20,294 Shares in The Trade Desk, Inc. (NASDAQ:TTD) Acquired by OFI Invest Asset Management

OFI Invest Asset Management acquired a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD) during the 4th quarter, Holdings Channel reports. The fund acquired 20,294 shares of the technology company’s stock, valued at approximately $2,303,000.

Several other hedge funds and other institutional investors have also bought and sold shares of TTD. Farther Finance Advisors LLC boosted its stake in Trade Desk by 21.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,335 shares of the technology company’s stock worth $256,000 after acquiring an additional 417 shares during the last quarter. CWA Asset Management Group LLC bought a new position in Trade Desk during the 3rd quarter worth approximately $219,000. Assetmark Inc. lifted its stake in Trade Desk by 2,461.2% in the third quarter. Assetmark Inc. now owns 73,559 shares of the technology company’s stock valued at $8,066,000 after buying an additional 70,687 shares in the last quarter. Bridges Investment Management Inc. lifted its stake in Trade Desk by 4.0% in the third quarter. Bridges Investment Management Inc. now owns 7,474 shares of the technology company’s stock valued at $820,000 after buying an additional 288 shares in the last quarter. Finally, Atria Investments Inc lifted its stake in Trade Desk by 3.3% in the third quarter. Atria Investments Inc now owns 31,876 shares of the technology company’s stock valued at $3,495,000 after buying an additional 1,033 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Performance

Shares of Trade Desk stock opened at $64.91 on Monday. The firm has a 50-day moving average of $103.94 and a 200-day moving average of $113.21. The stock has a market cap of $32.20 billion, a PE ratio of 83.22, a PEG ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 52-week low of $63.82 and a 52-week high of $141.53.

Trade Desk (NASDAQ:TTD) last announced 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 net margin of 16.08% and a return on equity of 16.38%. Equities research analysts predict 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 stock buyback program on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to buy up to 0.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 price target (down previously from $140.00) on shares of Trade Desk in a research note on Thursday, February 13th. New Street Research raised shares of Trade Desk from a “sell” rating to a “neutral” rating and lifted their price target for the company from $85.00 to $115.00 in a research note on Monday, November 25th. Royal Bank of Canada lowered their price objective on shares of Trade Desk from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Benchmark upgraded shares of Trade Desk from a “sell” rating to a “hold” rating in a report on Friday. Finally, Susquehanna lowered their price objective on shares of Trade Desk from $150.00 to $135.00 and set a “positive” rating on the stock in a 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, Trade Desk has an average rating of “Moderate Buy” and an average target price of $119.45.

Insider Activity

In related news, insider Samantha Jacobson sold 4,298 shares of the company’s 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 completion of the sale, the insider now 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the sale, the insider now directly owns 169,464 shares of the company’s stock, valued at $20,225,528.40. This represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,029 shares of company stock valued at $5,004,296. 9.72% of the stock is owned by company insiders.

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.