Commerce Bank Reduces Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Commerce Bank trimmed its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 54,539 shares of the technology company’s stock after selling 1,619 shares during the quarter. Commerce Bank’s holdings in Trade Desk were worth $6,410,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Rialto Wealth Management LLC purchased a new position in Trade Desk during the 4th quarter valued at about $26,000. Harbor Investment Advisory LLC increased its stake in shares of Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after purchasing an additional 117 shares in the last quarter. Synergy Asset Management LLC purchased a new stake in Trade Desk in the 4th quarter valued at approximately $34,000. Midwest Capital Advisors LLC purchased a new position in Trade Desk during the fourth quarter worth $34,000. Finally, Zions Bancorporation N.A. raised its holdings in shares of Trade Desk by 148.3% in the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock worth $34,000 after acquiring an additional 175 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Insider Transactions at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the transaction, the insider now owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.72% of the stock is currently owned by insiders.

Trade Desk Stock Performance

Shares of TTD opened at $50.26 on Friday. The firm has a market cap of $24.93 billion, a P/E ratio of 64.44, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56. The firm’s 50-day simple moving average is $61.52 and its 200 day simple moving average is $101.56. The Trade Desk, Inc. has a 52 week low of $42.96 and a 52 week high of $141.53.

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

Trade Desk announced that its board has authorized a stock buyback plan on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Evercore ISI lowered shares of Trade Desk from an “outperform” rating to an “inline” rating and decreased their target price for the stock from $135.00 to $90.00 in a research report on Thursday, February 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $84.00 target price on shares of Trade Desk in a research report on Monday, April 14th. BMO Capital Markets reduced their price target on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Cfra Research upgraded Trade Desk to a “moderate buy” rating in a report on Tuesday, March 25th. Finally, Robert W. Baird dropped their price objective on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $104.10.

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.