Scotia Capital Inc. Purchases 3,011 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Scotia Capital Inc. boosted its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 75.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,013 shares of the technology company’s stock after acquiring an additional 3,011 shares during the quarter. Scotia Capital Inc.’s holdings in Trade Desk were worth $824,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TTD. Rialto Wealth Management LLC acquired a new stake in shares of Trade Desk in the 4th quarter valued at $26,000. Harbor Investment Advisory LLC lifted its position 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 worth $34,000 after buying an additional 117 shares during the last quarter. Synergy Asset Management LLC bought a new stake in shares of Trade Desk during the 4th quarter worth about $34,000. Midwest Capital Advisors LLC bought a new stake in shares of Trade Desk during the 4th quarter worth about $34,000. Finally, Zions Bancorporation N.A. increased its holdings in shares of Trade Desk by 148.3% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after acquiring an additional 175 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Price Performance

Trade Desk stock opened at $49.78 on Monday. The business has a 50 day simple moving average of $68.37 and a 200 day simple moving average of $103.60. The company has a market capitalization of $24.70 billion, a PE ratio of 63.82, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56. The Trade Desk, Inc. has a one year low of $42.96 and a one year high of $141.53.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data 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%. Equities analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its Board of Directors has authorized a share 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 usually an indication that the company’s board believes its stock is undervalued.

Insider Activity at Trade Desk

In related news, insider Samantha Jacobson sold 4,298 shares of the firm’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 directly owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.72% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TTD has been the subject of a number of recent analyst reports. Scotiabank decreased their target price on 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. Benchmark raised shares of Trade Desk from a “sell” rating to a “hold” rating in a report on Friday, March 7th. DA Davidson dropped their target price on shares of Trade Desk from $134.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Stifel Nicolaus decreased their price target on shares of Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, UBS Group dropped their price objective on Trade Desk from $116.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday. Six investment 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $111.79.

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.