors and hedge funds own 67.77% of the company's stock.

Wall Street Analysts Forecast Growth

TTD has been the topic of several research analyst reports. Robert W. Baird cut their price objective on Trade Desk from $160.00 to $145.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. BMO Capital Markets lowered their price objective on shares of Trade Desk from $160.00 to $115.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Rosenblatt Securities initiated coverage on shares of Trade Desk in a report on Tuesday, April 29th. They set a "buy" rating and a $77.00 target price on the stock. Citigroup dropped their price target on shares of Trade Desk from $70.00 to $63.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, Wells Fargo & Company lowered their target price on Trade Desk from $101.00 to $72.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. Seven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $100.84.

Trade Desk Stock Performance

NASDAQ:TTD traded up $0.83 during mid-day trading on Wednesday, hitting $56.46. 8,536,268 shares of the company's stock traded hands, compared to its average volume of 5,515,037. The Trade Desk, Inc. has a 1 year low of $42.96 and a 1 year high of $141.53. The firm's 50 day simple moving average is $54.69 and its 200 day simple moving average is $96.04. The company has a market cap of $28.01 billion, a PE ratio of 72.38, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its earnings results on Wednesday, February 12th. The technology company reported $0.36 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 has initiated a stock buyback program on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board believes its shares are undervalued.

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.