3,745 Shares in The Trade Desk, Inc. (NASDAQ:TTD) Bought by Platinum Investment Management Ltd.

Platinum Investment Management Ltd. acquired a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 3,745 shares of the technology company’s stock, valued at approximately $440,000.

Several other hedge funds have also recently bought and sold shares of TTD. Edgewood Management LLC increased its position in Trade Desk by 133.3% during the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock worth $1,089,280,000 after buying an additional 5,675,571 shares during the last quarter. Jennison Associates LLC increased its position in Trade Desk by 11.0% during the third quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after buying an additional 2,013,047 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Trade Desk during the fourth quarter worth $231,570,000. National Pension Service increased its position in Trade Desk by 104.1% during the fourth quarter. National Pension Service now owns 1,264,985 shares of the technology company’s stock worth $148,674,000 after buying an additional 645,240 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Trade Desk by 55.3% during the third quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company’s stock worth $169,892,000 after buying an additional 551,925 shares during the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Jay R. Grant sold 18,524 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was 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 represents a 9.85 % 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 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 $88,338,485.76. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,029 shares of company stock worth $5,004,296. 9.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TTD has been the topic of several research analyst reports. New Street Research raised Trade Desk from a “sell” rating to a “neutral” rating and raised their price target for the company from $85.00 to $115.00 in a research report on Monday, November 25th. Macquarie raised their price target on shares of Trade Desk from $133.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Morgan Stanley cut their price target on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Wolfe Research raised their price target on shares of Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Evercore ISI cut shares of Trade Desk from an “outperform” rating to an “inline” rating and cut their target price for the company from $135.00 to $90.00 in a research note on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Trade Desk presently has a consensus rating of “Moderate Buy” and an average target price of $117.10.

Trade Desk Price Performance

Shares of TTD stock opened at $53.59 on Wednesday. The stock has a market capitalization of $26.59 billion, a PE ratio of 68.71, a P/E/G ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 1-year low of $53.39 and a 1-year high of $141.53. The business has a 50-day moving average of $95.03 and a 200 day moving average of $110.89.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. Analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

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.