Bamco Inc. NY Has $189.93 Million Position in The Trade Desk, Inc. (NASDAQ:TTD)

Bamco Inc. NY reduced its position in The Trade Desk, Inc. (NASDAQ:TTD) by 11.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,616,029 shares of the technology company’s stock after selling 203,509 shares during the quarter. Bamco Inc. NY owned approximately 0.33% of Trade Desk worth $189,932,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Trade Desk by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company’s stock worth $5,015,035,000 after buying an additional 253,137 shares during the last quarter. Invesco Ltd. raised its position in shares of Trade Desk by 2.6% during the 4th quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company’s stock valued at $930,477,000 after acquiring an additional 198,822 shares during the last quarter. Norges Bank bought a new stake in Trade Desk in the fourth quarter valued at about $524,187,000. FMR LLC raised its position in shares of Trade Desk by 44.8% in the 4th quarter. FMR LLC now owns 3,788,285 shares of the technology company’s stock valued at $445,237,000 after acquiring an additional 1,172,082 shares during the period. Finally, Bank of America Corp DE raised its holdings in Trade Desk by 13.2% in the fourth quarter. Bank of America Corp DE now owns 3,591,849 shares of the technology company’s stock worth $422,150,000 after purchasing an additional 418,911 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TTD shares. Loop Capital cut their price objective on Trade Desk from $145.00 to $101.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. UBS Group decreased their price objective on Trade Desk from $116.00 to $80.00 and set a “buy” rating for the company in a report on Friday, April 11th. Benchmark upgraded shares of Trade Desk from a “sell” rating to a “hold” rating in a report on Friday, March 7th. Evercore ISI lowered Trade Desk from an “outperform” rating to an “inline” rating and dropped their price objective for the company from $135.00 to $90.00 in a research note on Thursday, February 13th. Finally, Royal Bank of Canada dropped their price objective on shares of Trade Desk from $100.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday. Seven equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $100.84.

Trade Desk Stock Performance

TTD stock opened at $54.09 on Friday. The company has a market capitalization of $26.83 billion, a P/E ratio of 69.35, a PEG ratio of 3.11 and a beta of 1.29. The company has a fifty day moving average price of $55.63 and a 200-day moving average price of $97.18. The Trade Desk, Inc. has a 52-week low of $42.96 and a 52-week high of $141.53.

Trade Desk (NASDAQ:TTD) last announced its earnings results 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%. As a group, sell-side analysts forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal 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 reacquire up to 0.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are 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.