Rakuten Securities Inc. Acquires 652 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Rakuten Securities Inc. lifted its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 407.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 812 shares of the technology company’s stock after acquiring an additional 652 shares during the period. Rakuten Securities Inc.’s holdings in Trade Desk were worth $95,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Rialto Wealth Management LLC bought a new stake in Trade Desk in the 4th quarter worth about $26,000. Harbor Investment Advisory LLC grew its position in Trade Desk by 68.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after purchasing an additional 117 shares in the last quarter. Synergy Asset Management LLC bought a new stake in Trade Desk in the 4th quarter worth about $34,000. Midwest Capital Advisors LLC bought a new stake in Trade Desk in the 4th quarter worth about $34,000. Finally, Exchange Traded Concepts LLC bought a new stake in Trade Desk in the 4th quarter worth about $35,000. 67.77% of the stock is owned by institutional investors.

Trade Desk Stock Performance

Trade Desk stock opened at $60.20 on Thursday. The firm’s fifty day moving average price is $101.57 and its 200-day moving average price is $112.58. The stock has a market cap of $29.86 billion, a P/E ratio of 77.18, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a fifty-two week low of $57.86 and a fifty-two week high of $141.53.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. On average, analysts predict 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 buyback plan on Wednesday, February 12th that allows the company to buyback $564.00 million in outstanding shares. This buyback authorization allows the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insider Activity

In related news, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the transaction, the insider now owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This trade represents 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 stock in a transaction on Monday, December 30th. The shares were 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,029 shares of company stock worth $5,004,296. 9.72% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on TTD shares. Stifel Nicolaus reduced their target price on shares of Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Benchmark raised shares of Trade Desk from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. KeyCorp increased their target price on shares of Trade Desk from $140.00 to $142.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. New Street Research raised shares of Trade Desk from a “sell” rating to a “neutral” rating and increased their target price for the company from $85.00 to $115.00 in a research report on Monday, November 25th. Finally, Loop Capital reduced their target price 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. 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 stock. According to MarketBeat, Trade Desk currently has a consensus rating of “Moderate Buy” and a consensus 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.