Nikko Asset Management Americas Inc. Raises Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Nikko Asset Management Americas Inc. increased its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 10.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 807,479 shares of the technology company’s stock after purchasing an additional 75,199 shares during the period. Trade Desk makes up 1.0% of Nikko Asset Management Americas Inc.’s holdings, making the stock its 29th biggest position. Nikko Asset Management Americas Inc. owned approximately 0.16% of Trade Desk worth $94,863,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ithaka Group LLC increased its holdings in Trade Desk by 4.5% in the third quarter. Ithaka Group LLC now owns 112,888 shares of the technology company’s stock valued at $12,378,000 after buying an additional 4,836 shares in the last quarter. Lyell Wealth Management LP increased its holdings in Trade Desk by 24.3% in the fourth quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock valued at $11,558,000 after buying an additional 19,204 shares in the last quarter. Nordea Investment Management AB increased its holdings in Trade Desk by 36.2% in the fourth quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock valued at $159,132,000 after buying an additional 358,350 shares in the last quarter. Swiss National Bank increased its holdings in Trade Desk by 0.3% in the third quarter. Swiss National Bank now owns 1,321,400 shares of the technology company’s stock valued at $144,892,000 after buying an additional 4,500 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Trade Desk by 3.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,109,380 shares of the technology company’s stock valued at $231,294,000 after buying an additional 68,206 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Insider Transactions at Trade Desk

In related news, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the sale, the insider now directly owns 169,464 shares of the company’s stock, valued at $20,225,528.40. This represents a 9.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the sale, the chief executive officer now directly owns 704,229 shares in the company, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,029 shares of company stock worth $5,004,296. 9.72% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on TTD shares. Wolfe Research lifted their price objective on shares of Trade Desk from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. UBS Group boosted their target price on shares of Trade Desk from $116.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. New Street Research raised shares of Trade Desk from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $85.00 to $115.00 in a research note on Monday, November 25th. Oppenheimer cut their target price on shares of Trade Desk from $135.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Finally, Wells Fargo & Company cut their target price on shares of Trade Desk from $142.00 to $101.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $119.45.

Trade Desk Price Performance

NASDAQ:TTD opened at $53.94 on Monday. The firm has a market capitalization of $26.76 billion, a price-to-earnings ratio of 69.15, a PEG ratio of 3.11 and a beta of 1.63. The company’s 50-day moving average is $97.79 and its two-hundred day moving average is $111.58. The Trade Desk, Inc. has a 1-year low of $53.42 and a 1-year high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. As a group, equities analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 12th that allows the company to buyback $564.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 0.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

About Trade Desk

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.