Northern Trust Corp Acquires 439,725 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Northern Trust Corp grew its stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 16.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,090,014 shares of the technology company's stock after purchasing an additional 439,725 shares during the quarter. Northern Trust Corp owned approximately 0.63% of Trade Desk worth $363,169,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Advisory Resource Group lifted its holdings in Trade Desk by 1.0% during the 3rd quarter. Advisory Resource Group now owns 10,502 shares of the technology company's stock worth $1,152,000 after buying an additional 101 shares during the last quarter. Anchor Investment Management LLC lifted its stake in Trade Desk by 357.9% during the third quarter. Anchor Investment Management LLC now owns 870 shares of the technology company's stock worth $95,000 after purchasing an additional 680 shares during the last quarter. World Investment Advisors LLC boosted its holdings 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 purchasing an additional 803 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Trade Desk during the third quarter valued at $1,194,000. Finally, Synovus Financial Corp acquired a new stake in shares of Trade Desk during the third quarter worth $245,000. Institutional investors own 67.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TTD shares. BMO Capital Markets cut their target price on shares of Trade Desk from $160.00 to $115.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Stifel Nicolaus reduced their price objective on Trade Desk from $122.00 to $87.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Loop Capital dropped their target price on Trade Desk from $145.00 to $101.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Wells Fargo & Company lowered their price target on shares of Trade Desk from $101.00 to $72.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. Finally, Rosenblatt Securities initiated coverage on shares of Trade Desk in a research report on Tuesday. They issued a "buy" rating and a $77.00 price objective on the stock. Seven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $100.84.

Trade Desk Stock Up 1.9 %

Shares of TTD stock traded up $1.03 during trading hours on Friday, reaching $54.09. 10,777,609 shares of the stock traded hands, compared to its average volume of 5,444,757. The firm has a market capitalization of $26.83 billion, a PE ratio of 69.35, 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. The business has a fifty day moving average price of $55.63 and a 200 day moving average price of $97.33.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced 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%. Research 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 of Directors has initiated a stock buyback program on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its shares are undervalued.

Trade Desk Company 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.