Allianz SE Acquires New Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Allianz SE acquired a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD) in the 4th quarter, Holdings Channel reports. The fund acquired 2,210 shares of the technology company’s stock, valued at approximately $266,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TTD. Rialto Wealth Management LLC bought a new position in shares of Trade Desk in the fourth quarter worth $26,000. Harbor Investment Advisory LLC raised its holdings in Trade Desk by 68.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after buying an additional 117 shares during the last quarter. Synergy Asset Management LLC acquired a new position in shares of Trade Desk during the fourth quarter worth $34,000. Midwest Capital Advisors LLC bought a new position in shares of Trade Desk during the fourth quarter worth about $34,000. Finally, Zions Bancorporation N.A. lifted its position in shares of Trade Desk by 148.3% in 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 during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Stock Down 2.5 %

Shares of NASDAQ TTD opened at $55.85 on Monday. The stock has a market capitalization of $27.71 billion, a P/E ratio of 71.60, a P/E/G ratio of 3.11 and a beta of 1.63. The firm’s 50-day moving average price is $85.01 and its two-hundred day moving average price is $108.42. The Trade Desk, Inc. has a 52-week low of $53.39 and a 52-week high of $141.53.

Trade Desk (NASDAQ:TTD) last released its 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, equities research analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its Board of Directors has approved a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the completion of the sale, the chief executive officer now directly owns 704,229 shares in the company, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Stifel Nicolaus reduced their price target on shares of Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Wedbush raised their price target on shares of Trade Desk from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Benchmark raised shares of Trade Desk from a “sell” rating to a “hold” rating in a report on Friday, March 7th. Wolfe Research increased their price target on Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Cantor Fitzgerald reduced their price target on Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.41.

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.