Bank of New York Mellon Corp Purchases 5,080 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Bank of New York Mellon Corp lifted its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,019,707 shares of the technology company’s stock after purchasing an additional 5,080 shares during the quarter. Bank of New York Mellon Corp owned 0.41% of Trade Desk worth $237,376,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Focus Financial Network Inc. raised its holdings in Trade Desk by 2.2% during the fourth quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock worth $456,000 after buying an additional 84 shares during the last quarter. CAP Partners LLC raised its holdings in shares of Trade Desk by 1.4% in the 3rd quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock worth $702,000 after acquiring an additional 86 shares during the last quarter. RMR Wealth Builders lifted its position in Trade Desk by 0.8% in the 4th quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock valued at $1,247,000 after acquiring an additional 89 shares in the last quarter. Quotient Wealth Partners LLC boosted its stake in Trade Desk by 4.2% during the 4th quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock valued at $276,000 after purchasing an additional 94 shares during the last quarter. Finally, TFB Advisors LLC increased its holdings in Trade Desk by 2.6% during the 4th quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock worth $442,000 after purchasing an additional 94 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors.

Insider Transactions at Trade Desk

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction dated 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 represents a 4.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction dated 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 sale, the insider now owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,029 shares of company stock valued at $5,004,296. 9.72% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

TTD has been the topic of a number of recent research reports. Citigroup dropped their target price on Trade Desk from $140.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Benchmark restated a “sell” rating and set a $57.00 price objective on shares of Trade Desk in a research note on Friday, November 8th. DA Davidson reduced their target price on shares of Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Cantor Fitzgerald dropped their price target on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Finally, KeyCorp upped their price objective on shares of Trade Desk from $140.00 to $142.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Trade Desk presently has an average rating of “Moderate Buy” and an average target price of $119.45.

Trade Desk Trading Down 1.3 %

Trade Desk stock opened at $71.49 on Friday. The firm has a market capitalization of $35.29 billion, a price-to-earnings ratio of 91.65, a P/E/G ratio of 3.11 and a beta of 1.45. The firm has a 50 day simple moving average of $110.70 and a 200 day simple moving average of $114.44. The Trade Desk, Inc. has a 1-year low of $70.44 and a 1-year high of $141.53.

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

Trade Desk announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Trade Desk 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.