Bank of New York Mellon Corp Buys 754,278 Shares of The Trade Desk $TTD

Bank of New York Mellon Corp lifted its position in The Trade Desk (NASDAQ:TTD) by 40.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,601,636 shares of the technology company’s stock after acquiring an additional 754,278 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.53% of Trade Desk worth $127,506,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Transce3nd LLC purchased a new stake in Trade Desk in the 2nd quarter valued at about $28,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Trade Desk during the second quarter valued at approximately $28,000. Estabrook Capital Management bought a new stake in Trade Desk during the second quarter worth $36,000. Family Legacy Financial Solutions LLC lifted its holdings in Trade Desk by 163.2% during the third quarter. Family Legacy Financial Solutions LLC now owns 500 shares of the technology company’s stock worth $25,000 after acquiring an additional 310 shares during the period. Finally, Versant Capital Management Inc boosted its position in Trade Desk by 175.8% in the third quarter. Versant Capital Management Inc now owns 524 shares of the technology company’s stock worth $26,000 after purchasing an additional 334 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Cfra Research cut Trade Desk from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 27th. Wells Fargo & Company set a $42.00 price objective on shares of Trade Desk and gave the stock an “equal weight” rating in a research report on Monday, January 12th. Wall Street Zen upgraded shares of Trade Desk from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Exane BNP Paribas upgraded shares of Trade Desk to a “hold” rating in a research note on Wednesday, January 14th. Finally, Stifel Nicolaus set a $74.00 price objective on Trade Desk and gave the company a “buy” rating in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $65.53.

Trade Desk Stock Down 2.9%

NASDAQ TTD opened at $30.33 on Friday. The firm has a market cap of $14.67 billion, a P/E ratio of 34.86, a price-to-earnings-growth ratio of 1.23 and a beta of 1.11. The company’s 50 day moving average is $37.25 and its 200-day moving average is $49.41. The Trade Desk has a 12-month low of $30.13 and a 12-month high of $125.80.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Thursday, November 6th. The technology company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. Trade Desk had a net margin of 15.72% and a return on equity of 16.00%. The business had revenue of $739.43 million during the quarter, compared to analyst estimates of $719.11 million. During the same period in the previous year, the business earned $0.41 EPS. Trade Desk’s revenue was up 17.7% compared to the same quarter last year. Equities analysts expect that The Trade Desk will post 1.06 EPS for the current year.

Trade Desk announced that its Board of Directors has authorized a stock buyback plan on Thursday, November 6th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 2.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

About Trade Desk

The Trade Desk, Inc (NASDAQ: TTD) is a technology company that provides a demand-side platform (DSP) for programmatic digital advertising. Its platform enables advertisers, agencies and other buyers to plan, purchase and measure ad inventory across digital channels, including display, video, mobile, audio, native and connected TV. By centralizing real‑time bidding, audience targeting and inventory access, the company aims to help clients optimize media spend and reach audiences at scale across publishers and ad exchanges.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk grew from a focus on programmatic display into a global ad‑tech provider.