CIBC Private Wealth Group LLC Has $80.88 Million Stake in The Trade Desk, Inc. (NASDAQ:TTD)

CIBC Private Wealth Group LLC cut its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 665,543 shares of the technology company’s stock after selling 15,190 shares during the period. CIBC Private Wealth Group LLC owned about 0.13% of Trade Desk worth $80,877,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of TTD. Summit Securities Group LLC bought a new stake in Trade Desk during the 4th quarter worth approximately $64,000. Arrowstreet Capital Limited Partnership acquired a new position in Trade Desk in the fourth quarter worth $100,658,000. Allianz SE acquired a new position in Trade Desk in the fourth quarter worth $266,000. Allstate Corp bought a new stake in shares of Trade Desk during the fourth quarter worth $1,549,000. Finally, Brown Brothers Harriman & Co. increased its stake in shares of Trade Desk by 138.5% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,116 shares of the technology company’s stock valued at $131,000 after buying an additional 648 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

Insider Activity

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

Wall Street Analyst Weigh In

TTD has been the subject of a number of research analyst reports. Benchmark raised shares of Trade Desk from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Stifel Nicolaus reduced their target price on Trade Desk from $144.00 to $122.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Citizens Jmp upgraded shares of Trade Desk to a “strong-buy” rating in a report on Tuesday, January 21st. Citigroup cut their target price on shares of Trade Desk from $140.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, KeyCorp decreased their price objective on Trade Desk from $130.00 to $74.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $116.41.

Trade Desk Stock Down 2.5 %

NASDAQ TTD opened at $55.85 on Monday. The firm has a 50-day moving average price of $85.01 and a two-hundred day moving average price of $108.42. The Trade Desk, Inc. has a 12-month low of $53.39 and a 12-month high of $141.53. The company has a market capitalization of $27.71 billion, a P/E ratio of 71.60, a P/E/G ratio of 3.11 and a beta of 1.63.

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 the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. Equities analysts expect that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board 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.