Bank of New York Mellon Corp Sells 371,690 Shares of The Trade Desk $TTD

Key Points

• Bank of New York Mellon cut its Trade Desk stake by 14.3% in the fourth quarter, selling 371,690 shares and ending with 2,229,946 shares worth about $84.6 million.
• Analyst sentiment has softened, with several firms lowering ratings and price targets; MarketBeat says the stock now has an average Hold rating and a $33.91 target price.
• Trade Desk recently missed earnings expectations, reporting $0.08 EPS versus $0.32 expected, though revenue came in slightly above estimates and was still up 11.8% year over year.

Bank of New York Mellon Corp lessened its stake in The Trade Desk (NASDAQ:TTD - Free Report) by 14.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,229,946 shares of the technology company's stock after selling 371,690 shares during the period. Bank of New York Mellon Corp owned approximately 0.46% of Trade Desk worth $84,649,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in TTD. Westpac Banking Corp boosted its stake in shares of Trade Desk by 66.2% during the 4th quarter. Westpac Banking Corp now owns 2,529 shares of the technology company's stock worth $96,000 after acquiring an additional 1,007 shares during the last quarter. AXQ Capital LP purchased a new position in shares of Trade Desk during the 4th quarter worth $279,000. BNP Paribas boosted its stake in shares of Trade Desk by 336.5% during the 4th quarter. BNP Paribas now owns 1,052 shares of the technology company's stock worth $40,000 after acquiring an additional 811 shares during the last quarter. New Mexico Educational Retirement Board boosted its stake in shares of Trade Desk by 2.0% during the 4th quarter. New Mexico Educational Retirement Board now owns 20,600 shares of the technology company's stock worth $782,000 after acquiring an additional 400 shares during the last quarter. Finally, MUFG Securities EMEA plc boosted its stake in shares of Trade Desk by 111.6% during the 4th quarter. MUFG Securities EMEA plc now owns 18,051 shares of the technology company's stock worth $685,000 after acquiring an additional 9,521 shares during the last quarter. Institutional investors own 67.77% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Truist Financial set a $35.00 price target on shares of Trade Desk and gave the stock a "buy" rating in a research note on Friday, May 8th. Loop Capital cut shares of Trade Desk from a "buy" rating to a "hold" rating and dropped their price target for the stock from $75.00 to $25.00 in a research note on Thursday, February 26th. New Street Research cut shares of Trade Desk from a "neutral" rating to a "sell" rating and set a $17.00 price target on the stock. in a research note on Thursday, February 26th. HSBC cut shares of Trade Desk from a "buy" rating to a "reduce" rating and set a $20.00 price target on the stock. in a research note on Monday, May 11th. Finally, Wells Fargo & Company set a $20.00 target price on shares of Trade Desk and gave the company an "equal weight" rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twenty-one have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $33.91.

Insider Buying and Selling

In other Trade Desk news, Director Samantha Jacobson sold 53,681 shares of the business's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $21.14, for a total value of $1,134,816.34. Following the sale, the director owned 13,099 shares in the company, valued at $276,912.86. The trade was a 80.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.41% of the stock is currently owned by insiders.

Trade Desk Stock Performance

TTD opened at $19.43 on Tuesday. The Trade Desk has a fifty-two week low of $19.10 and a fifty-two week high of $91.45. The firm's fifty day moving average is $22.01 and its 200 day moving average is $28.78. The stock has a market cap of $9.13 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 0.97 and a beta of 1.05.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its earnings results on Thursday, May 7th. The technology company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.24). The firm had revenue of $688.86 million for the quarter, compared to analysts' expectations of $678.87 million. Trade Desk had a net margin of 14.57% and a return on equity of 16.91%. The firm's quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 EPS. On average, equities research analysts predict that The Trade Desk will post 1.17 earnings per share for the current year.

Trade Desk announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 25th that authorizes the company to repurchase $350.00 million in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Trade Desk Company Profile

The Trade Desk, Inc NASDAQ: TTD is a technology company that provides a demand-side platform (DSP) for programmatic digital advertising. Its platform enables advertisers, agencies and other buyers to plan, purchase and measure ad inventory across digital channels, including display, video, mobile, audio, native and connected TV. By centralizing real‑time bidding, audience targeting and inventory access, the company aims to help clients optimize media spend and reach audiences at scale across publishers and ad exchanges.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk grew from a focus on programmatic display into a global ad‑tech provider.

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