Raiffeisen Bank International AG has reduced its stake in The Trade Desk (NASDAQ: TTD) by 0.6%, according to a recent filing with the U.S. Securities and Exchange Commission. After selling 2,837 shares during the second quarter, the bank now holds 439,949 shares valued at approximately $30.7 million. This divestment reflects a broader trend among institutional investors in the technology sector.
Several other hedge funds have also adjusted their positions in The Trade Desk. LaFleur & Godfrey LLC entered a new position worth $5.03 million during the second quarter. Congress Park Capital LLC increased its holdings by 13.2%, acquiring an additional 6,257 shares for a total of 53,781 shares, now valued at $3.87 million. Meanwhile, Swedbank AB expanded its position by 32.2%, bringing its total to 552,260 shares worth $39.76 million after purchasing an additional 134,620 shares. First Bank & Trust more than doubled its stake, with a 137.6% increase, now holding 23,166 shares valued at $1.67 million. Overall, hedge funds and institutional investors hold approximately 67.77% of The Trade Desk’s stock.
Analysts Adjust Ratings on Trade Desk
Equity analysts have recently reassessed their ratings on The Trade Desk. Wall Street Zen upgraded the stock from a “sell” to a “hold” rating, while Guggenheim set a price target of $55.00 and assigned a “buy” rating. Zacks Research also shifted its stance, moving from a “strong sell” to a “hold” rating. In contrast, Susquehanna lowered its price target from $135.00 to $85.00 but maintained a “positive” rating. Currently, 21 research analysts have recommended a buy rating, 13 a hold rating, and 3 a sell rating, giving the stock an average rating of “hold” with a consensus target price of $78.33.
Trade Desk’s Stock Performance and Earnings Report
The Trade Desk’s stock opened at $41.93 on November 6, 2023. The company’s 50-day moving average is $48.79, while the 200-day moving average stands at $62.44. With a market capitalization of $20.28 billion, the company has a price-to-earnings (P/E) ratio of 48.20 and a beta of 1.43. The stock has experienced a fifty-two week low of $41.50 and a high of $141.53.
In its most recent quarterly earnings report, The Trade Desk announced earnings per share (EPS) of $0.45, exceeding analysts’ expectations of $0.44. The company reported revenues of $739.43 million, surpassing the consensus estimate of $719.11 million. This marks a 17.7% increase in revenue compared to the same quarter last year. The company also set guidance for the fourth quarter of 2025, projecting an EPS of $1.06 for the current year.
Additionally, The Trade Desk’s Board of Directors has initiated a stock buyback plan, allowing the company to repurchase up to $500 million in outstanding shares, representing approximately 2.1% of its shares. Such buyback plans often indicate that a company’s leadership believes its stock is undervalued.
In related news, Director Andrea Lee Cunningham sold 1,403 shares of The Trade Desk on September 10, 2023, at an average price of $48.20, amounting to a total transaction of $67,624.60. Following this sale, Cunningham holds 5,035 shares valued at approximately $242,687, reflecting a 21.79% decrease in her position.
The Trade Desk operates both in the United States and internationally, providing a self-service cloud-based platform that enables buyers to manage and optimize data-driven digital advertising campaigns across various media formats. For more detailed insights on hedge fund holdings, investors can visit HoldingsChannel.com for the latest filings and insider trades related to The Trade Desk.
