Federated Hermes Inc. Has $22.20 Million Stock Holdings in The Trade Desk $TTD

Federated Hermes Inc. lessened its stake in The Trade Desk (NASDAQ:TTD) by 25.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 308,408 shares of the technology company’s stock after selling 102,892 shares during the quarter. Federated Hermes Inc.’s holdings in Trade Desk were worth $22,202,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Sound Income Strategies LLC raised its position in Trade Desk by 317.6% in the 2nd quarter. Sound Income Strategies LLC now owns 355 shares of the technology company’s stock worth $26,000 after purchasing an additional 270 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Trade Desk in the 2nd quarter valued at $28,000. West Oak Capital LLC raised its position in shares of Trade Desk by 466.7% during the second quarter. West Oak Capital LLC now owns 425 shares of the technology company’s stock worth $31,000 after acquiring an additional 350 shares during the last quarter. HighMark Wealth Management LLC lifted its stake in shares of Trade Desk by 46.2% during the second quarter. HighMark Wealth Management LLC now owns 478 shares of the technology company’s stock valued at $34,000 after acquiring an additional 151 shares during the period. Finally, Vermillion Wealth Management Inc. lifted its stake in shares of Trade Desk by 400.0% during the second quarter. Vermillion Wealth Management Inc. now owns 500 shares of the technology company’s stock valued at $36,000 after acquiring an additional 400 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Stock Performance

Shares of TTD opened at $39.40 on Wednesday. The firm has a market cap of $19.05 billion, a P/E ratio of 45.29, a PEG ratio of 1.96 and a beta of 1.07. The Trade Desk has a twelve month low of $38.22 and a twelve month high of $137.03. The firm’s 50 day moving average price is $46.26 and its two-hundred day moving average price is $58.91.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Thursday, November 6th. The technology company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. Trade Desk had a return on equity of 16.00% and a net margin of 15.72%.The firm had revenue of $739.43 million for the quarter, compared to the consensus estimate of $719.11 million. During the same quarter last year, the business posted $0.41 EPS. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, sell-side analysts anticipate that The Trade Desk will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its board has authorized a share buyback plan on Thursday, November 6th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to purchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

TTD has been the subject of several recent research reports. JMP Securities set a $60.00 price objective on Trade Desk and gave the stock a “market outperform” rating in a report on Tuesday, September 30th. Needham & Company LLC dropped their price target on shares of Trade Desk from $84.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Benchmark raised shares of Trade Desk from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Friday, November 7th. Wall Street Zen upgraded shares of Trade Desk from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Rosenblatt Securities cut their price target on Trade Desk from $78.00 to $64.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Twenty-one investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $76.88.

Trade Desk Company 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.