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

Toronto Dominion Bank lifted its position in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 11.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,701 shares of the technology company's stock after acquiring an additional 6,310 shares during the quarter. Toronto Dominion Bank's holdings in Trade Desk were worth $7,487,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Trade Desk during the fourth quarter worth about $524,187,000. Brown Advisory Inc. grew its position in Trade Desk by 3,037.0% during the fourth quarter. Brown Advisory Inc. now owns 2,714,955 shares of the technology company's stock worth $319,089,000 after buying an additional 2,628,409 shares during the period. Raymond James Financial Inc. acquired a new position in Trade Desk during the fourth quarter worth about $231,570,000. Franklin Resources Inc. grew its position in Trade Desk by 265.9% during the fourth quarter. Franklin Resources Inc. now owns 1,864,386 shares of the technology company's stock worth $219,121,000 after buying an additional 1,354,891 shares during the period. Finally, FMR LLC grew its position in 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 buying an additional 1,172,082 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on TTD shares. Evercore ISI lowered shares of Trade Desk from an "outperform" rating to an "inline" rating and lowered their price target for the company from $135.00 to $90.00 in a research report on Thursday, February 13th. DA Davidson lowered their price target on shares of Trade Desk from $103.00 to $92.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. KeyCorp increased their price target on shares of Trade Desk from $67.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Citizens Jmp lowered their price target on shares of Trade Desk from $115.00 to $100.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Finally, Oppenheimer increased their price target on shares of Trade Desk from $75.00 to $80.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $97.12.

Trade Desk Trading Down 1.2%

TTD stock traded down $0.92 during trading on Friday, reaching $73.96. The stock had a trading volume of 6,878,665 shares, compared to its average volume of 6,049,403. The firm has a fifty day moving average price of $59.81 and a 200 day moving average price of $90.25. The company has a market capitalization of $36.69 billion, a P/E ratio of 94.82, a PEG ratio of 3.11 and a beta of 1.29. The Trade Desk, Inc. has a 1-year low of $42.96 and a 1-year high of $141.53.

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

Trade Desk declared that its board has approved a stock buyback plan on Wednesday, February 12th that authorizes the company to buyback $564.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

Insider Transactions at Trade Desk

In other Trade Desk 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 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 trade represents a 61.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction, the director now directly owns 66,985 shares in the company, valued at approximately $5,350,761.80. The trade was a 29.95% decrease in their position. The disclosure for this sale can be found here. Insiders own 9.72% of the company's stock.

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.