Andra AP fonden Takes $693,000 Position in The Trade Desk, Inc. (NASDAQ:TTD)

Andra AP fonden bought a new stake in The Trade Desk, Inc. (NASDAQ:TTD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,900 shares of the technology company’s stock, valued at approximately $693,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ithaka Group LLC boosted its stake in shares of 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 during the period. Lyell Wealth Management LP boosted its stake in shares of 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 during the period. Nordea Investment Management AB boosted its stake in shares of 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 during the period. Assetmark Inc. boosted its stake in shares of Trade Desk by 2,461.2% in the third quarter. Assetmark Inc. now owns 73,559 shares of the technology company’s stock valued at $8,066,000 after buying an additional 70,687 shares during the period. Finally, Swiss National Bank boosted its stake in shares of 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 during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Macquarie boosted their price target on Trade Desk from $133.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Piper Sandler restated an “overweight” rating and set a $110.00 target price (down from $140.00) on shares of Trade Desk in a research note on Thursday, February 13th. Wells Fargo & Company cut their target price on Trade Desk from $142.00 to $101.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Needham & Company LLC restated a “buy” rating and set a $145.00 target price on shares of Trade Desk in a research note on Friday. Finally, New Street Research upgraded Trade Desk from a “sell” rating to a “neutral” rating and upped their target price for the stock from $85.00 to $115.00 in a research note on Monday, November 25th. 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’s stock. According to MarketBeat, Trade Desk has a consensus rating of “Moderate Buy” and a consensus price target of $119.45.

Trade Desk Trading Down 0.1 %

Shares of Trade Desk stock opened at $64.91 on Monday. The business has a 50-day moving average price of $103.94 and a two-hundred day moving average price of $113.21. The Trade Desk, Inc. has a 1-year low of $63.82 and a 1-year high of $141.53. The company has a market cap of $32.20 billion, a P/E ratio of 83.22, a PEG ratio of 3.11 and a beta of 1.63.

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

Trade Desk declared that its board has initiated a share buyback program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Jay R. Grant sold 18,524 shares of the stock in a transaction dated 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 transaction, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the transaction, the insider now directly owns 90,709 shares in the company, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,029 shares of company stock worth $5,004,296. Company insiders own 9.72% of the company’s stock.

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.