The Trade Desk, Inc. (NASDAQ:TTD) Shares Acquired by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC lifted its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 9.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,231 shares of the technology company’s stock after acquiring an additional 192 shares during the period. Lake Street Advisors Group LLC’s holdings in Trade Desk were worth $262,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in TTD. Edgewood Management LLC boosted its position in shares of Trade Desk by 133.3% during the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock worth $1,089,280,000 after buying an additional 5,675,571 shares during the period. Jennison Associates LLC boosted its position in shares of Trade Desk by 11.0% during the third quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after buying an additional 2,013,047 shares during the period. Baillie Gifford & Co. boosted its position in shares of Trade Desk by 4.7% during the third quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock worth $4,245,218,000 after buying an additional 1,720,650 shares during the period. Wellington Management Group LLP boosted its position in shares of Trade Desk by 55.3% during the third quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company’s stock worth $169,892,000 after buying an additional 551,925 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its position in Trade Desk by 1,809.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 444,616 shares of the technology company’s stock worth $48,752,000 after purchasing an additional 421,333 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Trading Down 1.7 %

NASDAQ TTD opened at $70.31 on Friday. The Trade Desk, Inc. has a 1-year low of $69.37 and a 1-year high of $141.53. The company has a market capitalization of $34.70 billion, a PE ratio of 90.14, a price-to-earnings-growth ratio of 3.11 and a beta of 1.45. The firm’s fifty day simple moving average is $110.70 and its 200-day simple moving average is $114.44.

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

Trade Desk declared that its board has approved a stock buyback program on Wednesday, February 12th that allows the company to buyback $564.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. BMO Capital Markets cut their target price on Trade Desk from $160.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Citigroup cut 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. Susquehanna cut their target price on Trade Desk from $150.00 to $135.00 and set a “positive” rating for the company in a research report on Thursday, February 13th. Piper Sandler restated 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. Finally, Morgan Stanley cut their target price on Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $119.45.

Insider Transactions at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the transaction, the insider now directly owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jay R. Grant sold 18,524 shares of the company’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 completion of 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 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.

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.