The Trade Desk, Inc. (NASDAQ:TTD) Shares Acquired by Synovus Financial Corp

Posted by Defense World Staff on May 2nd, 2023

Synovus Financial Corp increased its position in The Trade Desk, Inc. (NASDAQ:TTD – Get Rating) by 2.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,815 shares of the technology company’s stock after purchasing an additional 252 shares during the period. Synovus Financial Corp’s holdings in Trade Desk were worth $395,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Retirement Financial Solutions LLC acquired a new position in shares of Trade Desk during the fourth quarter worth approximately $29,000. Evermay Wealth Management LLC acquired a new position in shares of Trade Desk during the fourth quarter worth approximately $30,000. MUFG Americas Holdings Corp acquired a new position in shares of Trade Desk during the third quarter worth approximately $30,000. BDO Wealth Advisors LLC boosted its position in shares of Trade Desk by 250.0% during the third quarter. BDO Wealth Advisors LLC now owns 567 shares of the technology company’s stock worth $34,000 after buying an additional 405 shares during the period. Finally, CI Investments Inc. boosted its position in shares of Trade Desk by 1,003.8% during the third quarter. CI Investments Inc. now owns 585 shares of the technology company’s stock worth $35,000 after buying an additional 532 shares during the period. 67.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TTD. Guggenheim reduced their price objective on Trade Desk from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, March 27th. Oppenheimer boosted their target price on Trade Desk from $60.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 15th. Stephens boosted their target price on Trade Desk from $60.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 16th. Morgan Stanley boosted their target price on Trade Desk from $50.00 to $58.00 and gave the stock an “equal weight” rating in a report on Thursday, February 16th. Finally, Benchmark reaffirmed a “sell” rating and issued a $38.00 price target on shares of Trade Desk in a report on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $71.30.

Trade Desk Trading Down 2.2 %

Shares of NASDAQ:TTD opened at $62.94 on Tuesday. The stock has a market capitalization of $30.89 billion, a PE ratio of 629.46, a P/E/G ratio of 5.84 and a beta of 1.80. The Trade Desk, Inc. has a 1 year low of $39.00 and a 1 year high of $76.75. The firm has a fifty day moving average price of $59.03 and a 200 day moving average price of $52.90.

Trade Desk (NASDAQ:TTD – Get Rating) last released its earnings results on Wednesday, February 15th. The technology company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03). The firm had revenue of $490.74 million for the quarter, compared to analyst estimates of $491.24 million. Trade Desk had a return on equity of 2.86% and a net margin of 3.38%. On average, sell-side analysts forecast that The Trade Desk, Inc. will post 0.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Trade Desk news, Director Gokul Rajaram sold 2,999 shares of the business’s stock in a transaction on Wednesday, April 19th. The shares were sold at an average price of $60.93, for a total transaction of $182,729.07. Following the completion of the transaction, the director now owns 71,060 shares of the company’s stock, valued at approximately $4,329,685.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Gokul Rajaram sold 2,999 shares of the company’s stock in a transaction dated Wednesday, April 19th. The shares were sold at an average price of $60.93, for a total transaction of $182,729.07. Following the completion of the transaction, the director now owns 71,060 shares of the company’s stock, valued at $4,329,685.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO David Randall Pickles sold 2,050 shares of the company’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $60.00, for a total transaction of $123,000.00. Following the transaction, the chief technology officer now directly owns 470,930 shares of the company’s stock, valued at approximately $28,255,800. The disclosure for this sale can be found here. Insiders sold a total of 960,709 shares of company stock valued at $58,092,494 in the last quarter. Insiders own 10.79% of the company’s stock.

Trade Desk Company Profile

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The Trade Desk, Inc engages in the provision of a technology platform for advertising buyers. It operates through the United States and International geographical segments. The firm’s products include audio advertising, mobile advertising, native advertising, data management platform, cross-device targeting, and inventory and marketplaces.