Rhumbline Advisers Boosts Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Rhumbline Advisers increased its position in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 619,815 shares of the technology company's stock after purchasing an additional 4,007 shares during the period. Rhumbline Advisers owned 0.13% of Trade Desk worth $72,847,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of TTD. Harbor Investment Advisory LLC lifted its stake in shares of Trade Desk by 68.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company's stock valued at $34,000 after purchasing an additional 117 shares during the last quarter. Synergy Asset Management LLC purchased a new stake in Trade Desk in the 4th quarter valued at about $34,000. Exchange Traded Concepts LLC acquired a new position in Trade Desk in the fourth quarter valued at about $35,000. Avior Wealth Management LLC boosted its stake in Trade Desk by 37.7% during the third quarter. Avior Wealth Management LLC now owns 365 shares of the technology company's stock worth $40,000 after buying an additional 100 shares during the period. Finally, Brown Lisle Cummings Inc. increased its position in shares of Trade Desk by 66.7% during the third quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company's stock valued at $41,000 after acquiring an additional 150 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TTD. StockNews.com lowered shares of Trade Desk from a "buy" rating to a "hold" rating in a report on Saturday, November 30th. BTIG Research upped their price target on Trade Desk from $114.00 to $142.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Scotiabank dropped their price objective on Trade Desk from $133.00 to $83.00 and set a "sector perform" rating for the company in a research note on Thursday, February 13th. Cantor Fitzgerald cut their price objective on Trade Desk from $115.00 to $100.00 and set a "neutral" rating on the stock in a report on Thursday, February 13th. Finally, Royal Bank of Canada lowered their target price on Trade Desk from $140.00 to $120.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Trade Desk currently has an average rating of "Moderate Buy" and a consensus target price of $119.45.

Insiders Place Their Bets

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the transaction, the chief executive officer now directly owns 704,229 shares in the company, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction on Monday, December 30th. The shares were sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the completion of the transaction, the insider now directly owns 169,464 shares in the company, valued at $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 90 days, insiders have sold 41,029 shares of company stock valued at $5,004,296. 9.72% of the stock is currently owned by insiders.

Trade Desk Stock Down 1.3 %

Trade Desk stock traded down $1.02 during mid-day trading on Thursday, hitting $75.73. The company had a trading volume of 13,551,253 shares, compared to its average volume of 7,076,068. The Trade Desk, Inc. has a 1 year low of $74.10 and a 1 year high of $141.53. The business has a fifty day moving average of $117.64 and a 200 day moving average of $115.23. The stock has a market cap of $37.38 billion, a price-to-earnings ratio of 97.09, a PEG ratio of 3.28 and a beta of 1.45.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its earnings results 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%. Equities analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk declared that its board has initiated a share buyback program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 0.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership 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.