Cibc World Markets Corp Sells 5,471 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Cibc World Markets Corp lowered its stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 15.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,281 shares of the technology company's stock after selling 5,471 shares during the period. Cibc World Markets Corp's holdings in Trade Desk were worth $3,559,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of TTD. Edgewood Management LLC grew its position in Trade Desk by 133.3% during the 3rd quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company's stock worth $1,089,280,000 after purchasing an additional 5,675,571 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Trade Desk during the fourth quarter valued at $231,570,000. National Pension Service lifted its stake in Trade Desk by 104.1% in the 4th quarter. National Pension Service now owns 1,264,985 shares of the technology company's stock worth $148,674,000 after acquiring an additional 645,240 shares in the last quarter. Wellington Management Group LLP boosted its position in Trade Desk by 55.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company's stock worth $169,892,000 after acquiring an additional 551,925 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its stake in Trade Desk by 1,809.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 444,616 shares of the technology company's stock valued at $48,752,000 after acquiring an additional 421,333 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company's stock.

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Trade Desk Price Performance

Shares of Trade Desk stock traded up $2.66 during midday trading on Tuesday, hitting $62.00. The company had a trading volume of 12,786,638 shares, compared to its average volume of 9,278,650. The Trade Desk, Inc. has a 1-year low of $53.39 and a 1-year high of $141.53. The business's 50 day simple moving average is $89.97 and its two-hundred day simple moving average is $109.60. The stock has a market cap of $30.76 billion, a PE ratio of 79.49, a P/E/G ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate 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, sell-side analysts expect that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its board has approved a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several analysts recently commented on TTD shares. Evercore ISI cut shares of Trade Desk from an "outperform" rating to an "inline" rating and decreased their price target for the stock from $135.00 to $90.00 in a report on Thursday, February 13th. 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 report on Thursday, February 13th. Loop Capital dropped their price target on shares of Trade Desk from $145.00 to $101.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Wells Fargo & Company reduced their price objective on Trade Desk from $142.00 to $101.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $145.00 price target on shares of Trade Desk in a report on Thursday, March 13th. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $116.41.

Insiders Place Their Bets

In other news, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction on Tuesday, January 28th. The shares were 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 approximately $10,754,459.04. This represents a 4.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk stock in a transaction dated 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 sale, the chief executive officer now owns 704,229 shares in the company, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,029 shares of company stock worth $5,004,296. 9.72% of the stock is currently owned by company 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.