Magnetar Financial LLC Invests $832,000 in The Trade Desk, Inc. (NASDAQ:TTD)

Magnetar Financial LLC purchased a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 7,077 shares of the technology company’s stock, valued at approximately $832,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rialto Wealth Management LLC bought a new position in Trade Desk in the 4th quarter valued at approximately $26,000. Harbor Investment Advisory LLC lifted its stake in Trade Desk by 68.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after purchasing an additional 117 shares during the last quarter. Synergy Asset Management LLC bought a new position in Trade Desk in the 4th quarter valued at approximately $34,000. Midwest Capital Advisors LLC bought a new position in Trade Desk in the 4th quarter valued at approximately $34,000. Finally, Exchange Traded Concepts LLC bought a new position in Trade Desk in the 4th quarter valued at approximately $35,000. Institutional investors own 67.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wells Fargo & Company decreased their price target on shares of Trade Desk from $142.00 to $101.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. New Street Research upgraded shares of Trade Desk from a “sell” rating to a “neutral” rating and upped their price target for the company from $85.00 to $115.00 in a research report on Monday, November 25th. Cantor Fitzgerald decreased their price target 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. Morgan Stanley decreased their price target on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Finally, Scotiabank decreased their price target on shares of Trade Desk from $133.00 to $83.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.41.

Trade Desk Trading Up 0.8 %

Trade Desk stock opened at $56.31 on Friday. The Trade Desk, Inc. has a 1-year low of $53.39 and a 1-year high of $141.53. The firm has a market capitalization of $27.93 billion, a price-to-earnings ratio of 72.19, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The firm’s fifty day moving average price is $91.14 and its two-hundred day moving average price is $109.79.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data 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 net margin of 16.08% and a return on equity of 16.38%. On average, research analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk declared that its board has authorized a share repurchase plan on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 0.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Trade Desk

In related news, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the transaction, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jay R. Grant sold 18,524 shares of the firm’s 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 directly owns 169,464 shares in the company, valued at $20,225,528.40. The trade was a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,029 shares of company stock valued at $5,004,296. Corporate insiders own 9.72% of the company’s stock.

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.