The Trade Desk, Inc. (NASDAQ:TTD) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lessened its stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 35.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 553,766 shares of the technology company's stock after selling 299,362 shares during the quarter. Bank of Montreal Can owned 0.11% of Trade Desk worth $65,084,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Rialto Wealth Management LLC purchased a new stake in Trade Desk during the fourth quarter worth $26,000. Harbor Investment Advisory LLC boosted its position in shares of Trade Desk by 68.8% in 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 Trade Desk in the 4th quarter valued at about $34,000. Midwest Capital Advisors LLC purchased a new position in Trade Desk during the 4th quarter valued at about $34,000. Finally, Zions Bancorporation N.A. raised its position in Trade Desk by 148.3% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock worth $34,000 after acquiring an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Oppenheimer lowered their price target on shares of Trade Desk from $135.00 to $115.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Royal Bank of Canada dropped their price target on Trade Desk from $120.00 to $100.00 and set an "outperform" rating for the company in a research report on Monday, March 17th. Susquehanna reduced their price objective on Trade Desk from $150.00 to $135.00 and set a "positive" rating on the stock in a research report on Thursday, February 13th. DA Davidson decreased their price objective on Trade Desk from $134.00 to $103.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Finally, KeyCorp cut their target price on shares of Trade Desk from $74.00 to $67.00 and set an "overweight" rating for the company in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $111.79.

Remove Ads

Trade Desk Stock Performance

TTD traded up $0.51 on Friday, reaching $49.78. 7,135,822 shares of the company's stock were exchanged, compared to its average volume of 5,155,756. The Trade Desk, Inc. has a twelve month low of $42.96 and a twelve month high of $141.53. The company's 50 day moving average is $68.37 and its 200-day moving average is $103.64. The company has a market cap of $24.70 billion, a price-to-earnings ratio of 63.82, a PEG ratio of 3.11 and a beta of 1.56.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS 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%. Sell-side analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk declared that its board has approved a share repurchase program on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the company'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 completion of the transaction, the insider now owns 90,709 shares in the company, valued at $10,754,459.04. This represents a 4.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.72% of the stock is currently owned by corporate insiders.

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.