Ameriprise Financial Inc. Sells 357,605 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Ameriprise Financial Inc. lessened its stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 15.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,952,430 shares of the technology company's stock after selling 357,605 shares during the period. Ameriprise Financial Inc. owned about 0.40% of Trade Desk worth $229,707,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC bought a new position in Trade Desk during the fourth quarter worth about $26,000. Harbor Investment Advisory LLC raised its stake in Trade Desk by 68.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company's stock worth $34,000 after acquiring an additional 117 shares in the last quarter. Synergy Asset Management LLC bought a new position in shares of Trade Desk during the fourth quarter valued at $34,000. Midwest Capital Advisors LLC acquired a new stake in shares of Trade Desk in the 4th quarter valued at $34,000. Finally, Zions Bancorporation N.A. grew 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 worth $34,000 after purchasing an additional 175 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. BMO Capital Markets decreased their price objective on shares of Trade Desk from $160.00 to $115.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. KeyCorp lowered their target price on Trade Desk from $74.00 to $67.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Cfra Research raised shares of Trade Desk to a "moderate buy" rating in a report on Tuesday, March 25th. Royal Bank of Canada dropped their target price on shares of Trade Desk from $100.00 to $85.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, Scotiabank lowered their price target on shares of Trade Desk from $133.00 to $83.00 and set a "sector perform" rating for the company in a report on Thursday, February 13th. Seven investment 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $100.84.

Trade Desk Stock Performance

NASDAQ:TTD traded up $3.56 during mid-day trading on Thursday, hitting $60.02. The stock had a trading volume of 25,666,710 shares, compared to its average volume of 5,594,569. The Trade Desk, Inc. has a twelve month low of $42.96 and a twelve month high of $141.53. The stock has a market cap of $29.78 billion, a price-to-earnings ratio of 76.95, a PEG ratio of 3.11 and a beta of 1.29. The company's 50 day simple moving average is $54.55 and its 200 day simple moving average is $95.64.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share 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 year.

Trade Desk declared that its board has approved a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are usually a sign 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.