The Manufacturers Life Insurance Company Sells 389 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

The Manufacturers Life Insurance Company reduced its position in The Trade Desk, Inc. (NASDAQ:TTD) by 1.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,051 shares of the technology company’s stock after selling 389 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Trade Desk were worth $2,827,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of TTD. Vanguard Group Inc. grew its position 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 valued at $5,015,035,000 after acquiring an additional 253,137 shares during the last quarter. Invesco Ltd. lifted its stake in Trade Desk by 2.6% in the fourth quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company’s stock worth $930,477,000 after purchasing an additional 198,822 shares during the last quarter. Norges Bank purchased a new stake in Trade Desk during the fourth quarter valued at about $524,187,000. FMR LLC increased its holdings in shares of Trade Desk by 44.8% in the fourth quarter. FMR LLC now owns 3,788,285 shares of the technology company’s stock worth $445,237,000 after buying an additional 1,172,082 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Trade Desk by 3.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,375,266 shares of the technology company’s stock valued at $396,696,000 after acquiring an additional 99,634 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TTD. Loop Capital reduced their price target on Trade Desk from $145.00 to $101.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. DA Davidson lowered their price target on shares of Trade Desk from $103.00 to $92.00 and set a “buy” rating for the company in a report on Friday. BMO Capital Markets cut their price target on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Rosenblatt Securities began coverage on shares of Trade Desk in a report on Tuesday, April 29th. They set a “buy” rating and a $77.00 target price for the company. Finally, Citizens Jmp lowered their price target on Trade Desk from $115.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday. Seven research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $98.88.

Trade Desk Stock Up 18.6 %

Shares of NASDAQ:TTD opened at $71.04 on Friday. The stock has a market capitalization of $35.24 billion, a PE ratio of 91.08, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29. The firm’s 50 day moving average price is $54.62 and its 200-day moving average price is $95.31. The Trade Desk, Inc. has a twelve month low of $42.96 and a twelve month high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The business had revenue of $616.02 million for the quarter, compared to analysts’ expectations of $575.62 million. During the same quarter last year, the company posted $0.26 EPS. The company’s revenue was up 25.4% compared to the same quarter last year. Analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its board has authorized 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 shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.