Swedbank AB Reduces Position in The Trade Desk $TTD

Swedbank AB reduced its position in shares of The Trade Desk (NASDAQ:TTD) by 47.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 174,076 shares of the technology company’s stock after selling 158,156 shares during the period. Swedbank AB’s holdings in Trade Desk were worth $3,950,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in Trade Desk by 3.8% in the fourth quarter. Brighton Jones LLC now owns 4,586 shares of the technology company’s stock valued at $539,000 after buying an additional 169 shares during the last quarter. Bison Wealth LLC increased its holdings in shares of Trade Desk by 24.3% in the 4th quarter. Bison Wealth LLC now owns 2,480 shares of the technology company’s stock valued at $291,000 after acquiring an additional 485 shares during the last quarter. Woodline Partners LP raised its position in shares of Trade Desk by 75.5% during the 1st quarter. Woodline Partners LP now owns 5,275 shares of the technology company’s stock worth $289,000 after acquiring an additional 2,269 shares in the last quarter. Cerity Partners LLC raised its position in shares of Trade Desk by 46.6% during the 2nd quarter. Cerity Partners LLC now owns 59,785 shares of the technology company’s stock worth $4,304,000 after acquiring an additional 19,015 shares in the last quarter. Finally, AXA S.A. raised its position in shares of Trade Desk by 14.7% during the 2nd quarter. AXA S.A. now owns 42,819 shares of the technology company’s stock worth $3,083,000 after acquiring an additional 5,487 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Insider Buying and Selling

In related news, Director Samantha Jacobson sold 53,681 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $21.14, for a total value of $1,134,816.34. Following the completion of the sale, the director owned 13,099 shares in the company, valued at $276,912.86. This represents a 80.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.41% of the stock is currently owned by company insiders.

Trade Desk Stock Down 1.1%

NASDAQ:TTD traded down $0.22 during mid-day trading on Friday, reaching $19.53. 8,517,766 shares of the stock were exchanged, compared to its average volume of 18,104,402. The stock has a market capitalization of $9.18 billion, a P/E ratio of 22.19, a P/E/G ratio of 0.96 and a beta of 1.04. The Trade Desk has a 1 year low of $16.98 and a 1 year high of $91.45. The company has a 50 day simple moving average of $20.35 and a 200-day simple moving average of $25.52.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Thursday, May 7th. The technology company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.24). The firm had revenue of $688.86 million during the quarter, compared to analysts’ expectations of $678.87 million. Trade Desk had a net margin of 14.57% and a return on equity of 16.91%. Trade Desk’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.33 EPS. As a group, research analysts predict that The Trade Desk will post 1.17 EPS for the current year.

Analyst Ratings Changes

TTD has been the subject of a number of research analyst reports. Wells Fargo & Company set a $20.00 price target on Trade Desk and gave the company an “equal weight” rating in a report on Friday, May 8th. Jefferies Financial Group reissued a “hold” rating on shares of Trade Desk in a report on Tuesday, March 17th. Oppenheimer downgraded shares of Trade Desk from an “outperform” rating to a “market perform” rating in a research report on Friday, May 8th. KeyCorp cut shares of Trade Desk from an “overweight” rating to a “sector weight” rating in a report on Friday, May 8th. Finally, Guggenheim dropped their target price on shares of Trade Desk from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-one have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $33.52.

About Trade Desk

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.