Pinebridge Investments L.P. Has $3.02 Million Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Pinebridge Investments L.P. reduced its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 63.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,654 shares of the technology company's stock after selling 45,044 shares during the quarter. Pinebridge Investments L.P.'s holdings in Trade Desk were worth $3,015,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Advisory Resource Group lifted its position in Trade Desk by 1.0% during the third quarter. Advisory Resource Group now owns 10,502 shares of the technology company's stock worth $1,152,000 after acquiring an additional 101 shares during the last quarter. Anchor Investment Management LLC boosted its stake in Trade Desk by 357.9% in the 3rd quarter. Anchor Investment Management LLC now owns 870 shares of the technology company's stock valued at $95,000 after purchasing an additional 680 shares during the period. World Investment Advisors LLC grew its holdings in Trade Desk by 10.0% in the 3rd quarter. World Investment Advisors LLC now owns 8,849 shares of the technology company's stock valued at $970,000 after buying an additional 803 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Trade Desk during the 3rd quarter worth $1,194,000. Finally, Synovus Financial Corp acquired a new stake in shares of Trade Desk during the third quarter worth $245,000. 67.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on TTD. Rosenblatt Securities initiated coverage on shares of Trade Desk in a research report on Tuesday. They set a "buy" rating and a $77.00 price target on the stock. Stifel Nicolaus dropped their price target on shares of Trade Desk from $122.00 to $87.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Truist Financial reduced their price target on Trade Desk from $130.00 to $95.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Citigroup dropped their price objective on Trade Desk from $70.00 to $63.00 and set a "buy" rating for the company in a report on Friday, April 25th. Finally, Citizens Jmp raised Trade Desk to a "strong-buy" rating in a report on Tuesday, January 21st. Seven investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $101.32.

Trade Desk Price Performance

Shares of Trade Desk stock traded down $1.04 during midday trading on Wednesday, reaching $53.63. The company had a trading volume of 5,435,324 shares, compared to its average volume of 5,384,470. The firm has a market cap of $26.61 billion, a PE ratio of 68.76, a P/E/G ratio of 3.11 and a beta of 1.56. The stock has a fifty day moving average price of $56.84 and a 200 day moving average price of $98.52. The Trade Desk, Inc. has a fifty-two week low of $42.96 and a fifty-two week high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing the consensus estimate 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, sell-side analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current year.

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

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.