Fiduciary Trust Co Raises Position in The Trade Desk, Inc. (NASDAQ:TTD)

Fiduciary Trust Co lifted its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 9.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,581 shares of the technology company’s stock after purchasing an additional 1,477 shares during the quarter. Fiduciary Trust Co’s holdings in Trade Desk were worth $1,949,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TTD. Lyell Wealth Management LP grew its stake in shares of Trade Desk by 24.3% during the fourth quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock valued at $11,558,000 after buying an additional 19,204 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Trade Desk by 276.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company’s stock worth $8,255,000 after purchasing an additional 51,603 shares during the period. Moody National Bank Trust Division bought a new stake in shares of Trade Desk during the fourth quarter worth $985,000. Yousif Capital Management LLC grew its position in shares of Trade Desk by 5.4% during the 4th quarter. Yousif Capital Management LLC now owns 5,856 shares of the technology company’s stock worth $688,000 after buying an additional 300 shares in the last quarter. Finally, Allworth Financial LP increased its stake in shares of Trade Desk by 46.3% during the fourth quarter. Allworth Financial LP now owns 5,470 shares of the technology company’s stock valued at $660,000 after buying an additional 1,732 shares during the period. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Wall Street Analysts Forecast Growth

TTD has been the topic of several recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $84.00 target price on shares of Trade Desk in a report on Friday. BMO Capital Markets cut their price objective 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. UBS Group lowered their target price on Trade Desk from $116.00 to $80.00 and set a “buy” rating for the company in a report on Friday, April 11th. HSBC set a $75.00 price target on Trade Desk and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Finally, Rosenblatt Securities initiated coverage on Trade Desk in a research report on Tuesday, April 29th. They set a “buy” rating and a $77.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $98.88.

Trade Desk Stock Performance

Shares of TTD opened at $71.04 on Friday. The business’s 50-day moving average is $54.62 and its two-hundred day moving average is $95.16. The company has a market capitalization of $35.24 billion, a P/E ratio of 91.08, a P/E/G ratio of 3.11 and a beta of 1.29. The Trade Desk, Inc. has a fifty-two week low of $42.96 and a fifty-two week high of $141.53.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The firm had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. During the same period last year, the company earned $0.26 earnings per share. Trade Desk’s revenue for the quarter was up 25.4% compared to the same quarter last year. 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 initiated a share buyback program on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is 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.