Legal & General Group Plc Sells 469,556 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Legal & General Group Plc reduced its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 18.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,029,867 shares of the technology company's stock after selling 469,556 shares during the period. Legal & General Group Plc owned about 0.41% of Trade Desk worth $238,570,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TTD. Kovitz Investment Group Partners LLC raised its stake in Trade Desk by 31.9% during the third quarter. Kovitz Investment Group Partners LLC now owns 11,602 shares of the technology company's stock worth $1,196,000 after acquiring an additional 2,806 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Trade Desk by 107.9% in the 3rd quarter. National Bank of Canada FI now owns 93,699 shares of the technology company's stock worth $10,274,000 after purchasing an additional 48,630 shares during the last quarter. Orion Portfolio Solutions LLC increased its position in shares of Trade Desk by 4.1% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 41,463 shares of the technology company's stock worth $4,546,000 after purchasing an additional 1,647 shares in the last quarter. Executive Wealth Management LLC lifted its holdings in Trade Desk by 42.9% during the 3rd quarter. Executive Wealth Management LLC now owns 7,454 shares of the technology company's stock valued at $817,000 after purchasing an additional 2,237 shares during the last quarter. Finally, M&T Bank Corp boosted its position in Trade Desk by 1.7% in the third quarter. M&T Bank Corp now owns 30,958 shares of the technology company's stock valued at $3,395,000 after buying an additional 520 shares in the last quarter. Institutional investors own 67.77% of the company's stock.

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Analysts Set New Price Targets

TTD has been the subject of a number of research analyst reports. JMP Securities cut their target price on shares of Trade Desk from $150.00 to $115.00 and set a "market outperform" rating for the company in a research note on Thursday, February 13th. Piper Sandler reissued an "overweight" rating and issued a $110.00 price objective (down previously from $140.00) on shares of Trade Desk in a research note on Thursday, February 13th. Citizens Jmp upgraded Trade Desk to a "strong-buy" rating in a report on Tuesday, January 21st. Scotiabank cut their price target on Trade Desk from $133.00 to $83.00 and set a "sector perform" rating for the company in a report on Thursday, February 13th. Finally, Morgan Stanley decreased their price objective on shares of Trade Desk from $145.00 to $132.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $111.79.

Trade Desk Price Performance

TTD traded up $0.51 during trading on Friday, reaching $49.78. The company had a trading volume of 7,135,822 shares, compared to its average volume of 5,155,756. The company has a market cap of $24.70 billion, a P/E ratio of 63.82, a PEG ratio of 3.11 and a beta of 1.56. The Trade Desk, Inc. has a 12 month low of $42.96 and a 12 month high of $141.53. The business's fifty day moving average price is $68.37 and its 200 day moving average price is $103.64.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its quarterly earnings data 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%. As a group, sell-side analysts predict that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

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

Insiders Place Their Bets

In other news, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction dated 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 transaction, the insider now directly 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 filing with the SEC, which is available at the SEC website. Insiders own 9.72% of the company's stock.

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.