Federated Hermes Inc. Grows Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Federated Hermes Inc. increased its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 176.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 589,374 shares of the technology company's stock after purchasing an additional 376,407 shares during the quarter. Federated Hermes Inc. owned approximately 0.12% of Trade Desk worth $69,269,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in TTD. Rialto Wealth Management LLC acquired a new position in shares of Trade Desk during the fourth quarter worth $26,000. Harbor Investment Advisory LLC raised its stake in Trade Desk by 68.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company's stock valued at $34,000 after buying an additional 117 shares during the last quarter. Synergy Asset Management LLC acquired a new stake in Trade Desk in the fourth quarter worth about $34,000. Midwest Capital Advisors LLC purchased a new stake in shares of Trade Desk during the fourth quarter worth about $34,000. Finally, Zions Bancorporation N.A. raised its position in shares of Trade Desk by 148.3% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock valued at $34,000 after purchasing an additional 175 shares during the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction on 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 directly owns 90,709 shares in the company, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.72% of the stock is owned by insiders.

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Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. 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. Cfra Research raised Trade Desk to a "moderate buy" rating in a report on Tuesday, March 25th. Morgan Stanley dropped their price objective on shares of Trade Desk from $145.00 to $132.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. Wolfe Research raised their target price on shares of Trade Desk from $140.00 to $155.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. Finally, Scotiabank lowered their price target on shares of Trade Desk from $133.00 to $83.00 and set a "sector perform" rating on the stock in a report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $111.79.

Trade Desk Stock Performance

Shares of TTD stock traded up $0.51 during trading hours on Friday, reaching $49.78. The company had a trading volume of 7,135,822 shares, compared to its average volume of 5,155,756. The Trade Desk, Inc. has a 12-month low of $42.96 and a 12-month high of $141.53. The company has a market capitalization of $24.70 billion, a price-to-earnings ratio of 63.82, a PEG ratio of 3.11 and a beta of 1.56. The stock has a fifty day moving average of $68.37 and a 200-day moving average of $103.64.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its 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%. On average, analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Trade Desk 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.