The Trade Desk, Inc. (NASDAQ:TTD) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD – Get Rating) by 472.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 335,141 shares of the technology company’s stock after purchasing an additional 276,629 shares during the period. Principal Financial Group Inc.’s holdings in Trade Desk were worth $15,024,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in TTD. Valeo Financial Advisors LLC grew its holdings in shares of Trade Desk by 16.3% during the fourth quarter. Valeo Financial Advisors LLC now owns 6,202 shares of the technology company’s stock worth $278,000 after buying an additional 867 shares in the last quarter. Aviva PLC grew its holdings in shares of Trade Desk by 132.1% during the fourth quarter. Aviva PLC now owns 159,062 shares of the technology company’s stock worth $7,131,000 after buying an additional 90,538 shares in the last quarter. EFG Asset Management Americas Corp. grew its holdings in shares of Trade Desk by 3.4% in the fourth quarter. EFG Asset Management Americas Corp. now owns 56,238 shares of the technology company’s stock valued at $2,521,000 after purchasing an additional 1,839 shares during the period. Huntington National Bank grew its holdings in shares of Trade Desk by 24.4% in the fourth quarter. Huntington National Bank now owns 1,235 shares of the technology company’s stock valued at $55,000 after purchasing an additional 242 shares during the period. Finally, HBK Sorce Advisory LLC grew its holdings in shares of Trade Desk by 96.5% in the fourth quarter. HBK Sorce Advisory LLC now owns 29,862 shares of the technology company’s stock valued at $1,339,000 after purchasing an additional 14,665 shares during the period. 67.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions 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 shares were sold at an average price of $60.67, for a total value of $28,951,359.98. Following the completion of the sale, the chief technology officer now owns 470,930 shares of the company’s stock, valued at $28,571,323.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Gokul Rajaram sold 2,999 shares of the firm’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 sale, the director now directly 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 is available through the SEC website. Also, CTO David Randall Pickles sold 477,194 shares of the firm’s stock in a transaction 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 sale, the chief technology officer now directly owns 470,930 shares of the company’s stock, valued at $28,571,323.10. The disclosure for this sale can be found here. Insiders sold 964,789 shares of company stock valued at $58,349,440 over the last 90 days. Corporate insiders own 10.81% of the company’s stock.

Trade Desk Price Performance

Shares of NASDAQ TTD opened at $66.82 on Wednesday. The Trade Desk, Inc. has a 12-month low of $39.00 and a 12-month high of $76.75. The company has a market capitalization of $32.66 billion, a PE ratio of 445.47, a price-to-earnings-growth ratio of 6.37 and a beta of 1.80. The firm’s 50-day moving average is $61.76 and its two-hundred day moving average is $54.14.

Trade Desk (NASDAQ:TTD – Get Rating) last announced its quarterly earnings data on Wednesday, May 10th. The technology company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.05. The business had revenue of $382.80 million for the quarter, compared to the consensus estimate of $364.85 million. Trade Desk had a net margin of 4.70% and a return on equity of 3.99%. On average, analysts forecast that The Trade Desk, Inc. will post 0.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TTD. Morgan Stanley upped their price objective on shares of Trade Desk from $58.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, May 11th. Needham & Company LLC upped their price objective on shares of Trade Desk from $68.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, May 11th. Vertical Research raised shares of Trade Desk from a “neutral” rating to a “positive” rating in a research note on Wednesday, May 3rd. DA Davidson lifted their target price on shares of Trade Desk from $76.00 to $77.00 in a report on Friday, May 12th. Finally, Benchmark reiterated a “sell” rating and issued a $38.00 target price on shares of Trade Desk in a report on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $70.67.

About Trade Desk

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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.