OMERS ADMINISTRATION Corp Decreases Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

OMERS ADMINISTRATION Corp trimmed its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 23.3% in the fourth quarter, HoldingsChannel reports. The fund owned 29,787 shares of the technology company’s stock after selling 9,027 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Trade Desk were worth $3,501,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Rialto Wealth Management LLC bought a new position in shares of Trade Desk in the fourth quarter worth approximately $26,000. Harbor Investment Advisory LLC raised its holdings in Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after buying an additional 117 shares during the last quarter. Synergy Asset Management LLC purchased a new stake in Trade Desk during the 4th quarter valued at $34,000. Midwest Capital Advisors LLC bought a new stake in Trade Desk in the 4th quarter worth $34,000. Finally, Zions Bancorporation N.A. grew its holdings in Trade Desk by 148.3% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock worth $34,000 after acquiring an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TTD shares. JMP Securities cut their target price on Trade Desk from $115.00 to $100.00 and set a “market outperform” rating on the stock in a research note on Friday, May 9th. Susquehanna cut their price objective on Trade Desk from $150.00 to $135.00 and set a “positive” rating on the stock in a research report on Thursday, February 13th. Cantor Fitzgerald reduced their target price on Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Wells Fargo & Company dropped their price target on Trade Desk from $101.00 to $72.00 and set an “overweight” rating for the company in a research note on Monday, March 31st. Finally, Loop Capital cut their price target on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $98.88.

Trade Desk Stock Performance

NASDAQ TTD opened at $78.14 on Wednesday. The Trade Desk, Inc. has a one year low of $42.96 and a one year high of $141.53. The stock has a 50-day moving average of $55.14 and a 200 day moving average of $94.60. The company has a market capitalization of $38.76 billion, a price-to-earnings ratio of 100.18, a PEG ratio of 3.11 and a beta of 1.29.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. The firm had revenue of $616.02 million for the quarter, compared to the consensus estimate of $575.62 million. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The business’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.26 EPS. On average, equities analysts predict 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 buyback program on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors 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.