LGT Fund Management Co Ltd. Acquires Shares of 2,620 The Trade Desk, Inc. (NASDAQ:TTD)

LGT Fund Management Co Ltd. purchased a new stake in The Trade Desk, Inc. (NASDAQ:TTD) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,620 shares of the technology company’s stock, valued at approximately $308,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TTD. Ithaka Group LLC grew its holdings in Trade Desk by 4.5% during the third quarter. Ithaka Group LLC now owns 112,888 shares of the technology company’s stock worth $12,378,000 after acquiring an additional 4,836 shares during the period. Lyell Wealth Management LP grew its stake in shares of Trade Desk by 24.3% during the 4th quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock worth $11,558,000 after purchasing an additional 19,204 shares during the period. Nordea Investment Management AB increased its holdings in shares of Trade Desk by 36.2% during the 4th quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock valued at $159,132,000 after purchasing an additional 358,350 shares in the last quarter. Assetmark Inc. lifted its stake in shares of Trade Desk by 2,461.2% in the 3rd quarter. Assetmark Inc. now owns 73,559 shares of the technology company’s stock valued at $8,066,000 after purchasing an additional 70,687 shares during the period. Finally, Swiss National Bank boosted its holdings in Trade Desk by 0.3% during the third quarter. Swiss National Bank now owns 1,321,400 shares of the technology company’s stock worth $144,892,000 after buying an additional 4,500 shares in the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Price Performance

Trade Desk stock opened at $67.17 on Tuesday. The stock has a market cap of $33.32 billion, a PE ratio of 86.12, a P/E/G ratio of 3.11 and a beta of 1.45. The stock’s fifty day moving average is $109.60 and its two-hundred day moving average is $114.47. The Trade Desk, Inc. has a 1-year low of $66.82 and a 1-year high of $141.53.

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

Trade Desk announced that its board has approved a share repurchase 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 typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the completion of the sale, the insider now directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total value 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 $88,338,485.76. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,029 shares of company stock worth $5,004,296 over the last 90 days. Corporate insiders own 9.72% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on TTD shares. Macquarie lifted their price objective on shares of Trade Desk from $133.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. New Street Research upgraded Trade Desk from a “sell” rating to a “neutral” rating and lifted their price target for the company from $85.00 to $115.00 in a research note on Monday, November 25th. Stifel Nicolaus dropped their price objective on Trade Desk from $144.00 to $122.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Truist Financial reduced their target price on Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, JMP Securities dropped their price target on shares of Trade Desk from $150.00 to $115.00 and set a “market outperform” rating on the stock in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $119.45.

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.