Ensign Peak Advisors Inc trimmed its holdings in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 36.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,801 shares of the technology company's stock after selling 129,029 shares during the quarter. Ensign Peak Advisors Inc's holdings in Trade Desk were worth $26,538,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC bought a new stake in shares of Trade Desk during the fourth quarter valued at about $26,000. Harbor Investment Advisory LLC raised its position in shares of Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company's stock worth $34,000 after buying an additional 117 shares in the last quarter. Synergy Asset Management LLC acquired a new stake in shares of Trade Desk in the 4th quarter worth approximately $34,000. Midwest Capital Advisors LLC bought a new position in shares of Trade Desk in the fourth quarter valued at approximately $34,000. Finally, Zions Bancorporation N.A. increased its stake in shares of Trade Desk by 148.3% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock valued at $34,000 after acquiring an additional 175 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.
Trade Desk Price Performance
Shares of TTD stock opened at $71.04 on Friday. The Trade Desk, Inc. has a fifty-two week low of $42.96 and a fifty-two week high of $141.53. The stock's 50-day moving average is $54.62 and its two-hundred day moving average is $95.16. The firm has a market cap of $35.24 billion, a P/E ratio of 91.08, a PEG ratio of 3.11 and a beta of 1.29.
Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.07. The firm had revenue of $616.02 million for the quarter, compared to the consensus estimate of $575.62 million. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The firm's revenue was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.26 earnings per share. As a group, research analysts expect that The Trade Desk, Inc. will post 1.06 EPS for the current year.
Trade Desk announced that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that allows the company to repurchase $564.00 million in shares. This repurchase authorization allows the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its stock is undervalued.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on TTD shares. Stifel Nicolaus decreased their price target on Trade Desk from $122.00 to $87.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Benchmark raised Trade Desk from a "sell" rating to a "hold" rating in a report on Friday, March 7th. Robert W. Baird dropped their price target on shares of Trade Desk from $160.00 to $145.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Guggenheim reduced their price objective on shares of Trade Desk from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Friday. Finally, Oppenheimer boosted their target price on shares of Trade Desk from $75.00 to $80.00 and gave the stock an "outperform" rating in a report on Friday. Seven analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat.com, Trade Desk presently has a consensus rating of "Moderate Buy" and an average target price of $98.88.
Get Our Latest Stock Analysis on Trade Desk
Trade Desk Profile
(
Free Report)
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.
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