Quantbot Technologies LP Purchases New Shares in The Trade Desk, Inc. (NASDAQ:TTD)

Quantbot Technologies LP bought a new stake in The Trade Desk, Inc. (NASDAQ:TTD) in the fourth quarter, Holdings Channel.com reports. The firm bought 74,623 shares of the technology company’s stock, valued at approximately $8,770,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Ithaka Group LLC boosted its holdings in shares of Trade Desk by 4.5% during the 3rd quarter. Ithaka Group LLC now owns 112,888 shares of the technology company’s stock worth $12,378,000 after purchasing an additional 4,836 shares during the last quarter. Lyell Wealth Management LP raised its holdings 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 acquiring an additional 19,204 shares during the period. Nordea Investment Management AB grew its holdings in shares of Trade Desk by 36.2% in the fourth 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 during the period. Swiss National Bank increased its position 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 purchasing an additional 4,500 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Trade Desk by 3.3% during the third 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 purchasing an additional 68,206 shares during the period. 67.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TTD has been the subject of several recent analyst reports. Wolfe Research raised their target price on Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Citigroup dropped their target price 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. Benchmark upgraded Trade Desk from a “sell” rating to a “hold” rating in a report on Friday, March 7th. KeyCorp upped their price target on Trade Desk from $140.00 to $142.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 target price (down from $140.00) on shares of Trade Desk in a research report on Thursday, February 13th. Six research 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 currently has an average rating of “Moderate Buy” and an average price target of $119.45.

Insider Transactions at Trade Desk

In related news, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 169,464 shares in the company, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 stock was sold at an average price of $125.44, for a total value 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. Insiders sold 41,029 shares of company stock valued at $5,004,296 over the last 90 days. Corporate insiders own 9.72% of the company’s stock.

Trade Desk Price Performance

TTD opened at $53.88 on Friday. The stock has a market capitalization of $26.73 billion, a price-to-earnings ratio of 69.08, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 12 month low of $53.74 and a 12 month high of $141.53. The business has a 50-day moving average of $100.42 and a two-hundred day moving average of $112.21.

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

Trade Desk announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to buyback $564.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 0.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.