First Horizon Advisors Inc. Boosts Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

First Horizon Advisors Inc. grew its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 21.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,051 shares of the technology company’s stock after buying an additional 537 shares during the quarter. First Horizon Advisors Inc.’s holdings in Trade Desk were worth $359,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of TTD. Baillie Gifford & Co. grew its position in Trade Desk by 4.7% during the 3rd quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock worth $4,245,218,000 after acquiring an additional 1,720,650 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Trade Desk by 11.0% during the third quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock valued at $2,228,172,000 after purchasing an additional 2,013,047 shares during the period. Edgewood Management LLC grew its holdings in shares of Trade Desk by 133.3% in the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock worth $1,089,280,000 after purchasing an additional 5,675,571 shares during the last quarter. FMR LLC increased its stake in shares of Trade Desk by 1.3% in the third quarter. FMR LLC now owns 2,616,203 shares of the technology company’s stock worth $286,867,000 after buying an additional 32,999 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Trade Desk by 3.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,109,380 shares of the technology company’s stock valued at $231,294,000 after buying an additional 68,206 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on TTD. Morgan Stanley cut their price target on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Piper Sandler reissued an “overweight” rating and issued a $110.00 target price (down from $140.00) on shares of Trade Desk in a research note on Thursday, February 13th. Truist Financial lowered their price target on Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Wells Fargo & Company cut their price objective on Trade Desk from $142.00 to $101.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Finally, Evercore ISI downgraded Trade Desk from an “outperform” rating to an “inline” rating and decreased their target price for the company from $135.00 to $90.00 in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.45.

Trade Desk Price Performance

Shares of NASDAQ:TTD opened at $74.98 on Wednesday. The company has a market capitalization of $37.01 billion, a PE ratio of 96.13, a PEG ratio of 3.11 and a beta of 1.45. The business has a fifty day moving average price of $112.90 and a 200-day moving average price of $115.03. The Trade Desk, Inc. has a 1-year low of $70.44 and a 1-year high of $141.53.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. On average, sell-side analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its board has approved a share repurchase program on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the sale, the insider now owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the completion of the sale, the chief executive officer now owns 704,229 shares of the company’s stock, valued at $88,338,485.76. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,029 shares of company stock worth $5,004,296 in the last three months. Insiders own 9.72% 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.