Daiwa Securities Group Inc. Sells 21,149 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Daiwa Securities Group Inc. reduced its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 20.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 80,815 shares of the technology company’s stock after selling 21,149 shares during the period. Daiwa Securities Group Inc.’s holdings in Trade Desk were worth $9,498,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Edgewood Management LLC boosted its holdings in Trade Desk by 133.3% in the 3rd quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock valued at $1,089,280,000 after purchasing an additional 5,675,571 shares during the period. Jennison Associates LLC raised its holdings in Trade Desk by 11.0% in the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock valued at $2,228,172,000 after acquiring an additional 2,013,047 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Trade Desk during the 4th quarter valued at $231,570,000. Baillie Gifford & Co. lifted its position in shares of Trade Desk by 4.7% during the 3rd quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock valued at $4,245,218,000 after acquiring an additional 1,720,650 shares during the period. Finally, National Pension Service increased its position in shares of Trade Desk by 104.1% in the fourth quarter. National Pension Service now owns 1,264,985 shares of the technology company’s stock worth $148,674,000 after purchasing an additional 645,240 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Insider Buying and Selling

In related news, insider Samantha Jacobson sold 4,298 shares of the firm’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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $119.35, for a total value of $2,210,839.40. Following the completion of the transaction, the insider now directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,029 shares of company stock valued at $5,004,296 over the last quarter. Insiders own 9.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TTD. Needham & Company LLC reiterated a “buy” rating and set a $145.00 price objective on shares of Trade Desk in a research note on Friday, March 7th. Morgan Stanley cut their price target on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Macquarie lifted their price objective on shares of Trade Desk from $133.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. UBS Group upped their target price on Trade Desk from $116.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 target price (down previously from $140.00) on shares of Trade Desk in a report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Trade Desk currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.45.

Trade Desk Price Performance

Shares of TTD opened at $58.84 on Wednesday. The business has a 50-day moving average of $102.74 and a 200-day moving average of $112.90. The company has a market capitalization of $29.19 billion, a price-to-earnings ratio of 75.44, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 1 year low of $58.57 and a 1 year high of $141.53.

Trade Desk (NASDAQ:TTD) last released 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%. As a group, sell-side analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk announced that its board has authorized a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in shares. This repurchase authorization authorizes the technology company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

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.