Allstate Corp Invests $1.55 Million in The Trade Desk, Inc. (NASDAQ:TTD)

Allstate Corp bought a new stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,180 shares of the technology company's stock, valued at approximately $1,549,000.

Other institutional investors have also recently made changes to their positions in the company. Lyell Wealth Management LP grew its position in Trade Desk by 24.3% in the 4th quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company's stock valued at $11,558,000 after acquiring an additional 19,204 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of 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 last quarter. Assenagon Asset Management S.A. increased its stake in 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 worth $8,255,000 after buying an additional 51,603 shares during the period. Independent Solutions Wealth Management LLC lifted its holdings in Trade Desk by 21.0% during the 3rd quarter. Independent Solutions Wealth Management LLC now owns 64,358 shares of the technology company's stock valued at $7,057,000 after buying an additional 11,181 shares in the last quarter. Finally, Moody National Bank Trust Division bought a new position in Trade Desk in the 4th quarter worth about $985,000. Institutional investors own 67.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Oppenheimer lowered their price target on Trade Desk from $135.00 to $115.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Needham & Company LLC reissued a "buy" rating and set a $145.00 price objective on shares of Trade Desk in a report on Thursday, March 13th. Loop Capital lowered their target price on Trade Desk from $145.00 to $101.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Piper Sandler reiterated an "overweight" rating and issued a $110.00 price target (down from $140.00) on shares of Trade Desk in a report on Thursday, February 13th. Finally, Wedbush upped their price objective on Trade Desk from $135.00 to $145.00 and gave the stock an "outperform" rating in a research note on Monday, January 6th. Six equities research 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, Trade Desk presently has an average rating of "Moderate Buy" and an average target price of $115.41.

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Insider Transactions at Trade Desk

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the business'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. The trade was 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 at this link. Also, insider Samantha Jacobson sold 4,298 shares of the firm's stock in a transaction dated Tuesday, January 28th. The shares were 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 directly owns 90,709 shares in the company, valued at $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.72% of the company's stock.

Trade Desk Price Performance

NASDAQ:TTD traded up $2.38 during mid-day trading on Tuesday, hitting $57.10. The company's stock had a trading volume of 9,719,789 shares, compared to its average volume of 4,822,652. The business's fifty day moving average is $82.27 and its two-hundred day moving average is $107.72. The stock has a market cap of $28.33 billion, a price-to-earnings ratio of 73.21, a PEG ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 1 year low of $52.90 and a 1 year high of $141.53.

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

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