Franklin Resources Inc. Has $219.12 Million Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Franklin Resources Inc. increased its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 265.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,864,386 shares of the technology company's stock after acquiring an additional 1,354,891 shares during the quarter. Franklin Resources Inc. owned approximately 0.38% of Trade Desk worth $219,121,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of brokerages have issued reports on TTD. Jefferies Financial Group reduced their price target on Trade Desk from $120.00 to $75.00 and set a "buy" rating for the company in a research report on Wednesday. Scotiabank decreased their target price on shares of Trade Desk from $133.00 to $83.00 and set a "sector perform" rating for the company in a research report on Thursday, February 13th. Evercore ISI downgraded shares of Trade Desk from an "outperform" rating to an "inline" rating and dropped their price target for the stock from $135.00 to $90.00 in a research report on Thursday, February 13th. Citizens Jmp raised shares of Trade Desk to a "strong-buy" rating in a research note on Tuesday, January 21st. Finally, Morgan Stanley lowered their price objective on shares of Trade Desk from $145.00 to $132.00 and set an "overweight" rating on the stock in a research note 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $114.38.

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Trade Desk Price Performance

TTD traded down $7.22 during midday trading on Thursday, hitting $49.08. 15,207,992 shares of the company's stock traded hands, compared to its average volume of 4,904,559. The company has a market cap of $24.35 billion, a PE ratio of 62.92, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56. The stock's fifty day simple moving average is $79.58 and its 200-day simple moving average is $106.96. The Trade Desk, Inc. has a one year low of $48.88 and a one year high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly 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 net margin of 16.08% and a return on equity of 16.38%. On average, research analysts expect that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk announced that its board has initiated a share 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 reacquire up to 0.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Insider Transactions at Trade Desk

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

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.