Sunbelt Securities Inc. Reduces Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Sunbelt Securities Inc. lowered its stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 62.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,672 shares of the technology company's stock after selling 9,566 shares during the quarter. Sunbelt Securities Inc.'s holdings in Trade Desk were worth $682,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Trade Desk by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company's stock worth $5,015,035,000 after purchasing an additional 253,137 shares in the last quarter. Invesco Ltd. lifted its position in shares of Trade Desk by 2.6% during the fourth quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company's stock worth $930,477,000 after purchasing an additional 198,822 shares in the last quarter. Norges Bank acquired a new stake in shares of Trade Desk during the fourth quarter worth about $524,187,000. FMR LLC lifted its position in shares of Trade Desk by 44.8% during the fourth quarter. FMR LLC now owns 3,788,285 shares of the technology company's stock worth $445,237,000 after purchasing an additional 1,172,082 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Trade Desk by 13.2% during the fourth quarter. Bank of America Corp DE now owns 3,591,849 shares of the technology company's stock worth $422,150,000 after purchasing an additional 418,911 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TTD. Stifel Nicolaus reduced their target price on shares of Trade Desk from $122.00 to $87.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Wedbush reaffirmed an "outperform" rating and issued a $86.00 target price (up previously from $80.00) on shares of Trade Desk in a report on Friday, May 9th. Wells Fargo & Company reduced their target price on shares of Trade Desk from $101.00 to $72.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. Citizens Jmp reduced their target price on shares of Trade Desk from $115.00 to $100.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Finally, Jefferies Financial Group set a $125.00 price objective on shares of Trade Desk and gave the stock a "buy" rating in a report on Tuesday, April 29th. Seven analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $97.12.

Insider Buying and Selling at Trade Desk

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

Trade Desk Stock Down 2.0%

NASDAQ:TTD traded down $1.51 during midday trading on Friday, reaching $73.37. The stock had a trading volume of 1,404,141 shares, compared to its average volume of 6,001,485. The firm has a fifty day simple moving average of $59.58 and a two-hundred day simple moving average of $90.90. The Trade Desk, Inc. has a 12-month low of $42.96 and a 12-month high of $141.53. The stock has a market cap of $36.40 billion, a P/E ratio of 93.96, a P/E/G ratio of 3.11 and a beta of 1.29.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The firm had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. During the same period last year, the firm posted $0.26 EPS. Trade Desk's quarterly revenue was up 25.4% on a year-over-year basis. On average, sell-side analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its board has approved a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to buy up to 0.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is 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.