DnB Asset Management AS Grows Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

DnB Asset Management AS increased its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 8.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 80,676 shares of the technology company’s stock after purchasing an additional 6,096 shares during the period. DnB Asset Management AS’s holdings in Trade Desk were worth $9,482,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in TTD. Rialto Wealth Management LLC purchased a new position in Trade Desk in the 4th quarter valued at approximately $26,000. Harbor Investment Advisory LLC raised its stake in shares of Trade Desk by 68.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after acquiring an additional 117 shares in the last quarter. Synergy Asset Management LLC purchased a new position in Trade Desk in the fourth quarter valued at $34,000. Midwest Capital Advisors LLC acquired a new position in Trade Desk during the 4th quarter worth $34,000. Finally, Zions Bancorporation N.A. grew its stake in Trade Desk by 148.3% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock worth $34,000 after purchasing an additional 175 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TTD shares. Robert W. Baird decreased their price objective on Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. KeyCorp lowered their price target on shares of Trade Desk from $130.00 to $74.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Wedbush increased their price objective on shares of Trade Desk from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Cfra Research raised shares of Trade Desk to a “moderate buy” rating in a research report on Tuesday, March 25th. Finally, Royal Bank of Canada dropped their target price on Trade Desk from $120.00 to $100.00 and set an “outperform” rating on the stock in a report on Monday, March 17th. Six research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Trade Desk has a consensus rating of “Moderate Buy” and a consensus price target of $116.41.

Trade Desk Stock Performance

Shares of TTD opened at $55.85 on Friday. The Trade Desk, Inc. has a 1 year low of $53.39 and a 1 year high of $141.53. The stock has a market capitalization of $27.71 billion, a P/E ratio of 71.60, a P/E/G ratio of 3.11 and a beta of 1.63. The company’s fifty day moving average is $85.01 and its two-hundred day moving average is $108.37.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (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%. Sell-side analysts predict that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk declared that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the sale, the insider now owns 90,709 shares of the company’s stock, valued at $10,754,459.04. The trade was a 4.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the completion of the transaction, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at $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. Insiders have sold 41,029 shares of company stock valued at $5,004,296 over the last quarter. Company insiders own 9.72% of the company’s stock.

Trade Desk 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.