Meiji Yasuda Life Insurance Co Invests $670,000 in The Trade Desk, Inc. (NASDAQ:TTD)

Meiji Yasuda Life Insurance Co acquired a new stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 5,700 shares of the technology company's stock, valued at approximately $670,000.

Several other institutional investors also recently bought and sold shares of the company. Anchor Investment Management LLC raised its stake in shares of Trade Desk by 357.9% during the 3rd quarter. Anchor Investment Management LLC now owns 870 shares of the technology company's stock worth $95,000 after buying an additional 680 shares in the last quarter. World Investment Advisors LLC raised its position in Trade Desk by 10.0% in the third quarter. World Investment Advisors LLC now owns 8,849 shares of the technology company's stock worth $970,000 after acquiring an additional 803 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Trade Desk in the third quarter valued at $1,194,000. Synovus Financial Corp purchased a new stake in shares of Trade Desk during the 3rd quarter worth $245,000. Finally, Franklin Resources Inc. grew its stake in shares of Trade Desk by 326.1% during the 3rd quarter. Franklin Resources Inc. now owns 509,495 shares of the technology company's stock worth $60,105,000 after purchasing an additional 389,917 shares during the period. 67.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on TTD. Wells Fargo & Company reduced their price objective on shares of Trade Desk from $101.00 to $72.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. Citigroup lowered their price target on Trade Desk from $70.00 to $63.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Loop Capital reduced their price objective on Trade Desk from $145.00 to $101.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Cfra Research raised Trade Desk to a "moderate buy" rating in a report on Tuesday, March 25th. Finally, Evercore ISI downgraded Trade Desk from an "outperform" rating to an "inline" rating and cut their price target for the stock from $135.00 to $90.00 in a research note on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $100.84.

Trade Desk Stock Up 1.9 %

TTD stock opened at $54.09 on Friday. The Trade Desk, Inc. has a 52 week low of $42.96 and a 52 week high of $141.53. The company has a market cap of $26.83 billion, a price-to-earnings ratio of 69.35, a PEG ratio of 3.11 and a beta of 1.56. The business has a fifty day simple moving average of $55.63 and a 200-day simple moving average of $97.33.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. As a group, analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its board has initiated a stock 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 purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

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.

Want to see what other hedge funds are holding TTD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Trade Desk, Inc. (NASDAQ:TTD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.