Prudential Financial Inc. Lowers Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Prudential Financial Inc. trimmed its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 46.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,760 shares of the technology company's stock after selling 8,618 shares during the period. Prudential Financial Inc.'s holdings in Trade Desk were worth $1,147,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in TTD. Lyell Wealth Management LP lifted its position in Trade Desk by 24.3% during the fourth quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company's stock valued at $11,558,000 after purchasing an additional 19,204 shares during the period. Nordea Investment Management AB boosted its stake in shares of Trade Desk by 36.2% in the fourth quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company's stock worth $159,132,000 after buying an additional 358,350 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Trade Desk by 276.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company's stock worth $8,255,000 after buying an additional 51,603 shares during the last quarter. Independent Solutions Wealth Management LLC grew its holdings in Trade Desk by 21.0% during the third quarter. Independent Solutions Wealth Management LLC now owns 64,358 shares of the technology company's stock worth $7,057,000 after acquiring an additional 11,181 shares during the period. Finally, Moody National Bank Trust Division purchased a new position in Trade Desk during the fourth quarter valued at approximately $985,000. 67.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the business's stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the sale, the insider now owns 90,709 shares of the company's stock, valued at $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.72% of the stock is currently owned by corporate insiders.

Trade Desk Price Performance

TTD traded up $0.51 during trading hours on Friday, reaching $49.78. The company's stock had a trading volume of 7,135,822 shares, compared to its average volume of 5,155,746. The stock has a market cap of $24.70 billion, a PE ratio of 63.82, a P/E/G ratio of 3.11 and a beta of 1.56. The Trade Desk, Inc. has a fifty-two week low of $42.96 and a fifty-two week high of $141.53. The business's 50-day moving average is $68.37 and its 200-day moving average is $103.64.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. 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 stock buyback 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 reacquire up to 0.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on TTD shares. Piper Sandler reaffirmed an "overweight" rating and set a $110.00 price objective (down previously from $140.00) on shares of Trade Desk in a research note on Thursday, February 13th. Scotiabank dropped their target price on Trade Desk from $133.00 to $83.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 13th. KeyCorp reduced their price target on Trade Desk from $74.00 to $67.00 and set an "overweight" rating for the company in a report on Wednesday. BMO Capital Markets reduced their target price on Trade Desk from $160.00 to $115.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Finally, Wolfe Research increased their target price on Trade Desk from $140.00 to $155.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $111.79.

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.