Principal Financial Group Inc. Sells 3,142 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Principal Financial Group Inc. trimmed its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 1.7% in the 4th quarter, Holdings Channel reports. The fund owned 179,558 shares of the technology company’s stock after selling 3,142 shares during the quarter. Principal Financial Group Inc.’s holdings in Trade Desk were worth $21,103,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of TTD. Foundations Investment Advisors LLC bought a new stake in shares of Trade Desk in the third quarter valued at approximately $218,000. Hennion & Walsh Asset Management Inc. bought a new position in Trade Desk in the third quarter worth $240,000. Dakota Wealth Management lifted its position in Trade Desk by 5.5% in the third quarter. Dakota Wealth Management now owns 17,366 shares of the technology company’s stock worth $1,904,000 after purchasing an additional 904 shares during the period. Mediolanum International Funds Ltd lifted its position in Trade Desk by 6.6% in the third quarter. Mediolanum International Funds Ltd now owns 33,807 shares of the technology company’s stock worth $3,694,000 after purchasing an additional 2,098 shares during the period. Finally, Allworth Financial LP lifted its position in Trade Desk by 2.7% in the third quarter. Allworth Financial LP now owns 3,738 shares of the technology company’s stock worth $410,000 after purchasing an additional 97 shares during the period. 67.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Trade Desk 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 transaction of $2,283,886.08. Following the transaction, the chief executive officer now owns 704,229 shares in the company, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the transaction, the insider now owns 90,709 shares in the company, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,029 shares of company stock worth $5,004,296 over the last three months. 9.72% of the stock is currently owned by company insiders.

Trade Desk Stock Down 4.8 %

Shares of TTD stock opened at $72.06 on Monday. The stock has a 50-day moving average price of $115.27 and a 200 day moving average price of $115.30. The firm has a market cap of $35.57 billion, a price-to-earnings ratio of 92.38, a PEG ratio of 3.11 and a beta of 1.45. The Trade Desk, Inc. has a 12 month low of $71.61 and a 12 month high of $141.53.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 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%. Sell-side analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its board has authorized a stock buyback plan on Wednesday, February 12th that allows the company to buyback $564.00 million in outstanding shares. This buyback authorization allows the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages recently commented on TTD. Citizens Jmp raised Trade Desk to a “strong-buy” rating in a research report on Tuesday, January 21st. Wells Fargo & Company reduced their target price on Trade Desk from $142.00 to $101.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Benchmark reaffirmed a “sell” rating and issued a $57.00 target price on shares of Trade Desk in a research report on Friday, November 8th. Cantor Fitzgerald reduced their target price on Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Finally, Stifel Nicolaus reduced their target price on Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $119.45.

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.