Fmr LLC Grows Stake in The Trade Desk, Inc. (NASDAQ:TTD)

FMR LLC boosted its position in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 44.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,788,285 shares of the technology company's stock after purchasing an additional 1,172,082 shares during the quarter. FMR LLC owned about 0.77% of Trade Desk worth $445,237,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Kovitz Investment Group Partners LLC raised its position in shares of Trade Desk by 31.9% in the third quarter. Kovitz Investment Group Partners LLC now owns 11,602 shares of the technology company's stock valued at $1,196,000 after buying an additional 2,806 shares in the last quarter. National Bank of Canada FI increased its position in shares of Trade Desk by 107.9% in the third quarter. National Bank of Canada FI now owns 93,699 shares of the technology company's stock worth $10,274,000 after purchasing an additional 48,630 shares during the period. Executive Wealth Management LLC lifted its holdings in shares of Trade Desk by 42.9% during the 3rd quarter. Executive Wealth Management LLC now owns 7,454 shares of the technology company's stock worth $817,000 after acquiring an additional 2,237 shares during the period. M&T Bank Corp increased its stake in shares of Trade Desk by 1.7% in the 3rd quarter. M&T Bank Corp now owns 30,958 shares of the technology company's stock valued at $3,395,000 after purchasing an additional 520 shares during the last quarter. Finally, Vestcor Inc raised its holdings in shares of Trade Desk by 11.4% during the 3rd quarter. Vestcor Inc now owns 8,715 shares of the technology company's stock worth $956,000 after buying an additional 894 shares in the last quarter. Institutional investors own 67.77% of the company's stock.

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Insider Buying and Selling at Trade Desk

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 value of $509,570.88. Following the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 9.72% of the company's stock.

Wall Street Analyst Weigh In

TTD has been the topic of several research analyst reports. Susquehanna reduced their price objective on Trade Desk from $150.00 to $135.00 and set a "positive" rating on the stock in a research note on Thursday, February 13th. Wedbush lifted their price target on shares of Trade Desk from $135.00 to $145.00 and gave the company an "outperform" rating in a report on Monday, January 6th. Loop Capital lowered their price objective on shares of Trade Desk from $145.00 to $101.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Cantor Fitzgerald cut their target price on shares of Trade Desk from $115.00 to $100.00 and set a "neutral" rating on the stock in a research report on Thursday, February 13th. Finally, Piper Sandler reiterated an "overweight" rating and set a $110.00 price target (down from $140.00) on shares of Trade Desk in a report on Thursday, February 13th. Six 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's stock. According to data from MarketBeat, Trade Desk currently has an average rating of "Moderate Buy" and an average target price of $111.79.

Trade Desk Stock Performance

Shares of Trade Desk stock traded up $0.51 during trading hours on Friday, reaching $49.78. The company's stock had a trading volume of 7,135,822 shares, compared to its average volume of 5,155,756. The company has a market capitalization of $24.70 billion, a P/E ratio of 63.82, a P/E/G ratio of 3.11 and a beta of 1.56. The stock's fifty day simple moving average is $68.37 and its two-hundred day simple moving average is $103.64. The Trade Desk, Inc. has a one year low of $42.96 and a one year high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing the consensus estimate 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, research analysts forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

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

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.