AGF Management Ltd. Invests $419,000 in The Trade Desk, Inc. (NASDAQ:TTD)

AGF Management Ltd. bought a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 3,569 shares of the technology company’s stock, valued at approximately $419,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Edgewood Management LLC boosted its stake in Trade Desk by 133.3% in the 3rd quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock valued at $1,089,280,000 after purchasing an additional 5,675,571 shares during the period. Jennison Associates LLC raised its holdings in Trade Desk by 11.0% in the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock valued at $2,228,172,000 after acquiring an additional 2,013,047 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Trade Desk in the 4th quarter valued at $231,570,000. National Pension Service raised its holdings in Trade Desk by 104.1% in the 4th quarter. National Pension Service now owns 1,264,985 shares of the technology company’s stock valued at $148,674,000 after acquiring an additional 645,240 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Trade Desk by 55.3% in the 3rd quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company’s stock valued at $169,892,000 after acquiring an additional 551,925 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Trade Desk

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s 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 transaction, the chief executive officer now owns 704,229 shares in the company, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 90,709 shares in the company, valued at $10,754,459.04. This represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,029 shares of company stock valued at $5,004,296. Company insiders own 9.72% of the company’s stock.

Trade Desk Price Performance

NASDAQ TTD opened at $53.94 on Friday. The business has a 50 day simple moving average of $97.79 and a 200 day simple moving average of $111.51. The Trade Desk, Inc. has a one year low of $53.42 and a one year high of $141.53. The stock has a market capitalization of $26.76 billion, a P/E ratio of 69.15, a P/E/G ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data 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 net margin of 16.08% and a return on equity of 16.38%. Equities analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk declared that its board has authorized a share buyback plan on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have weighed in on TTD. Royal Bank of Canada dropped their price objective on Trade Desk from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Cantor Fitzgerald dropped their price objective on Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. JMP Securities lowered their price target on Trade Desk from $150.00 to $115.00 and set a “market outperform” rating for the company in a report on Thursday, February 13th. Citizens Jmp raised Trade Desk to a “strong-buy” rating in a report on Tuesday, January 21st. Finally, Robert W. Baird lowered their price target on Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.