CIBC Private Wealth Group LLC Has $80.88 Million Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

CIBC Private Wealth Group LLC trimmed its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 665,543 shares of the technology company's stock after selling 15,190 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.13% of Trade Desk worth $80,877,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Summit Securities Group LLC bought a new position in Trade Desk during the 4th quarter worth $64,000. Arrowstreet Capital Limited Partnership bought a new position in Trade Desk during the fourth quarter worth about $100,658,000. Allianz SE acquired a new stake in Trade Desk in the 4th quarter worth about $266,000. Allstate Corp bought a new stake in Trade Desk in the 4th quarter valued at about $1,549,000. Finally, Brown Brothers Harriman & Co. grew its position in shares of Trade Desk by 138.5% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,116 shares of the technology company's stock worth $131,000 after purchasing an additional 648 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Trading Up 4.3 %

NASDAQ:TTD traded up $2.38 on Tuesday, reaching $57.10. 9,719,789 shares of the stock traded hands, compared to its average volume of 4,822,652. The firm has a market capitalization of $28.33 billion, a price-to-earnings ratio of 73.21, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 1-year low of $52.90 and a 1-year high of $141.53. The company's 50 day moving average is $82.27 and its 200-day moving average is $107.72.

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Trade Desk (NASDAQ:TTD - Get Free Report) last announced 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%. On average, equities research analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its Board of Directors has initiated a stock repurchase program 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 stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Insider Activity

In related news, CEO Jeffrey Terry Green sold 18,207 shares of the business's stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the transaction, the chief executive officer now owns 704,229 shares in the company, valued at $88,338,485.76. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the transaction, the insider now directly owns 90,709 shares in the company, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TTD. KeyCorp cut their price target on Trade Desk from $130.00 to $74.00 and set an "overweight" rating for the company in a research note on Tuesday, March 18th. Needham & Company LLC reissued a "buy" rating and set a $145.00 target price on shares of Trade Desk in a report on Thursday, March 13th. UBS Group raised their price target on Trade Desk from $116.00 to $148.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Evercore ISI cut shares of Trade Desk from an "outperform" rating to an "inline" rating and cut their price objective for the stock from $135.00 to $90.00 in a research report on Thursday, February 13th. Finally, Citigroup decreased their target price on shares of Trade Desk from $140.00 to $108.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Trade Desk presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.41.

Trade Desk 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.