Arizona State Retirement System Has $15.13 Million Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Arizona State Retirement System boosted its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 128,704 shares of the technology company’s stock after buying an additional 1,153 shares during the period. Arizona State Retirement System’s holdings in Trade Desk were worth $15,127,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Harbor Investment Advisory LLC increased 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 during the last quarter. Synergy Asset Management LLC acquired a new position in Trade Desk in the 4th quarter worth about $34,000. Midwest Capital Advisors LLC acquired a new position in Trade Desk in the 4th quarter worth about $34,000. Exchange Traded Concepts LLC acquired a new position in Trade Desk in the 4th quarter worth about $35,000. Finally, Kestra Investment Management LLC acquired a new position in Trade Desk in the 4th quarter worth about $39,000. 67.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Trade Desk

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This represents a 2.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the firm’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 sale, the insider now directly owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,029 shares of company stock valued at $5,004,296. Corporate insiders own 9.72% of the company’s stock.

Wall Street Analysts Forecast Growth

TTD has been the topic of several research reports. Robert W. Baird dropped their target price on Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Truist Financial decreased their price target on Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Evercore ISI downgraded Trade Desk from an “outperform” rating to an “inline” rating and decreased their price target for the stock from $135.00 to $90.00 in a research note on Thursday, February 13th. Citizens Jmp upgraded Trade Desk to a “strong-buy” rating in a research note on Tuesday, January 21st. Finally, Citigroup decreased their price target on Trade Desk from $140.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. One 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 given 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.

Trade Desk Stock Down 1.6 %

Trade Desk stock opened at $66.54 on Thursday. The business has a 50 day moving average price of $107.39 and a two-hundred day moving average price of $114.00. The stock has a market cap of $33.01 billion, a price-to-earnings ratio of 85.31, a price-to-earnings-growth ratio of 3.11 and a beta of 1.45. The Trade Desk, Inc. has a 12 month low of $64.56 and a 12 month high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (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 announced that its board has authorized a share buyback plan on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Trade Desk Company 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.