Janus Henderson Group PLC Sells 2,179 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Janus Henderson Group PLC lowered its position in The Trade Desk, Inc. (NASDAQ:TTD) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 262,388 shares of the technology company’s stock after selling 2,179 shares during the period. Janus Henderson Group PLC’s holdings in Trade Desk were worth $30,838,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Rialto Wealth Management LLC bought a new stake in shares of Trade Desk in the 4th quarter valued at $26,000. Harbor Investment Advisory LLC increased 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 worth $34,000 after purchasing an additional 117 shares in the last quarter. Midwest Capital Advisors LLC bought a new position in Trade Desk during the 4th quarter worth about $34,000. Zions Bancorporation N.A. increased its holdings in Trade Desk by 148.3% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock worth $34,000 after purchasing an additional 175 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in Trade Desk during the 4th quarter worth about $35,000. Institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Up 1.3%

Shares of NASDAQ:TTD opened at $79.14 on Thursday. The Trade Desk, Inc. has a 12-month low of $42.96 and a 12-month high of $141.53. The stock has a market cap of $39.26 billion, a PE ratio of 101.46, a P/E/G ratio of 3.11 and a beta of 1.29. The business has a 50 day moving average of $55.42 and a 200-day moving average of $94.49.

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

Trade Desk announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in shares. This repurchase authorization authorizes the technology company to purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TTD. JMP Securities lowered their target price on Trade Desk from $115.00 to $100.00 and set a “market outperform” rating for the company in a report on Friday, May 9th. Wells Fargo & Company lowered their target price on Trade Desk from $101.00 to $72.00 and set an “overweight” rating for the company in a report on Monday, March 31st. Cantor Fitzgerald lowered their target price on Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Evercore ISI cut Trade Desk from an “outperform” rating to an “inline” rating and lowered their target price for the stock from $135.00 to $90.00 in a report on Thursday, February 13th. Finally, HSBC set a $75.00 price objective on Trade Desk and gave the company a “buy” rating in a report on Wednesday, April 23rd. Seven analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, Trade Desk presently has a consensus rating of “Moderate Buy” and an average price target of $98.88.

Insider Transactions at Trade Desk

In other news, CEO Jeffrey Terry Green sold 26,684 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the completion of the sale, the chief executive officer now owns 17,018 shares in the company, valued at $1,361,950.54. The trade was a 61.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 9.74% of the company’s stock.

Trade Desk 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.