The Trade Desk, Inc. (NASDAQ:TTD) Shares Sold by Cibc World Markets Corp

Cibc World Markets Corp cut its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 15.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,281 shares of the technology company’s stock after selling 5,471 shares during the quarter. Cibc World Markets Corp’s holdings in Trade Desk were worth $3,559,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. IMG Wealth Management Inc. purchased a new position in Trade Desk in the fourth quarter worth $97,000. GWN Securities Inc. purchased a new position in Trade Desk in the fourth quarter worth $469,000. Glenview Trust co raised its position in Trade Desk by 13.4% in the fourth quarter. Glenview Trust co now owns 2,575 shares of the technology company’s stock worth $303,000 after acquiring an additional 305 shares in the last quarter. Centurion Wealth Management LLC raised its position in Trade Desk by 2.6% in the fourth quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company’s stock worth $443,000 after acquiring an additional 96 shares in the last quarter. Finally, one8zero8 LLC purchased a new position in Trade Desk in the fourth quarter worth $494,000. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Price Performance

NASDAQ TTD opened at $55.85 on Friday. The firm has a market capitalization of $27.71 billion, a P/E ratio of 71.60, a P/E/G ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 1-year low of $53.39 and a 1-year high of $141.53. The business’s 50-day simple moving average is $92.39 and its 200-day simple moving average is $110.12.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share 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%. On average, equities research analysts expect that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its board has approved a stock repurchase 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 purchase up to 0.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insider Activity

In related news, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the transaction, the insider now directly owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the business’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 value of $509,570.88. Following the transaction, the insider now directly owns 90,709 shares in the company, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock valued at $5,004,296 in the last three months. Corporate insiders own 9.72% of the company’s stock.

Analyst Ratings Changes

TTD has been the subject of a number of research analyst reports. Macquarie raised their price target on Trade Desk from $133.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Cantor Fitzgerald dropped their price target on Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. JMP Securities dropped their price target on Trade Desk from $150.00 to $115.00 and set a “market outperform” rating for the company in a research report on Thursday, February 13th. Truist Financial dropped their price target on Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Robert W. Baird dropped their price target on Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.41.

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.