Bamco Inc. NY Sells 203,509 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Bamco Inc. NY lowered its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 11.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,616,029 shares of the technology company’s stock after selling 203,509 shares during the quarter. Bamco Inc. NY’s holdings in Trade Desk were worth $189,932,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Banque Transatlantique SA purchased a new position in Trade Desk during the 4th quarter worth $56,000. Bank of America Corp DE grew its holdings in Trade Desk by 13.2% during the fourth quarter. Bank of America Corp DE now owns 3,591,849 shares of the technology company’s stock valued at $422,150,000 after purchasing an additional 418,911 shares during the period. BNP Paribas bought a new position in shares of Trade Desk during the 4th quarter worth $50,000. Alyeska Investment Group L.P. bought a new position in Trade Desk during the fourth quarter worth about $22,607,000. Finally, Aptus Capital Advisors LLC grew its stake in Trade Desk by 16.7% in the 4th quarter. Aptus Capital Advisors LLC now owns 4,805 shares of the technology company’s stock valued at $565,000 after buying an additional 689 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Rosenblatt Securities began coverage on Trade Desk in a report on Tuesday, April 29th. They set a “buy” rating and a $77.00 target price for the company. Benchmark raised Trade Desk from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. JMP Securities decreased their price target on shares of Trade Desk from $150.00 to $115.00 and set a “market outperform” rating on the stock in a research note on Thursday, February 13th. DA Davidson lowered their target price on Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Scotiabank lowered their price target on shares of Trade Desk from $133.00 to $83.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Trade Desk currently has a consensus rating of “Moderate Buy” and an average target price of $100.84.

Trade Desk Stock Performance

Shares of Trade Desk stock opened at $54.09 on Friday. The company has a 50-day simple moving average of $55.63 and a two-hundred day simple moving average of $97.18. The Trade Desk, Inc. has a 52-week low of $42.96 and a 52-week high of $141.53. The stock has a market capitalization of $26.83 billion, a PE ratio of 69.35, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. As a group, equities research analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its Board of Directors has approved a stock buyback program on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to reacquire up to 0.9% 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.

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.