Swiss National Bank Sells 53,000 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Swiss National Bank lowered its position in The Trade Desk, Inc. (NASDAQ:TTD) by 4.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,268,400 shares of the technology company’s stock after selling 53,000 shares during the period. Swiss National Bank’s holdings in Trade Desk were worth $149,075,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in TTD. Rialto Wealth Management LLC purchased a new position in Trade Desk in the fourth quarter worth $26,000. Harbor Investment Advisory LLC boosted its holdings in shares of Trade Desk by 68.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after buying an additional 117 shares during the last quarter. Synergy Asset Management LLC purchased a new position in shares of Trade Desk in the 4th quarter worth about $34,000. Midwest Capital Advisors LLC bought a new position in Trade Desk during the fourth quarter valued at about $34,000. Finally, Exchange Traded Concepts LLC purchased a new stake in Trade Desk during the fourth quarter worth about $35,000. 67.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TTD shares. Benchmark raised shares of Trade Desk from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Truist Financial reduced their price objective on Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Susquehanna lowered their target price on Trade Desk from $150.00 to $135.00 and set a “positive” rating on the stock in a research note on Thursday, February 13th. Royal Bank of Canada dropped their price target on Trade Desk from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Finally, DA Davidson decreased their price objective on Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Six 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $119.45.

Insider Activity

In other news, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,029 shares of company stock worth $5,004,296 in the last quarter. 9.72% of the stock is owned by company insiders.

Trade Desk Trading Down 10.5 %

Shares of NASDAQ TTD opened at $53.88 on Friday. The firm has a fifty day simple moving average of $100.42 and a two-hundred day simple moving average of $112.21. The firm has a market capitalization of $26.73 billion, a PE ratio of 69.08, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 12 month low of $53.74 and a 12 month high of $141.53.

Trade Desk (NASDAQ:TTD) last issued 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 return on equity of 16.38% and a net margin of 16.08%. On average, sell-side analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $564.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

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.