Price T Rowe Associates Inc. MD Has $396.70 Million Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Price T Rowe Associates Inc. MD grew its holdings in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 3.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,375,266 shares of the technology company's stock after acquiring an additional 99,634 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.68% of Trade Desk worth $396,696,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Lyell Wealth Management LP increased its position in Trade Desk by 24.3% during the fourth quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company's stock worth $11,558,000 after buying an additional 19,204 shares during the period. Nordea Investment Management AB increased its position in Trade Desk by 36.2% in the 4th quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company's stock valued at $159,132,000 after acquiring an additional 358,350 shares during the period. Assenagon Asset Management S.A. raised its stake in Trade Desk by 276.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company's stock valued at $8,255,000 after acquiring an additional 51,603 shares during the last quarter. Independent Solutions Wealth Management LLC grew its stake in shares of Trade Desk by 21.0% in the 3rd quarter. Independent Solutions Wealth Management LLC now owns 64,358 shares of the technology company's stock valued at $7,057,000 after purchasing an additional 11,181 shares during the last quarter. Finally, Moody National Bank Trust Division purchased a new stake in shares of Trade Desk during the fourth quarter worth approximately $985,000. Institutional investors and hedge funds own 67.77% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Scotiabank dropped their price target 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. Wedbush lifted their price target 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 Trade Desk to a "moderate buy" rating in a research report on Tuesday, March 25th. Benchmark raised shares of Trade Desk from a "sell" rating to a "hold" rating in a research note on Friday, March 7th. Finally, Evercore ISI downgraded shares of Trade Desk from an "outperform" rating to an "inline" rating and decreased their price objective for the stock from $135.00 to $90.00 in a report on Thursday, February 13th. 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. According to MarketBeat, Trade Desk presently has an average rating of "Moderate Buy" and an average price target of $101.34.

Insider Activity

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the 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 in the company, valued at $10,754,459.04. This represents a 4.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 9.72% of the company's stock.

Trade Desk Trading Up 1.3 %

TTD stock traded up $0.70 during trading hours on Friday, hitting $53.97. 6,287,369 shares of the stock traded hands, compared to its average volume of 5,369,239. The stock has a 50-day simple moving average of $57.70 and a 200 day simple moving average of $99.39. The company has a market cap of $26.77 billion, a P/E ratio of 69.19, a P/E/G ratio of 3.11 and a beta of 1.56. 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 posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. Analysts forecast 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 initiated 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 purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management 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.