Invesco Ltd. Grows Position in The Trade Desk, Inc. (NASDAQ:TTD)

Invesco Ltd. raised its holdings in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,916,932 shares of the technology company's stock after purchasing an additional 198,822 shares during the period. Invesco Ltd. owned approximately 1.60% of Trade Desk worth $930,477,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Stifel Financial Corp raised its stake in Trade Desk by 4.2% in the third quarter. Stifel Financial Corp now owns 346,482 shares of the technology company's stock valued at $37,992,000 after purchasing an additional 13,936 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Trade Desk by 55.3% in the 3rd quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company's stock valued at $169,892,000 after acquiring an additional 551,925 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in shares of Trade Desk by 31.9% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 11,602 shares of the technology company's stock valued at $1,196,000 after acquiring an additional 2,806 shares in the last quarter. iA Global Asset Management Inc. grew its position in Trade Desk by 4.3% during the 3rd quarter. iA Global Asset Management Inc. now owns 45,633 shares of the technology company's stock worth $5,004,000 after acquiring an additional 1,898 shares during the last quarter. Finally, Glen Eagle Advisors LLC increased its holdings in Trade Desk by 65.6% in the 3rd quarter. Glen Eagle Advisors LLC now owns 631 shares of the technology company's stock worth $69,000 after purchasing an additional 250 shares in the last quarter. 67.77% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TTD shares. Citizens Jmp upgraded Trade Desk to a "strong-buy" rating in a report on Tuesday, January 21st. Morgan Stanley decreased their price target on Trade Desk from $145.00 to $132.00 and set an "overweight" rating for the company in a report 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 on the stock in a research note on Thursday, February 13th. 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 report on Thursday, February 13th. Finally, Robert W. Baird dropped their target price on Trade Desk from $160.00 to $145.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $111.79.

Insiders Place Their Bets

In other news, insider Samantha Jacobson sold 4,298 shares of the firm's 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 $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 9.72% of the company's stock.

Trade Desk Price Performance

TTD stock traded up $0.51 during trading 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 52 week low of $42.96 and a 52 week high of $141.53. The business has a 50 day moving average of $68.37 and a 200 day moving average of $103.64. The company has a market cap of $24.70 billion, a P/E ratio of 63.82, a PEG ratio of 3.11 and a beta of 1.56.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued 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 return on equity of 16.38% and a net margin of 16.08%. Research analysts expect 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 stock repurchase program on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board 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.