Comerica Bank Purchases 7,806 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Comerica Bank raised its stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 11.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 78,205 shares of the technology company's stock after acquiring an additional 7,806 shares during the quarter. Comerica Bank's holdings in Trade Desk were worth $9,191,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in TTD. Rialto Wealth Management LLC acquired a new stake in Trade Desk during the fourth quarter worth approximately $26,000. Harbor Investment Advisory LLC increased its stake in Trade Desk by 68.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company's stock valued at $34,000 after acquiring an additional 117 shares during the last quarter. Synergy Asset Management LLC acquired a new position in Trade Desk during the fourth quarter valued at approximately $34,000. Midwest Capital Advisors LLC bought a new stake in Trade Desk during the fourth quarter worth $34,000. Finally, Zions Bancorporation N.A. boosted its holdings in shares of Trade Desk by 148.3% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock valued at $34,000 after purchasing an additional 175 shares in the last quarter. Institutional investors own 67.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TTD shares. Cfra Research upgraded Trade Desk to a "moderate buy" rating in a research report on Tuesday, March 25th. Loop Capital dropped their price objective on shares of Trade Desk from $145.00 to $101.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Citigroup dropped their price target on Trade Desk from $70.00 to $63.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Royal Bank of Canada reduced their price objective on Trade Desk from $100.00 to $85.00 and set an "outperform" rating on the stock in a research report on Friday. Finally, Robert W. Baird cut their price target on Trade Desk from $160.00 to $145.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Seven research 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 stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $100.84.

Trade Desk Stock Up 0.2 %

TTD stock traded up $0.13 during midday trading on Tuesday, hitting $55.63. The company's stock had a trading volume of 9,539,667 shares, compared to its average volume of 5,500,582. The stock has a market cap of $27.60 billion, a price-to-earnings ratio of 71.32, a PEG ratio of 3.11 and a beta of 1.29. The stock's 50-day moving average price is $54.97 and its 200 day moving average price is $96.31. 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 posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share (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, equities analysts forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its board has authorized a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to buy up to 0.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership 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.