Citizens Financial Group Inc. RI Decreases Position in The Trade Desk, Inc. (NASDAQ:TTD)

Citizens Financial Group Inc. RI decreased its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 8.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,143 shares of the technology company’s stock after selling 201 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Trade Desk were worth $252,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Rialto Wealth Management LLC acquired a new stake in Trade Desk in the fourth quarter valued at approximately $26,000. Harbor Investment Advisory LLC increased its position in shares of Trade Desk by 68.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after purchasing an additional 117 shares during the last quarter. Midwest Capital Advisors LLC acquired a new stake in shares of Trade Desk in the 4th quarter valued at $34,000. Exchange Traded Concepts LLC acquired a new position in shares of Trade Desk during the fourth quarter worth $35,000. Finally, Synergy Asset Management LLC purchased a new position in Trade Desk in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Benchmark raised Trade Desk from a “sell” rating to a “hold” rating in a report on Friday, March 7th. Cantor Fitzgerald decreased their target price on Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Macquarie increased their price target on shares of Trade Desk from $133.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Morgan Stanley reduced their price objective on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Finally, Evercore ISI downgraded shares of Trade Desk from an “outperform” rating to an “inline” rating and dropped their target price for the company from $135.00 to $90.00 in a research report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.45.

Insider Buying and Selling at Trade Desk

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

Trade Desk Trading Down 10.5 %

TTD stock opened at $53.88 on Friday. The firm has a 50 day moving average of $100.42 and a 200-day moving average of $112.21. The company has a market cap of $26.73 billion, a price-to-earnings ratio of 69.08, a PEG ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 12-month low of $53.74 and a 12-month high of $141.53.

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

Trade Desk announced that its board has initiated a share buyback plan on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

About Trade Desk

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.