Sumitomo Mitsui Trust Group Inc. Acquires 33,599 Shares of The Trade Desk $TTD

Sumitomo Mitsui Trust Group Inc. lifted its holdings in The Trade Desk (NASDAQ:TTD) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,324,526 shares of the technology company’s stock after acquiring an additional 33,599 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.48% of Trade Desk worth $88,239,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Trade Desk by 62.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 173,743 shares of the technology company’s stock valued at $8,515,000 after acquiring an additional 66,672 shares during the last quarter. Jacobson & Schmitt Advisors LLC lifted its stake in Trade Desk by 19.6% in the third quarter. Jacobson & Schmitt Advisors LLC now owns 289,574 shares of the technology company’s stock worth $14,192,000 after purchasing an additional 47,539 shares during the last quarter. State of Michigan Retirement System bought a new stake in Trade Desk in the third quarter worth about $5,906,000. Amalgamated Bank lifted its stake in Trade Desk by 190.1% in the third quarter. Amalgamated Bank now owns 97,918 shares of the technology company’s stock worth $4,799,000 after purchasing an additional 64,159 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Trade Desk by 325.9% in the third quarter. Principal Financial Group Inc. now owns 482,666 shares of the technology company’s stock worth $23,655,000 after purchasing an additional 369,345 shares during the last quarter. Institutional investors own 67.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TTD shares. Guggenheim reissued a “buy” rating and issued a $50.00 price objective (down from $55.00) on shares of Trade Desk in a research note on Monday, January 5th. Morgan Stanley decreased their price objective on shares of Trade Desk from $42.00 to $30.00 and set an “equal weight” rating for the company in a research note on Thursday, February 26th. Piper Sandler reissued a “neutral” rating and issued a $28.00 price objective (down from $50.00) on shares of Trade Desk in a research note on Monday, March 2nd. Needham & Company LLC decreased their price objective on shares of Trade Desk from $60.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Finally, BNP Paribas Exane started coverage on shares of Trade Desk in a research note on Wednesday, January 14th. They issued a “neutral” rating and a $40.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eighteen have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $41.91.

Trade Desk Stock Performance

Trade Desk stock opened at $21.22 on Tuesday. The company has a 50 day moving average price of $24.65 and a 200-day moving average price of $35.99. The Trade Desk has a fifty-two week low of $19.74 and a fifty-two week high of $91.45. The company has a market capitalization of $10.10 billion, a PE ratio of 23.58, a P/E/G ratio of 0.79 and a beta of 1.18.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Wednesday, February 25th. The technology company reported $0.59 earnings per share for the quarter, meeting the consensus estimate of $0.59. Trade Desk had a net margin of 15.31% and a return on equity of 16.89%. The firm had revenue of $846.79 million during the quarter, compared to the consensus estimate of $840.56 million. During the same quarter in the previous year, the firm posted $0.59 earnings per share. The company’s revenue was up 14.3% on a year-over-year basis. On average, analysts forecast that The Trade Desk will post 1.06 earnings per share for the current year.

Trade Desk declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 25th that allows the company to buyback $350.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 2.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Trade Desk

In related news, Director Kathryn E. Falberg sold 102,828 shares of Trade Desk stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $30.45, for a total transaction of $3,131,112.60. Following the transaction, the director directly owned 1,946 shares of the company’s stock, valued at $59,255.70. This trade represents a 98.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 10.00% of the stock is currently owned by insiders.

Trade Desk Company Profile

The Trade Desk, Inc (NASDAQ: TTD) is a technology company that provides a demand-side platform (DSP) for programmatic digital advertising. Its platform enables advertisers, agencies and other buyers to plan, purchase and measure ad inventory across digital channels, including display, video, mobile, audio, native and connected TV. By centralizing real‑time bidding, audience targeting and inventory access, the company aims to help clients optimize media spend and reach audiences at scale across publishers and ad exchanges.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk grew from a focus on programmatic display into a global ad‑tech provider.