Fiduciary Trust Co Boosts Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Fiduciary Trust Co boosted its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 9.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 16,581 shares of the technology company’s stock after acquiring an additional 1,477 shares during the quarter. Fiduciary Trust Co’s holdings in Trade Desk were worth $1,949,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Deutsche Bank AG raised its holdings in shares of Trade Desk by 24.4% during the fourth quarter. Deutsche Bank AG now owns 1,142,127 shares of the technology company’s stock valued at $134,234,000 after acquiring an additional 224,304 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Trade Desk by 86.9% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 23,822 shares of the technology company’s stock worth $2,800,000 after purchasing an additional 11,074 shares in the last quarter. EP Wealth Advisors LLC increased its position in shares of Trade Desk by 46.0% during the fourth quarter. EP Wealth Advisors LLC now owns 15,449 shares of the technology company’s stock worth $1,816,000 after purchasing an additional 4,871 shares in the last quarter. CoreCap Advisors LLC raised its stake in Trade Desk by 15.5% in the 4th quarter. CoreCap Advisors LLC now owns 3,849 shares of the technology company’s stock valued at $452,000 after purchasing an additional 517 shares during the last quarter. Finally, BOKF NA lifted its holdings in Trade Desk by 408.0% in the 4th quarter. BOKF NA now owns 17,201 shares of the technology company’s stock valued at $2,043,000 after purchasing an additional 13,815 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Up 18.6 %

NASDAQ:TTD opened at $71.04 on Friday. The Trade Desk, Inc. has a 52 week low of $42.96 and a 52 week high of $141.53. The company has a fifty day simple moving average of $54.62 and a two-hundred day simple moving average of $95.16. The company has a market cap of $35.24 billion, a price-to-earnings ratio of 91.08, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29.

Trade Desk (NASDAQ:TTD) last released its earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07. The firm had revenue of $616.02 million during the quarter, compared to analysts’ expectations of $575.62 million. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. Trade Desk’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.26 EPS. On average, analysts expect that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk declared that its board has approved a stock repurchase program on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have recently issued reports on TTD. Wedbush reaffirmed an “outperform” rating and set a $86.00 target price (up previously from $80.00) on shares of Trade Desk in a report on Friday. Scotiabank cut their price objective 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. Truist Financial boosted their target price on Trade Desk from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday. Evercore ISI cut Trade Desk from an “outperform” rating to an “inline” rating and cut their price target for the company from $135.00 to $90.00 in a report on Thursday, February 13th. Finally, Royal Bank of Canada reduced their price objective on Trade Desk from $100.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Seven analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently 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.