The Trade Desk, Inc. (NASDAQ:TTD) Shares Purchased by Trexquant Investment LP

Trexquant Investment LP grew its stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 71.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 155,960 shares of the technology company's stock after buying an additional 64,801 shares during the period. Trexquant Investment LP's holdings in Trade Desk were worth $18,330,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TTD. Lyell Wealth Management LP increased its holdings in Trade Desk by 24.3% in the 4th quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company's stock worth $11,558,000 after buying an additional 19,204 shares during the period. Nordea Investment Management AB lifted its position in Trade Desk by 36.2% during the fourth quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company's stock valued at $159,132,000 after purchasing an additional 358,350 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Trade Desk by 276.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company's stock valued at $8,255,000 after purchasing an additional 51,603 shares during the last quarter. Independent Solutions Wealth Management LLC boosted its holdings in Trade Desk by 21.0% in the third quarter. Independent Solutions Wealth Management LLC now owns 64,358 shares of the technology company's stock valued at $7,057,000 after purchasing an additional 11,181 shares during the last quarter. Finally, Moody National Bank Trust Division acquired a new stake in Trade Desk during the 4th quarter worth about $985,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the 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 sale, the chief executive officer now directly owns 704,229 shares in the company, valued at $88,338,485.76. This represents a 2.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Samantha Jacobson sold 4,298 shares of the business's stock in a transaction 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 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 position. The disclosure for this sale can be found here. 9.72% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TTD has been the topic of a number of recent research reports. Oppenheimer lowered their target price on Trade Desk from $135.00 to $115.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. KeyCorp lowered their price objective on Trade Desk from $130.00 to $74.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 18th. Cfra Research raised shares of Trade Desk to a "moderate buy" rating in a report on Tuesday, March 25th. Wedbush increased their price target on shares of Trade Desk from $135.00 to $145.00 and gave the stock an "outperform" rating in a report on Monday, January 6th. Finally, Piper Sandler restated an "overweight" rating and set a $110.00 price target (down previously from $140.00) on shares of Trade Desk in a research report on Thursday, February 13th. Six 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 data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $114.38.

Trade Desk Stock Performance

Shares of NASDAQ TTD traded down $7.22 during midday trading on Thursday, reaching $49.08. 15,207,992 shares of the stock were exchanged, compared to its average volume of 4,893,531. The stock has a market capitalization of $24.35 billion, a P/E ratio of 62.92, a PEG ratio of 3.11 and a beta of 1.56. The company has a 50 day simple moving average of $79.58 and a 200 day simple moving average of $106.96. The Trade Desk, Inc. has a twelve month low of $48.88 and a twelve month 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 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%. On average, research analysts expect 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 plan on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management 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.