The Trade Desk $TTD Holdings Trimmed by Federated Hermes Inc.

Federated Hermes Inc. reduced its position in shares of The Trade Desk (NASDAQ:TTD) by 25.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 308,408 shares of the technology company’s stock after selling 102,892 shares during the quarter. Federated Hermes Inc. owned 0.06% of Trade Desk worth $22,202,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Sound Income Strategies LLC lifted its stake in Trade Desk by 317.6% in the 2nd quarter. Sound Income Strategies LLC now owns 355 shares of the technology company’s stock worth $26,000 after acquiring an additional 270 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Trade Desk in the second quarter worth approximately $28,000. West Oak Capital LLC lifted its position in shares of Trade Desk by 466.7% in the second quarter. West Oak Capital LLC now owns 425 shares of the technology company’s stock worth $31,000 after purchasing an additional 350 shares in the last quarter. HighMark Wealth Management LLC boosted its holdings in shares of Trade Desk by 46.2% during the second quarter. HighMark Wealth Management LLC now owns 478 shares of the technology company’s stock worth $34,000 after purchasing an additional 151 shares during the period. Finally, Vermillion Wealth Management Inc. grew its position in Trade Desk by 400.0% during the second quarter. Vermillion Wealth Management Inc. now owns 500 shares of the technology company’s stock valued at $36,000 after purchasing an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada set a $80.00 target price on shares of Trade Desk and gave the company an “outperform” rating in a research note on Friday, November 7th. Wall Street Zen raised Trade Desk from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. UBS Group reaffirmed a “buy” rating and issued a $82.00 target price (up from $80.00) on shares of Trade Desk in a research report on Friday, November 7th. Guggenheim set a $55.00 price target on Trade Desk and gave the company a “buy” rating in a report on Monday, September 29th. Finally, Wedbush lowered their price target on Trade Desk from $50.00 to $40.00 and set a “neutral” rating for the company in a research note on Monday. Twenty-one analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Trade Desk has an average rating of “Moderate Buy” and an average price target of $76.88.

Trade Desk Price Performance

NASDAQ:TTD opened at $39.40 on Wednesday. The Trade Desk has a one year low of $38.22 and a one year high of $137.03. The company has a fifty day moving average price of $46.26 and a 200 day moving average price of $58.91. The stock has a market cap of $19.05 billion, a P/E ratio of 45.29, a PEG ratio of 1.96 and a beta of 1.07.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Thursday, November 6th. The technology company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.01. The company had revenue of $739.43 million for the quarter, compared to analyst estimates of $719.11 million. Trade Desk had a return on equity of 16.00% and a net margin of 15.72%.Trade Desk’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.41 EPS. As a group, equities research analysts anticipate that The Trade Desk will post 1.06 EPS for the current year.

Trade Desk declared that its Board of Directors has initiated a share buyback plan on Thursday, November 6th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 2.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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.