Clearbridge Investments LLC Has $61.59 Million Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Clearbridge Investments LLC grew its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 0.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 524,028 shares of the technology company’s stock after purchasing an additional 1,270 shares during the quarter. Clearbridge Investments LLC owned about 0.11% of Trade Desk worth $61,589,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Summit Securities Group LLC acquired a new position in Trade Desk during the fourth quarter worth $64,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Trade Desk in the 4th quarter valued at about $100,658,000. Allianz SE acquired a new position in shares of Trade Desk during the 4th quarter worth about $266,000. Allstate Corp bought a new stake in shares of Trade Desk in the 4th quarter valued at about $1,549,000. Finally, Brown Brothers Harriman & Co. lifted its stake in Trade Desk by 138.5% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,116 shares of the technology company’s stock valued at $131,000 after purchasing an additional 648 shares during the last quarter. Institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Performance

Trade Desk stock opened at $54.72 on Tuesday. The Trade Desk, Inc. has a 52 week low of $52.90 and a 52 week high of $141.53. The stock has a market capitalization of $27.15 billion, a P/E ratio of 70.15, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The stock has a fifty day moving average of $83.62 and a 200-day moving average of $108.07.

Trade Desk (NASDAQ:TTD) last issued its earnings results 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%. On average, research analysts forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

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

Insider Buying and Selling

In other news, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk stock in a transaction dated 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 of the company’s stock, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the transaction, the insider now directly owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. 9.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TTD has been the topic of a number of recent analyst reports. UBS Group boosted their price target on Trade Desk from $116.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Wolfe Research boosted their target price on Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Robert W. Baird cut their price target on Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Cantor Fitzgerald reduced their price objective on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Finally, KeyCorp dropped their price objective on shares of Trade Desk from $130.00 to $74.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.41.

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.