Harvest Fund Management Co. Ltd Acquires 8,721 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Harvest Fund Management Co. Ltd raised its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 26.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,317 shares of the technology company's stock after purchasing an additional 8,721 shares during the period. Harvest Fund Management Co. Ltd's holdings in Trade Desk were worth $4,834,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Edgewood Management LLC lifted its holdings in Trade Desk by 133.3% in the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company's stock valued at $1,089,280,000 after buying an additional 5,675,571 shares during the period. Jennison Associates LLC lifted its stake in shares of Trade Desk by 11.0% in the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company's stock valued at $2,228,172,000 after purchasing an additional 2,013,047 shares during the period. Raymond James Financial Inc. bought a new position in shares of Trade Desk in the 4th quarter worth $231,570,000. National Pension Service grew its stake in shares of Trade Desk by 104.1% during the fourth quarter. National Pension Service now owns 1,264,985 shares of the technology company's stock worth $148,674,000 after purchasing an additional 645,240 shares during the period. Finally, Wellington Management Group LLP increased its holdings in Trade Desk by 55.3% in the third quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company's stock valued at $169,892,000 after purchasing an additional 551,925 shares during the last quarter. Institutional investors own 67.77% of the company's stock.

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Trade Desk Stock Performance

NASDAQ:TTD traded up $0.46 during mid-day trading on Friday, hitting $56.31. 9,032,586 shares of the stock were exchanged, compared to its average volume of 4,591,457. The firm's 50-day simple moving average is $91.14 and its 200 day simple moving average is $109.85. The stock has a market capitalization of $27.93 billion, a price-to-earnings ratio of 72.19, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a fifty-two week low of $53.39 and a fifty-two week high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its earnings results 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 predict that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its Board of Directors has authorized a share 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 reacquire up to 0.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TTD shares. Cantor Fitzgerald decreased their target price on Trade Desk from $115.00 to $100.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Loop Capital reduced their price objective on shares of Trade Desk from $145.00 to $101.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Stifel Nicolaus lowered their target price on shares of Trade Desk from $144.00 to $122.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Scotiabank reduced 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 report on Thursday, February 13th. Finally, Benchmark upgraded shares of Trade Desk from a "sell" rating to a "hold" rating in a research report on Friday, March 7th. Six analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $116.41.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction on Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the completion of the transaction, the insider now directly owns 169,464 shares of the company's stock, valued at $20,225,528.40. The trade was a 9.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the sale, the insider now directly owns 90,709 shares in the company, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 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.