Arrowstreet Capital Limited Partnership Buys New Position in The Trade Desk, Inc. (NASDAQ:TTD)

Arrowstreet Capital Limited Partnership bought a new stake in The Trade Desk, Inc. (NASDAQ:TTD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 856,448 shares of the technology company’s stock, valued at approximately $100,658,000.

A number of other large investors have also recently bought and sold shares of TTD. Rialto Wealth Management LLC bought a new position in shares of Trade Desk in the 4th quarter valued at about $26,000. Harbor Investment Advisory LLC grew its stake in Trade Desk by 68.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after purchasing an additional 117 shares in the last quarter. Midwest Capital Advisors LLC acquired a new position in shares of Trade Desk during the 4th quarter worth approximately $34,000. Zions Bancorporation N.A. raised its stake in shares of Trade Desk by 148.3% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock worth $34,000 after purchasing an additional 175 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Trade Desk in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TTD shares. Stifel Nicolaus lowered their target price on shares of Trade Desk from $144.00 to $122.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. BMO Capital Markets dropped their target price on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Royal Bank of Canada lowered their price target on Trade Desk from $120.00 to $100.00 and set an “outperform” rating on the stock in a research report on Monday, March 17th. Citigroup cut their price objective 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. Finally, Cfra Research raised Trade Desk to a “moderate buy” rating in a report on Tuesday, March 25th. Six analysts have rated the stock with 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.com, Trade Desk currently has an average rating of “Moderate Buy” and an average target price of $115.41.

Insiders Place Their Bets

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 transaction of $509,570.88. Following the completion of the transaction, the insider now directly owns 90,709 shares in the company, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the sale, the chief executive officer now directly owns 704,229 shares in the company, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.72% of the company’s stock.

Trade Desk Price Performance

Shares of TTD opened at $54.72 on Tuesday. The firm has a 50 day simple moving average of $83.62 and a two-hundred day simple moving average of $108.07. The Trade Desk, Inc. has a one year low of $52.90 and a one year high of $141.53. The company has a market cap of $27.15 billion, a P/E ratio of 70.15, a P/E/G ratio of 3.11 and a beta of 1.63.

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

Trade Desk declared that its board has initiated 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 buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is 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.