Metis Global Partners LLC Grows Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Metis Global Partners LLC increased its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 44.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,517 shares of the technology company’s stock after buying an additional 3,219 shares during the quarter. Metis Global Partners LLC’s holdings in Trade Desk were worth $1,236,000 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 the stock. SVB Wealth LLC purchased a new position in Trade Desk during the fourth quarter worth approximately $503,000. Proficio Capital Partners LLC purchased a new position in Trade Desk during the fourth quarter worth approximately $23,484,000. Oppenheimer & Co. Inc. lifted its position in Trade Desk by 11.1% during the fourth quarter. Oppenheimer & Co. Inc. now owns 56,958 shares of the technology company’s stock worth $6,694,000 after buying an additional 5,688 shares in the last quarter. Whipplewood Advisors LLC acquired a new stake in Trade Desk during the fourth quarter worth $87,000. Finally, National Pension Service increased its stake in Trade Desk by 104.1% during the fourth quarter. National Pension Service now owns 1,264,985 shares of the technology company’s stock worth $148,674,000 after acquiring an additional 645,240 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Insiders Place Their Bets

In other news, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value 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 approximately $10,754,459.04. The trade was a 4.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 169,464 shares of the company’s stock, 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. Insiders sold 41,029 shares of company stock valued at $5,004,296 in the last ninety days. Insiders own 9.72% of the company’s stock.

Trade Desk Price Performance

Shares of NASDAQ TTD opened at $67.17 on Tuesday. The company has a market capitalization of $33.32 billion, a price-to-earnings ratio of 86.12, a price-to-earnings-growth ratio of 3.11 and a beta of 1.45. The business has a 50-day moving average of $109.60 and a two-hundred day moving average of $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 announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, equities research analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

TTD has been the subject of several recent analyst reports. JMP Securities cut their target price on Trade Desk from $150.00 to $115.00 and set a “market outperform” rating for the company in a research note on Thursday, February 13th. 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, February 13th. UBS Group raised their target price on Trade Desk from $116.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Stifel Nicolaus cut their target price on Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, New Street Research raised Trade Desk from a “sell” rating to a “neutral” rating and raised their target price for the stock from $85.00 to $115.00 in a research note on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $119.45.

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.