SBI Securities Co. Ltd. Makes New Investment in The Trade Desk, Inc. (NASDAQ:TTD)

SBI Securities Co. Ltd. bought a new stake in The Trade Desk, Inc. (NASDAQ:TTD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,777 shares of the technology company’s stock, valued at approximately $914,000.

Other hedge funds have also recently modified their holdings of the company. Edgewood Management LLC lifted its stake in 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 during the last quarter. Jennison Associates LLC raised its position in Trade Desk by 11.0% in the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock valued at $2,228,172,000 after purchasing an additional 2,013,047 shares during the last quarter. Baillie Gifford & Co. boosted its stake in Trade Desk by 4.7% during the 3rd quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock worth $4,245,218,000 after purchasing an additional 1,720,650 shares during the period. National Pension Service grew its position in Trade Desk by 104.1% during the 4th quarter. National Pension Service now owns 1,264,985 shares of the technology company’s stock worth $148,674,000 after purchasing an additional 645,240 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Trade Desk by 55.3% in the third quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company’s stock valued at $169,892,000 after purchasing an additional 551,925 shares during the period. 67.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Jay R. Grant sold 18,524 shares of the stock in a transaction dated 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 approximately $20,225,528.40. This represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of the firm’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 in the company, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have 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.

Wall Street Analyst Weigh In

TTD has been the subject of several recent research reports. Royal Bank of Canada decreased their target price on shares of Trade Desk from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. KeyCorp increased their price objective on Trade Desk from $140.00 to $142.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Oppenheimer cut their price target on Trade Desk from $135.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. BMO Capital Markets lowered their price objective on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Finally, Loop Capital cut their price objective on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $119.45.

Trade Desk Price Performance

Shares of Trade Desk stock opened at $67.17 on Tuesday. The Trade Desk, Inc. has a 1 year low of $66.82 and a 1 year high of $141.53. The business has a 50 day moving average price of $109.60 and a 200 day moving average price of $114.47. The company has a market capitalization of $33.32 billion, a P/E ratio of 86.12, a P/E/G ratio of 3.11 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last released 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, research analysts expect that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its board has initiated a stock buyback program on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board 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.