PNC Financial Services Group Inc. Buys 3,696 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Posted by Defense World Staff on May 28th, 2023

PNC Financial Services Group Inc. boosted its position in shares of The Trade Desk, Inc. (NASDAQ:TTD – Get Rating) by 7.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 51,752 shares of the technology company’s stock after acquiring an additional 3,696 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Trade Desk were worth $2,320,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. MetLife Investment Management LLC purchased a new position in shares of Trade Desk during the 1st quarter valued at about $1,946,000. Synovus Financial Corp boosted its holdings in Trade Desk by 32.8% in the 1st quarter. Synovus Financial Corp now owns 8,079 shares of the technology company’s stock worth $561,000 after buying an additional 1,996 shares during the period. Vontobel Holding Ltd. increased its stake in Trade Desk by 43.0% in the 1st quarter. Vontobel Holding Ltd. now owns 14,220 shares of the technology company’s stock worth $1,019,000 after buying an additional 4,276 shares in the last quarter. Aviva PLC increased its stake in Trade Desk by 8.5% in the 1st quarter. Aviva PLC now owns 103,185 shares of the technology company’s stock worth $7,146,000 after buying an additional 8,059 shares in the last quarter. Finally, National Pension Service raised its holdings in Trade Desk by 11.2% during the first quarter. National Pension Service now owns 657,768 shares of the technology company’s stock valued at $45,550,000 after acquiring an additional 66,179 shares during the period. Institutional investors own 67.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Vertical Research upgraded Trade Desk from a “neutral” rating to a “positive” rating in a research report on Wednesday, May 3rd. Truist Financial upped their target price on shares of Trade Desk from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, May 11th. KeyCorp lifted their price target on shares of Trade Desk from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, May 11th. Guggenheim dropped their price objective on shares of Trade Desk from $75.00 to $70.00 and set a “buy” rating for the company in a report on Monday, March 27th. Finally, Royal Bank of Canada lifted their target price on Trade Desk from $75.00 to $77.00 and gave the stock an “outperform” rating in a report on Thursday, May 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.67.

Insider Buying and Selling at Trade Desk

In other news, CTO David Randall Pickles sold 477,194 shares of the stock in a transaction on Monday, March 27th. The stock was sold at an average price of $60.67, for a total transaction of $28,951,359.98. Following the transaction, the chief technology officer now owns 470,930 shares of the company’s stock, valued at approximately $28,571,323.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CTO David Randall Pickles sold 477,194 shares of Trade Desk stock in a transaction that occurred on Monday, March 27th. The shares were sold at an average price of $60.67, for a total transaction of $28,951,359.98. Following the transaction, the chief technology officer now directly owns 470,930 shares of the company’s stock, valued at $28,571,323.10. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gokul Rajaram sold 2,999 shares of the business’s stock in a transaction that occurred on Wednesday, April 19th. The stock was 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 directly owns 71,060 shares of the company’s stock, valued at approximately $4,329,685.80. The disclosure for this sale can be found here. Insiders sold a total of 964,789 shares of company stock valued at $58,349,440 in the last ninety days. Corporate insiders own 10.81% of the company’s stock.

Trade Desk Trading Up 2.1 %

Shares of TTD opened at $67.67 on Friday. The firm has a market capitalization of $33.08 billion, a P/E ratio of 451.13, a P/E/G ratio of 6.17 and a beta of 1.80. The Trade Desk, Inc. has a 12-month low of $39.00 and a 12-month high of $76.75. The firm has a fifty day moving average price of $62.31 and a 200-day moving average price of $54.55.

Trade Desk (NASDAQ:TTD – Get Rating) last issued its earnings results on Wednesday, May 10th. The technology company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.05. Trade Desk had a net margin of 4.70% and a return on equity of 3.99%. The business had revenue of $382.80 million for the quarter, compared to the consensus estimate of $364.85 million. Analysts predict that The Trade Desk, Inc. will post 0.46 earnings per share for the current year.

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.