Keybank National Association OH Cuts Position in The Trade Desk $TTD

Keybank National Association OH lowered its position in shares of The Trade Desk (NASDAQ:TTD) by 47.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 131,771 shares of the technology company’s stock after selling 120,623 shares during the quarter. Keybank National Association OH’s holdings in Trade Desk were worth $6,458,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Transce3nd LLC acquired a new stake in shares of Trade Desk in the second quarter worth $28,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Trade Desk during the 2nd quarter worth $28,000. Estabrook Capital Management acquired a new stake in Trade Desk in the 2nd quarter valued at $36,000. Family Legacy Financial Solutions LLC increased its holdings in Trade Desk by 163.2% in the 3rd quarter. Family Legacy Financial Solutions LLC now owns 500 shares of the technology company’s stock valued at $25,000 after purchasing an additional 310 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in Trade Desk by 175.8% in the third quarter. Versant Capital Management Inc now owns 524 shares of the technology company’s stock valued at $26,000 after purchasing an additional 334 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Stock Performance

Shares of Trade Desk stock opened at $30.33 on Monday. The Trade Desk has a 1 year low of $30.13 and a 1 year high of $125.80. The firm’s 50-day simple moving average is $37.25 and its 200-day simple moving average is $49.19. The firm has a market cap of $14.67 billion, a PE ratio of 34.86, a price-to-earnings-growth ratio of 1.19 and a beta of 1.10.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Thursday, November 6th. The technology company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. Trade Desk had a return on equity of 16.00% and a net margin of 15.72%.The firm had revenue of $739.43 million during the quarter, compared to analyst estimates of $719.11 million. During the same period in the previous year, the company earned $0.41 earnings per share. Trade Desk’s quarterly revenue was up 17.7% on a year-over-year basis. On average, equities analysts predict that The Trade Desk will post 1.06 earnings per share for the current year.

Trade Desk announced that its board has authorized a stock repurchase plan on Thursday, November 6th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to reacquire up to 2.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

TTD has been the subject of a number of recent research reports. Wedbush lowered their target price on Trade Desk from $50.00 to $40.00 and set a “neutral” rating for the company in a research note on Monday, December 8th. Benchmark upgraded Trade Desk from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a report on Friday, November 7th. Evercore ISI lowered their price objective on shares of Trade Desk from $80.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, November 7th. Jefferies Financial Group set a $40.00 target price on shares of Trade Desk and gave the stock a “hold” rating in a research report on Thursday, December 11th. Finally, Cfra Research lowered shares of Trade Desk from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eighteen have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Trade Desk currently has a consensus rating of “Hold” and a consensus target price of $65.53.

Trade Desk 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.