Next Century Growth Investors LLC Makes New $1.65 Million Investment in The Trade Desk, Inc. (NASDAQ:TTD)

Next Century Growth Investors LLC bought a new stake in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 14,033 shares of the technology company's stock, valued at approximately $1,649,000.

A number of other large investors also recently added to or reduced their stakes in TTD. Rialto Wealth Management LLC purchased a new stake in shares of Trade Desk in the fourth quarter worth about $26,000. Harbor Investment Advisory LLC raised its holdings in shares of 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 in the last quarter. Synergy Asset Management LLC bought a new position in shares of Trade Desk during the 4th quarter valued at approximately $34,000. Midwest Capital Advisors LLC bought a new position in shares of Trade Desk during the 4th quarter valued at approximately $34,000. Finally, Zions Bancorporation N.A. grew its holdings in shares of Trade Desk by 148.3% in the fourth 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 in the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Trade Desk Price Performance

Trade Desk stock traded up $0.60 during midday trading on Tuesday, reaching $49.24. The company's stock had a trading volume of 9,734,187 shares, compared to its average volume of 5,216,409. The stock has a market capitalization of $24.43 billion, a P/E ratio of 63.13, a PEG ratio of 3.11 and a beta of 1.56. The stock's 50-day simple moving average is $65.74 and its 200-day simple moving average is $102.80. The Trade Desk, Inc. has a 52-week low of $42.96 and a 52-week high of $141.53.

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Trade Desk (NASDAQ:TTD - Get Free Report) last posted its quarterly earnings results 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 return on equity of 16.38% and a net margin of 16.08%. As a group, equities research analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its Board of Directors has approved a share repurchase program on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on TTD shares. Wedbush lifted their price target on Trade Desk from $135.00 to $145.00 and gave the stock an "outperform" rating in a research report on Monday, January 6th. Stifel Nicolaus cut their target price on Trade Desk from $144.00 to $122.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Needham & Company LLC restated a "buy" rating and issued a $84.00 price target on shares of Trade Desk in a research report on Monday. Robert W. Baird cut their price objective on shares of Trade Desk from $160.00 to $145.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Finally, Morgan Stanley lowered their target price on shares of Trade Desk from $145.00 to $132.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $109.69.

Insider Activity

In other news, insider Samantha Jacobson sold 4,298 shares of the company's stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the sale, the insider now owns 90,709 shares in the company, valued at $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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.