Teacher Retirement System of Texas Has $11.18 Million Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Teacher Retirement System of Texas grew its stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 3,091.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 95,146 shares of the technology company's stock after acquiring an additional 92,165 shares during the period. Teacher Retirement System of Texas' holdings in Trade Desk were worth $11,183,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of TTD. Edgewood Management LLC lifted its holdings in Trade Desk by 133.3% during the 3rd quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company's stock worth $1,089,280,000 after buying an additional 5,675,571 shares in the last quarter. FMR LLC lifted its stake in shares of Trade Desk by 1.3% during the third quarter. FMR LLC now owns 2,616,203 shares of the technology company's stock valued at $286,867,000 after acquiring an additional 32,999 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Trade Desk by 3.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,109,380 shares of the technology company's stock valued at $231,294,000 after acquiring an additional 68,206 shares during the last quarter. Bank of New York Mellon Corp increased its position in Trade Desk by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,019,707 shares of the technology company's stock worth $237,376,000 after purchasing an additional 5,080 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Trade Desk during the 4th quarter worth about $231,570,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

TTD has been the topic of several recent research reports. KeyCorp reduced their target price on shares of Trade Desk from $130.00 to $74.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 18th. Royal Bank of Canada lowered their target price on shares of Trade Desk from $120.00 to $100.00 and set an "outperform" rating for the company in a report on Monday, March 17th. Wedbush increased 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. Wells Fargo & Company reduced their target price on Trade Desk from $142.00 to $101.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $110.00 price target (down from $140.00) on shares of Trade Desk in a research note on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $116.41.

Trade Desk Stock Performance

TTD traded down $3.20 on Wednesday, hitting $58.80. 10,485,570 shares of the company were exchanged, compared to its average volume of 4,666,558. The stock's fifty day moving average is $88.88 and its 200-day moving average is $109.33. The company has a market cap of $29.17 billion, a PE ratio of 75.38, a PEG ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 12 month low of $53.39 and a 12 month high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings data 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%. As a group, equities research analysts expect that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its Board of Directors has approved a share buyback 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 reacquire up to 0.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its shares are undervalued.

Insider Activity

In other news, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the completion of the transaction, the chief executive officer now directly owns 704,229 shares in the company, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Samantha Jacobson sold 4,298 shares of the 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 sale, the insider now owns 90,709 shares in the company, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,029 shares of company stock valued at $5,004,296 in the last quarter. Company insiders own 9.72% of the company's stock.

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.