Magnetar Financial LLC Invests $832,000 in The Trade Desk, Inc. (NASDAQ:TTD)

Magnetar Financial LLC purchased a new stake in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 7,077 shares of the technology company's stock, valued at approximately $832,000.

Other institutional investors have also recently made changes to their positions in the company. Rialto Wealth Management LLC bought a new stake in Trade Desk in the 4th quarter worth about $26,000. Harbor Investment Advisory LLC grew its stake in shares of Trade Desk by 68.8% in the fourth 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 period. Synergy Asset Management LLC purchased a new position in shares of Trade Desk during the fourth quarter valued at approximately $34,000. Midwest Capital Advisors LLC bought a new position in Trade Desk during the fourth quarter valued at approximately $34,000. Finally, Exchange Traded Concepts LLC bought a new position in Trade Desk during the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 67.77% of the company's stock.

Insider Transactions at Trade Desk

In other Trade Desk 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 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jay R. Grant sold 18,524 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the transaction, the insider now owns 169,464 shares in the company, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,029 shares of company stock worth $5,004,296. 9.72% of the stock is currently owned by company insiders.

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Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TTD. Robert W. Baird decreased their target price on shares of Trade Desk from $160.00 to $145.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Citigroup reduced their price objective on Trade Desk from $140.00 to $108.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Scotiabank dropped their target price on Trade Desk from $133.00 to $83.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 13th. DA Davidson reduced their price target on shares of Trade Desk from $134.00 to $103.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Finally, Susquehanna dropped their price objective on shares of Trade Desk from $150.00 to $135.00 and set a "positive" 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $116.41.

Trade Desk Stock Performance

NASDAQ TTD traded down $3.20 on Wednesday, hitting $58.80. 10,485,570 shares of the stock were exchanged, compared to its average volume of 4,666,558. The Trade Desk, Inc. has a 52-week low of $53.39 and a 52-week high of $141.53. The firm has a market capitalization of $29.17 billion, a P/E ratio of 75.38, a P/E/G ratio of 3.11 and a beta of 1.63. The stock has a fifty day moving average price of $88.88 and a two-hundred day moving average price of $109.33.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS 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%. Sell-side analysts expect 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 initiated a stock buyback plan on Wednesday, February 12th that allows the company to buyback $564.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 0.9% of its shares through open market purchases. Shares buyback plans are often a sign 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.