KLP Kapitalforvaltning AS Takes Position in The Trade Desk, Inc. (NASDAQ:TTD)

KLP Kapitalforvaltning AS bought a new position in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 151,900 shares of the technology company's stock, valued at approximately $17,853,000.

Several other hedge funds have also made changes to their positions in the company. Sei Investments Co. lifted its position in shares of Trade Desk by 5.6% in the fourth quarter. Sei Investments Co. now owns 347,726 shares of the technology company's stock worth $40,870,000 after purchasing an additional 18,362 shares in the last quarter. Vestor Capital LLC acquired a new stake in shares of Trade Desk during the 4th quarter valued at $4,894,000. Virtu Financial LLC purchased a new position in shares of Trade Desk during the 4th quarter valued at $7,630,000. Quantbot Technologies LP bought a new position in Trade Desk during the fourth quarter valued at about $8,770,000. Finally, TD Private Client Wealth LLC lifted its position in shares of Trade Desk by 1,073.8% in the fourth quarter. TD Private Client Wealth LLC now owns 2,465 shares of the technology company's stock worth $290,000 after buying an additional 2,255 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company's stock.

Trade Desk Stock Performance

NASDAQ TTD traded down $1.41 on Friday, hitting $55.85. 6,423,398 shares of the stock traded hands, compared to its average volume of 4,776,836. The business's fifty day moving average is $85.01 and its two-hundred day moving average is $108.31. The Trade Desk, Inc. has a 12 month low of $53.39 and a 12 month high of $141.53. The firm has a market capitalization of $27.71 billion, a price-to-earnings ratio of 71.60, a PEG ratio of 3.11 and a beta of 1.63.

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Trade Desk (NASDAQ:TTD - Get Free Report) last announced its quarterly 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 return on equity of 16.38% and a net margin of 16.08%. Analysts expect that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its board has approved a share buyback plan on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. StockNews.com lowered Trade Desk from a "buy" rating to a "hold" rating in a report on Saturday, November 30th. KeyCorp lowered their target price on shares of Trade Desk from $130.00 to $74.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 18th. Wedbush boosted their target price on shares of Trade Desk from $135.00 to $145.00 and gave the stock an "outperform" rating in a research report on Monday, January 6th. BMO Capital Markets dropped their price objective on Trade Desk from $160.00 to $115.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Finally, Loop Capital cut their price objective on Trade Desk from $145.00 to $101.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $116.41.

Insider Buying and Selling

In other news, 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 transaction of $2,283,886.08. Following the completion of the transaction, the chief executive officer now directly owns 704,229 shares in the company, valued at approximately $88,338,485.76. This represents a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jay R. Grant sold 18,524 shares of the firm'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 completion of the sale, the insider now directly owns 169,464 shares of the company's stock, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,029 shares of company stock worth $5,004,296 in the last three months. 9.72% of the stock is owned by corporate insiders.

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.