Franklin Resources Inc. Has $219.12 Million Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Franklin Resources Inc. raised its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 265.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,864,386 shares of the technology company’s stock after purchasing an additional 1,354,891 shares during the period. Franklin Resources Inc. owned approximately 0.38% of Trade Desk worth $219,121,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TTD. Focus Financial Network Inc. grew its position in Trade Desk by 2.2% in the 4th quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock worth $456,000 after purchasing an additional 84 shares in the last quarter. RMR Wealth Builders increased its position in shares of Trade Desk by 0.8% during the 4th quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock valued at $1,247,000 after purchasing an additional 89 shares during the last quarter. Quotient Wealth Partners LLC raised its stake in shares of Trade Desk by 4.2% during the 4th quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock worth $276,000 after purchasing an additional 94 shares during the period. TFB Advisors LLC boosted its holdings in shares of Trade Desk by 2.6% in the 4th quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock worth $442,000 after buying an additional 94 shares during the last quarter. Finally, Centurion Wealth Management LLC grew its position in Trade Desk by 2.6% during the fourth quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company’s stock valued at $443,000 after buying an additional 96 shares during the period. 67.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TTD has been the topic of a number of research analyst reports. Benchmark upgraded shares of Trade Desk from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. JMP Securities reduced their price objective on Trade Desk from $150.00 to $115.00 and set a “market outperform” rating for the company in a report on Thursday, February 13th. Cfra Research upgraded Trade Desk to a “moderate buy” rating in a research note on Tuesday, March 25th. Piper Sandler reiterated an “overweight” rating and set a $110.00 price target (down previously from $140.00) on shares of Trade Desk in a research note on Thursday, February 13th. Finally, Cantor Fitzgerald lowered their price objective on Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $115.41.

Insider Buying and Selling at Trade Desk

In related news, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the completion of the transaction, the chief executive officer now directly owns 704,229 shares in the company, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the transaction, the insider now owns 90,709 shares of the company’s stock, valued at $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.72% of the company’s stock.

Trade Desk Trading Up 4.3 %

TTD opened at $57.10 on Wednesday. The stock has a market capitalization of $28.33 billion, a P/E ratio of 73.21, a PEG ratio of 3.11 and a beta of 1.63. The stock has a 50-day moving average price of $82.27 and a 200-day moving average price of $107.72. The Trade Desk, Inc. has a 12-month low of $52.90 and a 12-month high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. On average, equities research analysts predict that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are 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.