Fmr LLC Increases Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Fmr LLC boosted its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 44.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,788,285 shares of the technology company’s stock after purchasing an additional 1,172,082 shares during the period. Fmr LLC owned about 0.77% of Trade Desk worth $445,237,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of TTD. Rialto Wealth Management LLC purchased a new position in Trade Desk in the 4th quarter worth approximately $26,000. Harbor Investment Advisory LLC increased 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 worth $34,000 after purchasing an additional 117 shares during the period. Synergy Asset Management LLC purchased a new position in Trade Desk in the 4th quarter worth approximately $34,000. Midwest Capital Advisors LLC purchased a new position in Trade Desk in the 4th quarter worth approximately $34,000. Finally, Zions Bancorporation N.A. increased its stake in Trade Desk by 148.3% in 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 during the period. 67.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Cfra Research upgraded Trade Desk to a “moderate buy” rating in a research report on Tuesday, March 25th. BMO Capital Markets cut their price objective on Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. UBS Group lifted their price objective on Trade Desk from $116.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Citizens Jmp upgraded Trade Desk to a “strong-buy” rating in a research report on Tuesday, January 21st. Finally, Evercore ISI lowered Trade Desk from an “outperform” rating to an “inline” rating and cut their price objective for the stock from $135.00 to $90.00 in a research report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Trade Desk has a consensus rating of “Moderate Buy” and a consensus target price of $114.14.

Trade Desk Price Performance

TTD stock opened at $54.12 on Thursday. The Trade Desk, Inc. has a 1-year low of $42.96 and a 1-year high of $141.53. The business has a fifty day moving average price of $71.01 and a 200-day moving average price of $104.49. The stock has a market capitalization of $26.85 billion, a P/E ratio of 69.38, a P/E/G ratio of 3.11 and a beta of 1.56.

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

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

Insider Transactions at Trade Desk

In related news, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 90,709 shares in the company, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.