856,448 Shares in The Trade Desk, Inc. (NASDAQ:TTD) Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership acquired a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 856,448 shares of the technology company's stock, valued at approximately $100,658,000. Arrowstreet Capital Limited Partnership owned about 0.17% of Trade Desk at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Lyell Wealth Management LP grew its position in shares of Trade Desk by 24.3% during the 4th quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company's stock worth $11,558,000 after buying an additional 19,204 shares during the period. Nordea Investment Management AB raised its holdings in Trade Desk by 36.2% in the fourth quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company's stock worth $159,132,000 after purchasing an additional 358,350 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Trade Desk by 276.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company's stock valued at $8,255,000 after buying an additional 51,603 shares in the last quarter. Independent Solutions Wealth Management LLC lifted its holdings in Trade Desk by 21.0% during the third quarter. Independent Solutions Wealth Management LLC now owns 64,358 shares of the technology company's stock worth $7,057,000 after acquiring an additional 11,181 shares in the last quarter. Finally, Moody National Bank Trust Division acquired a new position in Trade Desk in the fourth quarter valued at about $985,000. Institutional investors and hedge funds own 67.77% of the company's stock.

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Analysts Set New Price Targets

TTD has been the topic of several recent analyst reports. Evercore ISI cut Trade Desk from an "outperform" rating to an "inline" rating and cut their price objective for the company from $135.00 to $90.00 in a report on Thursday, February 13th. Susquehanna cut their price target on shares of Trade Desk from $150.00 to $135.00 and set a "positive" rating on the stock in a research note on Thursday, February 13th. Benchmark raised shares of Trade Desk from a "sell" rating to a "hold" rating in a research report on Friday, March 7th. Jefferies Financial Group cut their price objective on shares of Trade Desk from $120.00 to $75.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, Needham & Company LLC reiterated a "buy" rating and set a $145.00 target price on shares of Trade Desk in a report on Thursday, March 13th. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $114.38.

Trade Desk Stock Down 12.8 %

Shares of Trade Desk stock traded down $7.22 on Thursday, hitting $49.08. The stock had a trading volume of 15,206,983 shares, compared to its average volume of 4,893,431. The stock has a market cap of $24.35 billion, a price-to-earnings ratio of 62.92, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56. The Trade Desk, Inc. has a twelve month low of $48.88 and a twelve month high of $141.53. The business's 50 day moving average is $80.98 and its two-hundred day moving average is $107.36.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued 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%. As a group, equities analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Jeffrey Terry Green sold 18,207 shares of the company's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the completion of the sale, the chief executive officer now owns 704,229 shares of the company's stock, valued at $88,338,485.76. This represents a 2.52 % 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 Samantha Jacobson sold 4,298 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the sale, the insider now owns 90,709 shares in the company, valued at $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.72% of the stock is owned by insiders.

Trade Desk Company 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.