The Trade Desk $TTD Shares Sold by Thrivent Financial for Lutherans

Key Points

• Thrivent Financial for Lutherans cut its stake in The Trade Desk by 31.1% in Q2, selling 52,805 shares and leaving 117,197 shares valued at about $8.40 million.
• The Trade Desk beat recent quarterly estimates with $0.45 EPS vs. $0.44 expected and $739.43M revenue (up 17.7% YoY), and its board approved a $500 million share repurchase program (~2.1% of shares).
• TTD trades near $37.29 with a market cap of ~$18.0 billion, and analysts give a consensus rating of Moderate Buy with an average price target of $76.56 amid recent mixed target revisions.

Thrivent Financial for Lutherans trimmed its holdings in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 31.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 117,197 shares of the technology company's stock after selling 52,805 shares during the quarter. Thrivent Financial for Lutherans' holdings in Trade Desk were worth $8,402,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sound Income Strategies LLC increased its holdings in Trade Desk by 317.6% during the 2nd quarter. Sound Income Strategies LLC now owns 355 shares of the technology company's stock worth $26,000 after purchasing an additional 270 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Trade Desk during the second quarter worth approximately $28,000. Transce3nd LLC bought a new stake in shares of Trade Desk in the second quarter worth $28,000. West Oak Capital LLC raised its holdings in Trade Desk by 466.7% in the second quarter. West Oak Capital LLC now owns 425 shares of the technology company's stock valued at $31,000 after acquiring an additional 350 shares in the last quarter. Finally, HighMark Wealth Management LLC raised its holdings in Trade Desk by 46.2% in the second quarter. HighMark Wealth Management LLC now owns 478 shares of the technology company's stock valued at $34,000 after acquiring an additional 151 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company's stock.

Trade Desk Trading Up 0.3%

Shares of Trade Desk stock opened at $37.29 on Friday. The stock has a market capitalization of $18.03 billion, a price-to-earnings ratio of 42.86, a PEG ratio of 1.85 and a beta of 1.07. The Trade Desk has a twelve month low of $35.65 and a twelve month high of $130.40. The business's 50 day simple moving average is $44.13 and its 200-day simple moving average is $57.28.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its quarterly earnings data on Thursday, November 6th. The technology company reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.01. The firm had revenue of $739.43 million during the quarter, compared to the consensus estimate of $719.11 million. Trade Desk had a return on equity of 16.00% and a net margin of 15.72%.The firm's revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 EPS. Sell-side analysts predict that The Trade Desk will post 1.06 earnings per share for the current year.

Trade Desk declared that its board has approved a stock repurchase program on Thursday, November 6th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to reacquire up to 2.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TTD shares. Truist Financial decreased their price objective on shares of Trade Desk from $100.00 to $85.00 and set a "buy" rating for the company in a report on Friday, November 7th. UBS Group reiterated a "buy" rating and issued a $82.00 price target (up from $80.00) on shares of Trade Desk in a research note on Friday, November 7th. Needham & Company LLC cut their price objective on Trade Desk from $84.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, November 7th. Benchmark upgraded Trade Desk from a "hold" rating to a "buy" rating and set a $65.00 target price for the company in a research report on Friday, November 7th. Finally, Morgan Stanley downgraded Trade Desk from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $80.00 to $50.00 in a report on Wednesday, September 10th. Twenty-one analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Trade Desk presently has a consensus rating of "Moderate Buy" and an average price target of $76.56.

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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