First Trust Advisors LP Acquires 13,422 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

First Trust Advisors LP boosted its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 606,877 shares of the technology company's stock after purchasing an additional 13,422 shares during the period. First Trust Advisors LP owned about 0.12% of Trade Desk worth $71,326,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC acquired a new position in Trade Desk in the fourth quarter valued at about $26,000. Harbor Investment Advisory LLC grew its position in Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company's stock worth $34,000 after acquiring an additional 117 shares during the last quarter. Midwest Capital Advisors LLC acquired a new stake in Trade Desk during the 4th quarter valued at $34,000. Zions Bancorporation N.A. raised its position in 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. Finally, Exchange Traded Concepts LLC acquired a new position in Trade Desk in the fourth quarter worth $35,000. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Stock Up 6.4 %

Shares of TTD stock traded up $3.19 on Thursday, reaching $53.27. The stock had a trading volume of 6,833,388 shares, compared to its average volume of 5,351,318. The Trade Desk, Inc. has a 12 month low of $42.96 and a 12 month high of $141.53. The firm has a market capitalization of $26.43 billion, a price-to-earnings ratio of 68.29, a P/E/G ratio of 3.11 and a beta of 1.56. The firm's 50-day moving average is $58.22 and its two-hundred day moving average is $99.92.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings data 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 net margin of 16.08% and a return on equity of 16.38%. On average, sell-side analysts forecast 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 approved 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 purchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TTD. Royal Bank of Canada reduced their price target on shares of Trade Desk from $120.00 to $100.00 and set an "outperform" rating on the stock in a research report on Monday, March 17th. Citizens Jmp raised shares of Trade Desk to a "strong-buy" rating in a report on Tuesday, January 21st. Evercore ISI downgraded Trade Desk from an "outperform" rating to an "inline" rating and reduced their price objective for the stock from $135.00 to $90.00 in a report on Thursday, February 13th. BMO Capital Markets lowered their target price on Trade Desk from $160.00 to $115.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Finally, Piper Sandler started coverage on Trade Desk in a research note on Thursday, April 17th. They set a "neutral" rating and a $55.00 price target on the stock. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $102.90.

Insiders Place Their Bets

In other news, insider Samantha Jacobson sold 4,298 shares of the business's stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 9.72% of the company's stock.

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.