Meiji Yasuda Asset Management Co Ltd. Boosts Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Meiji Yasuda Asset Management Co Ltd. boosted its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 34.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,245 shares of the technology company’s stock after acquiring an additional 2,105 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Trade Desk were worth $969,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in Trade Desk in the 4th quarter valued at approximately $231,570,000. 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 valued at $148,674,000 after buying an additional 645,240 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Trade Desk by 55.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company’s stock worth $169,892,000 after buying an additional 551,925 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Trade Desk by 1,809.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 444,616 shares of the technology company’s stock worth $48,752,000 after buying an additional 421,333 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Trade Desk by 326.1% in the 3rd quarter. Franklin Resources Inc. now owns 509,495 shares of the technology company’s stock valued at $60,105,000 after acquiring an additional 389,917 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on TTD shares. Morgan Stanley reduced their price target on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. 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 research note on Thursday, February 13th. Stifel Nicolaus lowered their target price on Trade Desk from $144.00 to $122.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Robert W. Baird cut their price target on Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Finally, Truist Financial decreased their price objective on Trade Desk from $155.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Six equities 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, Trade Desk has a consensus rating of “Moderate Buy” and a consensus price target of $116.41.

Trade Desk Trading Down 5.2 %

NASDAQ:TTD opened at $58.80 on Thursday. The Trade Desk, Inc. has a twelve month low of $53.39 and a twelve month high of $141.53. The firm has a market capitalization of $29.17 billion, a price-to-earnings ratio of 75.38, a PEG ratio of 3.11 and a beta of 1.63. The firm’s fifty day simple moving average is $87.66 and its 200 day simple moving average is $108.97.

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

Trade Desk declared that its board has approved a share buyback plan 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 stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors 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 dated Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the transaction, the insider now owns 169,464 shares in the company, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Samantha Jacobson sold 4,298 shares of the firm’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 sale, the insider now owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock worth $5,004,296 over the last 90 days. Company insiders own 9.72% of the company’s stock.

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.