Janus Henderson Group PLC Sells 2,179 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Janus Henderson Group PLC trimmed its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 262,388 shares of the technology company’s stock after selling 2,179 shares during the period. Janus Henderson Group PLC owned approximately 0.05% of Trade Desk worth $30,838,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC bought a new position in Trade Desk during the fourth quarter valued at about $26,000. Harbor Investment Advisory LLC increased its stake in Trade Desk by 68.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after acquiring an additional 117 shares during the period. Midwest Capital Advisors LLC bought a new position in Trade Desk during the fourth quarter valued at about $34,000. Zions Bancorporation N.A. increased its stake in Trade Desk by 148.3% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after acquiring an additional 175 shares during the period. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Trade Desk in the 4th quarter valued at approximately $35,000. 67.77% of the stock is currently owned by institutional investors.

Trade Desk Stock Up 1.3%

TTD stock opened at $79.14 on Thursday. The business’s fifty day moving average is $55.42 and its 200-day moving average is $94.49. The company has a market cap of $39.26 billion, a P/E ratio of 101.46, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29. The Trade Desk, Inc. has a twelve month low of $42.96 and a twelve month high of $141.53.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. The company had revenue of $616.02 million for the quarter, compared to the consensus estimate of $575.62 million. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The firm’s quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.26 EPS. Research analysts anticipate 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 buyback plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to buy up to 0.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, CEO Jeffrey Terry Green sold 26,684 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $80.03, for a total value of $2,135,520.52. Following the completion of the sale, the chief executive officer now owns 17,018 shares in the company, valued at $1,361,950.54. This represents a 61.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 9.74% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TTD shares. Guggenheim lowered their price objective on Trade Desk from $110.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Piper Sandler upped their price objective on Trade Desk from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Needham & Company LLC reiterated a “buy” rating and issued a $84.00 price objective on shares of Trade Desk in a research note on Friday, May 9th. Truist Financial upped their price objective on Trade Desk from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Finally, JMP Securities lowered their price objective on Trade Desk from $115.00 to $100.00 and set a “market outperform” rating on the stock in a research note on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Trade Desk presently has an average rating of “Moderate Buy” and a consensus price target 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.