Nemes Rush Group LLC Boosts Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Nemes Rush Group LLC grew its stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 173.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,502 shares of the technology company's stock after buying an additional 5,391 shares during the period. Nemes Rush Group LLC's holdings in Trade Desk were worth $999,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Trade Desk by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company's stock worth $5,015,035,000 after acquiring an additional 253,137 shares during the period. Norges Bank bought a new position in Trade Desk in the 4th quarter worth approximately $524,187,000. 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. Bank of New York Mellon Corp lifted its position in Trade Desk by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,019,707 shares of the technology company's stock valued at $237,376,000 after purchasing an additional 5,080 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Trade Desk in the fourth quarter valued at approximately $231,570,000. Institutional investors own 67.77% of the company's stock.

Insider Activity

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the business's stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total value of $2,283,886.08. Following the transaction, the chief executive officer now directly owns 704,229 shares of the company's stock, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of the firm's stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the sale, the insider now directly 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 position. The disclosure for this sale can be found here. 9.72% of the stock is currently owned by insiders.

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Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Truist Financial lowered their price objective on shares of Trade Desk from $155.00 to $130.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Robert W. Baird reduced their target price on shares of Trade Desk from $160.00 to $145.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Needham & Company LLC reaffirmed a "buy" rating and set a $145.00 price target on shares of Trade Desk in a research report on Thursday, March 13th. JMP Securities decreased their price objective on shares of Trade Desk from $150.00 to $115.00 and set a "market outperform" rating for the company in a research report on Thursday, February 13th. Finally, KeyCorp decreased their target price on Trade Desk from $130.00 to $74.00 and set an "overweight" rating on the stock in a report on Tuesday, March 18th. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $114.38.

Trade Desk Price Performance

TTD stock traded down $0.80 during trading on Wednesday, reaching $56.30. 9,894,371 shares of the company were exchanged, compared to its average volume of 4,852,295. The company has a 50-day moving average of $80.98 and a two-hundred day moving average of $107.36. The company has a market capitalization of $27.93 billion, a price-to-earnings ratio of 72.18, a P/E/G ratio of 3.11 and a beta of 1.56. The Trade Desk, Inc. has a twelve month low of $52.22 and a twelve month 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 earnings per share 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%. On average, analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk announced that its board has approved a stock repurchase program on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board of directors 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.