Principal Financial Group Inc. Has $6.64 Million Stock Position in The Trade Desk (NASDAQ:TTD)

Principal Financial Group Inc. reduced its holdings in The Trade Desk (NASDAQ:TTD - Free Report) by 32.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 121,312 shares of the technology company's stock after selling 58,246 shares during the quarter. Principal Financial Group Inc.'s holdings in Trade Desk were worth $6,638,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TTD. Investment Management Corp VA ADV acquired a new position in shares of Trade Desk during the 4th quarter valued at $25,000. Zions Bancorporation N.A. grew its holdings in shares of Trade Desk by 148.3% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock valued at $34,000 after buying an additional 175 shares in the last quarter. Alpine Bank Wealth Management acquired a new stake in Trade Desk during the first quarter valued at $35,000. Pinnacle Bancorp Inc. boosted its position in Trade Desk by 143.5% during the first quarter. Pinnacle Bancorp Inc. now owns 728 shares of the technology company's stock valued at $40,000 after purchasing an additional 429 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Trade Desk during the first quarter valued at $43,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Jeffrey Terry Green sold 26,684 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $80.03, for a total value of $2,135,520.52. Following the completion of the sale, the chief executive officer directly owned 17,018 shares in the company, valued at approximately $1,361,950.54. This trade represents a 61.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David B. Wells sold 28,638 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the completion of the sale, the director owned 66,985 shares of the company's stock, valued at $5,350,761.80. This trade represents a 29.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.72% of the company's stock.

Analyst Upgrades and Downgrades

TTD has been the subject of a number of analyst reports. Citigroup reaffirmed a "buy" rating on shares of Trade Desk in a research report on Tuesday. Oppenheimer lifted their price objective on Trade Desk from $75.00 to $80.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Guggenheim lowered their price target on Trade Desk from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Rosenblatt Securities upped their price objective on Trade Desk from $77.00 to $78.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Finally, Macquarie upped their price objective on Trade Desk from $90.00 to $92.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Eight equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat.com, Trade Desk has an average rating of "Moderate Buy" and an average target price of $98.03.

Trade Desk Price Performance

TTD stock traded up $0.73 during trading hours on Wednesday, reaching $81.13. 22,377,531 shares of the stock were exchanged, compared to its average volume of 6,650,265. The firm's 50-day moving average is $72.86 and its 200-day moving average is $77.69. The company has a market cap of $39.87 billion, a price-to-earnings ratio of 98.94, a PEG ratio of 3.46 and a beta of 1.36. The Trade Desk has a 12 month low of $42.96 and a 12 month high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. Trade Desk had a return on equity of 15.41% and a net margin of 16.04%. The business had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. Trade Desk's revenue was up 25.4% on a year-over-year basis. As a group, equities research analysts forecast that The Trade Desk will post 1.06 earnings per share for the current year.

Trade Desk 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.