Aigen Investment Management LP Makes New $783,000 Investment in The Trade Desk, Inc. (NASDAQ:TTD)

Aigen Investment Management LP purchased a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 6,663 shares of the technology company's stock, valued at approximately $783,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harbor Investment Advisory LLC grew its position in shares of Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company's stock valued at $34,000 after acquiring an additional 117 shares during the period. Synergy Asset Management LLC purchased a new position in Trade Desk in the fourth quarter valued at approximately $34,000. Midwest Capital Advisors LLC bought a new position in Trade Desk during the fourth quarter valued at $34,000. Exchange Traded Concepts LLC purchased a new stake in Trade Desk in the fourth quarter worth $35,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Trade Desk in the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 67.77% of the company's stock.

Trade Desk Trading Down 0.1 %

NASDAQ TTD traded down $0.07 on Friday, hitting $64.91. The company's stock had a trading volume of 11,469,784 shares, compared to its average volume of 8,075,771. The firm has a market cap of $32.20 billion, a P/E ratio of 83.22, a PEG ratio of 3.11 and a beta of 1.45. The Trade Desk, Inc. has a 52-week low of $63.82 and a 52-week high of $141.53. The company's 50-day simple moving average is $105.07 and its 200 day simple moving average is $113.33.

Remove Ads

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

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

Insiders Place Their Bets

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction on 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 transaction, the insider now owns 169,464 shares in the company, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of the company's 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 completion of the transaction, the insider now owns 90,709 shares in the company, valued at approximately $10,754,459.04. The trade was a 4.52 % 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 worth $5,004,296. 9.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on TTD shares. Citigroup cut their price target on Trade Desk from $140.00 to $108.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Scotiabank cut their target price on shares of Trade Desk from $133.00 to $83.00 and set a "sector perform" rating for the company in a research report on Thursday, February 13th. Royal Bank of Canada lowered their price target on shares of Trade Desk from $140.00 to $120.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Susquehanna cut their price objective on shares of Trade Desk from $150.00 to $135.00 and set a "positive" rating for the company in a report on Thursday, February 13th. Finally, DA Davidson reduced their price objective on shares of Trade Desk from $134.00 to $103.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock 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.