Thrivent Financial for Lutherans Reduces Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Thrivent Financial for Lutherans lessened its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 12.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 171,281 shares of the technology company's stock after selling 24,136 shares during the period. Thrivent Financial for Lutherans' holdings in Trade Desk were worth $20,236,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TTD. Rialto Wealth Management LLC purchased a new stake in shares of Trade Desk in the fourth quarter valued at approximately $26,000. Harbor Investment Advisory LLC grew its holdings in Trade Desk by 68.8% in the 4th 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 in the last quarter. Synergy Asset Management LLC purchased a new stake in Trade Desk in the 4th quarter valued at $34,000. Midwest Capital Advisors LLC purchased a new position in shares of Trade Desk during the 4th quarter worth $34,000. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Trade Desk during the 4th quarter worth $35,000. Institutional investors and hedge funds own 67.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TTD shares. Piper Sandler reissued an "overweight" rating and issued a $110.00 price target (down previously from $140.00) on shares of Trade Desk in a research note on Thursday, February 13th. Wedbush increased their price objective on Trade Desk from $135.00 to $145.00 and gave the stock an "outperform" rating in a research report on Monday, January 6th. New Street Research upgraded Trade Desk from a "sell" rating to a "neutral" rating and lifted their target price for the company from $85.00 to $115.00 in a research report on Monday, November 25th. Citigroup lowered their price target on Trade Desk from $140.00 to $108.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Finally, Wolfe Research boosted their price objective on shares of Trade Desk from $140.00 to $155.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Trade Desk has a consensus rating of "Moderate Buy" and a consensus target price of $116.41.

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Trade Desk Stock Up 4.5 %

NASDAQ:TTD traded up $2.66 during midday trading on Tuesday, reaching $62.00. The stock had a trading volume of 12,786,638 shares, compared to its average volume of 4,612,898. The stock has a market cap of $30.76 billion, a P/E ratio of 79.49, a P/E/G ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 12-month low of $53.39 and a 12-month high of $141.53. The firm has a fifty day simple moving average of $89.97 and a two-hundred day simple moving average of $109.60.

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 anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its board has initiated a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its shares are undervalued.

Insider Transactions at Trade Desk

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the company's stock in a transaction on 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 transaction, the chief executive officer now directly owns 704,229 shares of the company's stock, valued at $88,338,485.76. This represents a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of the firm's 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 sale, the insider now owns 90,709 shares of the company's stock, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 41,029 shares of company stock valued at $5,004,296. Corporate insiders own 9.72% of the company's stock.

Trade Desk Company 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.