Fjarde AP Fonden Fourth Swedish National Pension Fund Has $11.71 Million Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 0.8% during the fourth quarter, Holdings Channel reports. The fund owned 99,672 shares of the technology company’s stock after purchasing an additional 800 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Trade Desk were worth $11,714,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbor Investment Advisory LLC raised its stake in shares of Trade Desk by 68.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after acquiring an additional 117 shares during the last quarter. Synergy Asset Management LLC acquired a new stake in shares of Trade Desk in the fourth quarter valued at approximately $34,000. Exchange Traded Concepts LLC acquired a new stake in shares of Trade Desk in the fourth quarter valued at approximately $35,000. Kestra Investment Management LLC bought a new position in Trade Desk in the 4th quarter worth approximately $39,000. Finally, Avior Wealth Management LLC lifted its holdings in Trade Desk by 37.7% during the 3rd quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock worth $40,000 after buying an additional 100 shares in the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Stock Down 4.8 %

Trade Desk stock opened at $72.06 on Monday. The company has a 50 day moving average of $115.27 and a 200-day moving average of $115.30. The Trade Desk, Inc. has a twelve month low of $71.61 and a twelve month high of $141.53. The stock has a market capitalization of $35.57 billion, a PE ratio of 92.38, a price-to-earnings-growth ratio of 3.11 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last announced 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%. Equities analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its Board of Directors has authorized a share buyback program on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Trade Desk

In related news, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $119.35, for a total value of $2,210,839.40. Following the completion of the transaction, the insider now owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 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. This represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,029 shares of company stock valued at $5,004,296 over the last three months. Company insiders own 9.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on TTD. Royal Bank of Canada lowered their target price on Trade Desk from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Wedbush lifted their price objective on Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Piper Sandler restated an “overweight” rating and set a $110.00 target price (down from $140.00) on shares of Trade Desk in a research report on Thursday, February 13th. Wells Fargo & Company lowered their price target on shares of Trade Desk from $142.00 to $101.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Finally, BMO Capital Markets dropped their price target on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently 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.