Midwest Trust Co Cuts Position in The Trade Desk $TTD

Midwest Trust Co decreased its holdings in shares of The Trade Desk (NASDAQ:TTD) by 91.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,663 shares of the technology company’s stock after selling 71,891 shares during the period. Midwest Trust Co’s holdings in Trade Desk were worth $327,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. STF Management LP increased its position in Trade Desk by 2.1% during the 2nd quarter. STF Management LP now owns 6,627 shares of the technology company’s stock valued at $477,000 after buying an additional 136 shares in the last quarter. Mutual Advisors LLC grew its stake in shares of Trade Desk by 3.5% in the second quarter. Mutual Advisors LLC now owns 4,239 shares of the technology company’s stock worth $305,000 after acquiring an additional 142 shares during the last quarter. Brighton Jones LLC grew its stake in shares of Trade Desk by 3.8% in the fourth quarter. Brighton Jones LLC now owns 4,586 shares of the technology company’s stock worth $539,000 after acquiring an additional 169 shares during the last quarter. CVA Family Office LLC increased its holdings in shares of Trade Desk by 37.2% during the second quarter. CVA Family Office LLC now owns 657 shares of the technology company’s stock valued at $47,000 after acquiring an additional 178 shares in the last quarter. Finally, M&T Bank Corp raised its position in shares of Trade Desk by 0.7% in the 2nd quarter. M&T Bank Corp now owns 27,607 shares of the technology company’s stock worth $1,987,000 after purchasing an additional 194 shares during the last quarter. 67.77% of the stock is owned by institutional investors.

Trade Desk Stock Down 4.0%

Shares of Trade Desk stock opened at $26.14 on Friday. The Trade Desk has a twelve month low of $25.93 and a twelve month high of $91.45. The company’s 50 day moving average is $35.10 and its 200 day moving average is $46.19. The company has a market cap of $12.64 billion, a price-to-earnings ratio of 30.05, a price-to-earnings-growth ratio of 1.07 and a beta of 1.10.

Trade Desk announced that its Board of Directors has approved a stock buyback program on Thursday, November 6th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to reacquire up to 2.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

TTD has been the topic of several recent analyst reports. Cfra reissued a “hold” rating and set a $40.00 price objective on shares of Trade Desk in a research report on Tuesday, January 27th. Evercore cut their price target on shares of Trade Desk from $80.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, November 7th. Morgan Stanley reduced their price target on shares of Trade Desk from $50.00 to $42.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 13th. Wolfe Research reaffirmed an “outperform” rating and issued a $45.00 price objective (down from $60.00) on shares of Trade Desk in a research report on Monday, January 5th. Finally, Truist Financial set a $60.00 target price on Trade Desk and gave the company a “buy” rating in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, sixteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $61.45.

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.