The Trade Desk $TTD Shares Sold by Comerica Bank

Comerica Bank trimmed its holdings in The Trade Desk (NASDAQ:TTD) by 28.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,184 shares of the technology company’s stock after selling 24,838 shares during the quarter. Comerica Bank’s holdings in Trade Desk were worth $2,323,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TTD. Brighton Jones LLC boosted its stake 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 acquiring an additional 169 shares in the last quarter. Tidemark LLC lifted its holdings in shares of Trade Desk by 35.1% in the 3rd quarter. Tidemark LLC now owns 943 shares of the technology company’s stock valued at $46,000 after purchasing an additional 245 shares during the last quarter. Cornerstone Wealth Group LLC lifted its holdings in shares of Trade Desk by 5.8% in the 3rd quarter. Cornerstone Wealth Group LLC now owns 4,714 shares of the technology company’s stock valued at $231,000 after purchasing an additional 257 shares during the last quarter. Whittier Trust Co. boosted its position in shares of Trade Desk by 13.5% in the 3rd quarter. Whittier Trust Co. now owns 2,172 shares of the technology company’s stock valued at $112,000 after purchasing an additional 258 shares during the period. Finally, Howard Capital Management Inc. grew its stake in Trade Desk by 2.3% during the 4th quarter. Howard Capital Management Inc. now owns 12,150 shares of the technology company’s stock worth $461,000 after buying an additional 275 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Trade Desk news, Director Kathryn E. Falberg sold 102,828 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $30.45, for a total transaction of $3,131,112.60. Following the sale, the director directly owned 1,946 shares of the company’s stock, valued at $59,255.70. This trade represents a 98.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 11.41% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company decreased their price objective on Trade Desk from $25.00 to $24.00 and set an “equal weight” rating for the company in a report on Monday, April 6th. Morgan Stanley reduced their price target on shares of Trade Desk from $42.00 to $30.00 and set an “equal weight” rating for the company in a research report on Thursday, February 26th. BMO Capital Markets decreased their price target on shares of Trade Desk from $98.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, February 26th. Evercore reaffirmed an “outperform” rating on shares of Trade Desk in a report on Monday, February 23rd. Finally, Wedbush reiterated an “underperform” rating and set a $23.00 target price on shares of Trade Desk in a research note on Friday, March 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eighteen have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $41.38.

Trade Desk Price Performance

Shares of NASDAQ:TTD opened at $24.61 on Wednesday. The firm has a market capitalization of $11.71 billion, a price-to-earnings ratio of 27.34, a price-to-earnings-growth ratio of 0.96 and a beta of 1.10. The Trade Desk has a 12 month low of $19.74 and a 12 month high of $91.45. The business’s 50 day simple moving average is $23.77 and its 200-day simple moving average is $33.23.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Wednesday, February 25th. The technology company reported $0.59 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.59. Trade Desk had a net margin of 15.31% and a return on equity of 16.89%. The company had revenue of $846.79 million for the quarter, compared to the consensus estimate of $840.56 million. During the same quarter in the prior year, the firm earned $0.59 earnings per share. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, equities analysts anticipate that The Trade Desk will post 1.27 earnings per share for the current year.

Trade Desk declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 25th that allows the company to repurchase $350.00 million in shares. This repurchase authorization allows the technology company to repurchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Trade Desk Company 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.