PDS Planning Inc Buys New Position in The Trade Desk, Inc. (NASDAQ:TTD)

PDS Planning Inc bought a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,830 shares of the technology company’s stock, valued at approximately $215,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Jennison Associates LLC raised its holdings in shares of Trade Desk by 11.0% in the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after purchasing an additional 2,013,047 shares in the last quarter. Edgewood Management LLC increased its holdings in shares of Trade Desk by 133.3% in the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock valued at $1,089,280,000 after buying an additional 5,675,571 shares in the last quarter. FMR LLC lifted its position in shares of Trade Desk by 1.3% during the 3rd quarter. FMR LLC now owns 2,616,203 shares of the technology company’s stock valued at $286,867,000 after acquiring an additional 32,999 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Trade Desk by 3.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,109,380 shares of the technology company’s stock worth $231,294,000 after acquiring an additional 68,206 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Trade Desk by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,019,707 shares of the technology company’s stock worth $237,376,000 after acquiring an additional 5,080 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors.

Trade Desk Stock Up 3.2 %

Shares of Trade Desk stock opened at $55.32 on Thursday. The Trade Desk, Inc. has a 12-month low of $53.39 and a 12-month high of $141.53. The stock has a 50 day moving average price of $93.70 and a two-hundred day moving average price of $110.50. The stock has a market capitalization of $27.44 billion, a P/E ratio of 70.92, a PEG ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last posted 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%. Sell-side analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk declared that its board has approved a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $119.35, for a total value of $2,210,839.40. Following the sale, the insider now owns 169,464 shares in the company, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction on 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 owns 704,229 shares of the company’s stock, valued at approximately $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. Over the last ninety days, insiders have sold 41,029 shares of company stock valued at $5,004,296. 9.72% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TTD shares. Citigroup decreased their price target on Trade Desk from $140.00 to $108.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Truist Financial decreased their target price on shares of Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, February 13th. DA Davidson cut their price target 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. Benchmark raised shares of Trade Desk from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Needham & Company LLC reissued a “buy” rating and set a $145.00 target price on shares of Trade Desk in a research note on Thursday, March 13th. Six investment 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $116.41.

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.