Symmetry Investments LP Acquires New Position in The Trade Desk, Inc. (NASDAQ:TTD)

Symmetry Investments LP acquired a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 23,400 shares of the technology company's stock, valued at approximately $2,750,000.

Several other hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new position in shares of Trade Desk during the fourth quarter valued at approximately $524,187,000. Raymond James Financial Inc. acquired a new stake in shares of Trade Desk in the fourth quarter valued at $231,570,000. Franklin Resources Inc. boosted its stake in Trade Desk by 265.9% during the fourth quarter. Franklin Resources Inc. now owns 1,864,386 shares of the technology company's stock valued at $219,121,000 after buying an additional 1,354,891 shares in the last quarter. FMR LLC grew its holdings in Trade Desk by 44.8% during the fourth quarter. FMR LLC now owns 3,788,285 shares of the technology company's stock worth $445,237,000 after acquiring an additional 1,172,082 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Trade Desk in the 4th quarter valued at about $100,658,000. Institutional investors own 67.77% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Cfra Research raised Trade Desk to a "moderate buy" rating in a research report on Tuesday, March 25th. BMO Capital Markets cut their price target on shares of Trade Desk from $160.00 to $115.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Benchmark upgraded shares of Trade Desk from a "sell" rating to a "hold" rating in a research report on Friday, March 7th. Stifel Nicolaus lowered their target price on Trade Desk from $144.00 to $122.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Finally, Wells Fargo & Company dropped their price target on shares of Trade Desk from $101.00 to $72.00 and set an "overweight" rating on the stock in a research note on Monday, March 31st. Seven research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $104.10.

Trade Desk Stock Performance

Shares of TTD opened at $48.66 on Wednesday. The firm has a market capitalization of $24.14 billion, a PE ratio of 62.38, a P/E/G ratio of 3.11 and a beta of 1.56. The stock has a 50 day simple moving average of $59.36 and a 200 day simple moving average of $100.67. The Trade Desk, Inc. has a 52-week low of $42.96 and a 52-week high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued 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 return on equity of 16.38% and a net margin of 16.08%. Equities research analysts predict that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its board has initiated a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Samantha Jacobson sold 4,298 shares of the firm's stock in a transaction 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 transaction, the insider now owns 90,709 shares of the company's stock, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.72% of the stock is owned by corporate insiders.

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.

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