The Manufacturers Life Insurance Company Sells 389 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

The Manufacturers Life Insurance Company trimmed its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 1.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 24,051 shares of the technology company’s stock after selling 389 shares during the period. The Manufacturers Life Insurance Company’s holdings in Trade Desk were worth $2,827,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Lyell Wealth Management LP boosted its stake in Trade Desk by 24.3% in the 4th quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock worth $11,558,000 after purchasing an additional 19,204 shares during the period. Assenagon Asset Management S.A. grew its stake in Trade Desk by 276.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company’s stock valued at $8,255,000 after acquiring an additional 51,603 shares in the last quarter. Moody National Bank Trust Division bought a new stake in Trade Desk in the 4th quarter valued at $985,000. Yousif Capital Management LLC boosted its holdings in shares of Trade Desk by 5.4% during the 4th quarter. Yousif Capital Management LLC now owns 5,856 shares of the technology company’s stock valued at $688,000 after purchasing an additional 300 shares during the last quarter. Finally, Allworth Financial LP grew its position in shares of Trade Desk by 46.3% during the fourth quarter. Allworth Financial LP now owns 5,470 shares of the technology company’s stock valued at $660,000 after purchasing an additional 1,732 shares in the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Trade Desk Stock Performance

Shares of Trade Desk stock opened at $71.04 on Friday. The Trade Desk, Inc. has a one year low of $42.96 and a one year high of $141.53. The company has a market capitalization of $35.24 billion, a PE ratio of 91.08, a P/E/G ratio of 3.11 and a beta of 1.29. The company has a 50-day simple moving average of $54.62 and a two-hundred day simple moving average of $95.31.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. The company had revenue of $616.02 million during the quarter, compared to analysts’ expectations of $575.62 million. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. Trade Desk’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.26 earnings per share. On average, equities analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its board has approved a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in shares. This repurchase authorization allows the technology company to purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

TTD has been the subject of a number of research reports. HSBC set a $75.00 price target on Trade Desk and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Citizens Jmp dropped their price objective on shares of Trade Desk from $115.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday. JMP Securities decreased their target price on shares of Trade Desk from $115.00 to $100.00 and set a “market outperform” rating on the stock in a research report on Friday. Citigroup increased their price target on Trade Desk from $63.00 to $82.00 and gave the company a “buy” rating in a report on Friday. Finally, Wells Fargo & Company reduced their target price on shares of Trade Desk from $101.00 to $72.00 and set an “overweight” rating on the stock in a research note on Monday, March 31st. Seven research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.88.

Trade Desk Profile

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.