Lord Abbett & CO. LLC Acquires 218,215 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Lord Abbett & CO. LLC boosted its stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 18.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,381,638 shares of the technology company's stock after purchasing an additional 218,215 shares during the quarter. Lord Abbett & CO. LLC owned about 0.28% of Trade Desk worth $162,384,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kovitz Investment Group Partners LLC raised its stake in shares of Trade Desk by 17.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 13,628 shares of the technology company's stock valued at $1,602,000 after acquiring an additional 2,026 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in shares of Trade Desk by 12.9% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 45,617 shares of the technology company's stock worth $5,394,000 after buying an additional 5,203 shares during the last quarter. Symmetry Investments LP bought a new stake in shares of Trade Desk in the 4th quarter worth about $2,750,000. MGO One Seven LLC lifted its holdings in Trade Desk by 5.0% during the 4th quarter. MGO One Seven LLC now owns 10,804 shares of the technology company's stock worth $1,270,000 after buying an additional 511 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Trade Desk by 3.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,375,266 shares of the technology company's stock worth $396,696,000 after purchasing an additional 99,634 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company's stock.

Trade Desk Price Performance

Shares of Trade Desk stock traded up $0.70 during midday trading on Friday, hitting $53.97. 6,287,369 shares of the company were exchanged, compared to its average volume of 5,369,239. The firm has a 50 day simple moving average of $57.70 and a 200-day simple moving average of $99.39. The Trade Desk, Inc. has a 52 week low of $42.96 and a 52 week high of $141.53. The firm has a market cap of $26.77 billion, a P/E ratio of 69.19, a PEG ratio of 3.11 and a beta of 1.56.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its quarterly earnings data 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%. Equities research analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Insider Transactions at Trade Desk

In related news, insider Samantha Jacobson sold 4,298 shares of the firm's stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the sale, the insider now owns 90,709 shares of the company's stock, 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 document filed with the SEC, which is available at the SEC website. Company insiders own 9.72% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Citigroup dropped their price target on Trade Desk from $70.00 to $63.00 and set a "buy" rating on the stock in a research report on Friday. Wedbush raised their target price on Trade Desk from $135.00 to $145.00 and gave the company an "outperform" rating in a research note on Monday, January 6th. Cfra Research upgraded shares of Trade Desk to a "moderate buy" rating in a research report on Tuesday, March 25th. Evercore ISI lowered shares of Trade Desk from an "outperform" rating to an "inline" rating and reduced their target price for the company from $135.00 to $90.00 in a research note on Thursday, February 13th. Finally, Benchmark upgraded shares of Trade Desk from a "sell" rating to a "hold" rating in a research note on Friday, March 7th. 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 company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $101.34.

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.