The Trade Desk, Inc. (NASDAQ:TTD) Stock Holdings Lifted by Toronto Dominion Bank

Toronto Dominion Bank raised its stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 11.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 63,701 shares of the technology company's stock after buying an additional 6,310 shares during the period. Toronto Dominion Bank's holdings in Trade Desk were worth $7,487,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in TTD. Hennion & Walsh Asset Management Inc. raised its stake in Trade Desk by 32.2% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 2,898 shares of the technology company's stock valued at $341,000 after purchasing an additional 706 shares during the period. Merit Financial Group LLC raised its stake in Trade Desk by 16.8% during the 4th quarter. Merit Financial Group LLC now owns 6,870 shares of the technology company's stock valued at $807,000 after purchasing an additional 989 shares during the period. Arkadios Wealth Advisors raised its stake in Trade Desk by 37.3% during the 4th quarter. Arkadios Wealth Advisors now owns 3,778 shares of the technology company's stock valued at $444,000 after purchasing an additional 1,027 shares during the period. Diversify Advisory Services LLC raised its stake in Trade Desk by 6.7% during the 4th quarter. Diversify Advisory Services LLC now owns 4,150 shares of the technology company's stock valued at $493,000 after purchasing an additional 259 shares during the period. Finally, UMB Bank n.a. increased its stake in shares of Trade Desk by 52.1% in the fourth quarter. UMB Bank n.a. now owns 774 shares of the technology company's stock worth $91,000 after acquiring an additional 265 shares during the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Trade Desk from $101.00 to $72.00 and set an "overweight" rating on the stock in a research note on Monday, March 31st. UBS Group dropped their price target on shares of Trade Desk from $116.00 to $80.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Needham & Company LLC reaffirmed a "buy" rating and issued a $84.00 price target on shares of Trade Desk in a research note on Thursday, May 15th. JMP Securities dropped their price target on shares of Trade Desk from $115.00 to $100.00 and set a "market outperform" rating on the stock in a research note on Friday, May 9th. Finally, HSBC set a $75.00 price target on shares of Trade Desk and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.12.

Trade Desk Stock Performance

Shares of NASDAQ:TTD opened at $74.47 on Thursday. The company has a market cap of $36.94 billion, a P/E ratio of 95.47, a P/E/G ratio of 3.11 and a beta of 1.29. The stock's 50-day moving average is $57.31 and its 200-day moving average is $92.97. The Trade Desk, Inc. has a 52-week low of $42.96 and a 52-week high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.07. The company had revenue of $616.02 million for the quarter, compared to the consensus estimate of $575.62 million. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The firm's revenue was up 25.4% compared to the same quarter last year. During the same period last year, the business posted $0.26 earnings per share. As a group, equities analysts predict that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk declared that its Board of Directors has approved a share repurchase program on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to buy up to 0.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Insider Activity at Trade Desk

In other Trade Desk news, 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 transaction, the director now owns 66,985 shares in the company, valued at $5,350,761.80. This trade represents a 29.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey Terry Green sold 26,684 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the transaction, the chief executive officer now owns 17,018 shares of the company's stock, valued at approximately $1,361,950.54. This represents a 61.06% decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is owned by corporate insiders.

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.

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