Prudential Financial Inc. Decreases Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Prudential Financial Inc. decreased its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 46.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,760 shares of the technology company’s stock after selling 8,618 shares during the quarter. Prudential Financial Inc.’s holdings in Trade Desk were worth $1,147,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Trade Desk by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company’s stock worth $5,015,035,000 after purchasing an additional 253,137 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Trade Desk by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,019,707 shares of the technology company’s stock worth $237,376,000 after buying an additional 5,080 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Trade Desk during the 4th quarter worth about $231,570,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Trade Desk by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,875,139 shares of the technology company’s stock valued at $220,385,000 after acquiring an additional 95,489 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Trade Desk by 5.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,843,481 shares of the technology company’s stock worth $216,664,000 after acquiring an additional 93,562 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Insider Transactions at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total value of $2,283,886.08. Following the sale, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction dated 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 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. Insiders own 9.72% of the company’s stock.

Trade Desk Stock Performance

Shares of NASDAQ:TTD opened at $46.24 on Monday. The business’s fifty day moving average price is $78.11 and its two-hundred day moving average price is $106.54. The stock has a market cap of $22.94 billion, a PE ratio of 59.28, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56. The Trade Desk, Inc. has a one year low of $45.02 and a one year high of $141.53.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data 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%. As a group, equities research analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its Board of Directors has authorized a share 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 typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TTD. Truist Financial dropped their price target on shares of Trade Desk from $155.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Wolfe Research increased their target price on shares of Trade Desk from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Wells Fargo & Company reduced their price target on shares of Trade Desk from $101.00 to $72.00 and set an “overweight” rating for the company in a research report on Monday, March 31st. KeyCorp dropped their price objective on Trade Desk from $130.00 to $74.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. Finally, Citigroup reduced their target price on Trade Desk from $140.00 to $108.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $114.38.

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.