Vanguard Group Inc. Buys 253,137 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Vanguard Group Inc. raised its stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,670,254 shares of the technology company's stock after purchasing an additional 253,137 shares during the quarter. Vanguard Group Inc. owned 8.65% of Trade Desk worth $5,015,035,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Lyell Wealth Management LP raised its position 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 valued at $11,558,000 after buying an additional 19,204 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Trade Desk by 36.2% in the 4th quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company's stock worth $159,132,000 after acquiring an additional 358,350 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of 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 purchasing an additional 68,206 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Trade Desk by 276.9% during 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 in the last quarter. Finally, Independent Solutions Wealth Management LLC boosted its holdings in Trade Desk by 21.0% during the third quarter. Independent Solutions Wealth Management LLC now owns 64,358 shares of the technology company's stock worth $7,057,000 after purchasing an additional 11,181 shares during the last quarter. Institutional investors own 67.77% of the company's stock.

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Trade Desk Stock Performance

Trade Desk stock traded down $1.41 during midday trading on Friday, hitting $55.85. 6,423,398 shares of the company's stock were exchanged, compared to its average volume of 4,776,838. The stock has a 50-day moving average price of $85.01 and a two-hundred day moving average price of $108.31. The Trade Desk, Inc. has a 52-week low of $53.39 and a 52-week high of $141.53. The company has a market cap of $27.71 billion, a P/E ratio of 71.60, a PEG ratio of 3.11 and a beta of 1.63.

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 the consensus estimate of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. As a group, sell-side analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its board has authorized a stock repurchase program on Wednesday, February 12th that allows the company to repurchase $564.00 million in shares. This repurchase authorization allows the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

Insider Transactions at Trade Desk

In related news, insider Jay R. Grant sold 18,524 shares of the firm's stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the transaction, the insider now directly owns 169,464 shares of the company's stock, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Samantha Jacobson sold 4,298 shares of the company'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 value of $509,570.88. Following the completion of the sale, the insider now directly owns 90,709 shares of the company's stock, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock valued at $5,004,296 in the last quarter. Insiders own 9.72% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on TTD. 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 note on Thursday, February 13th. Loop Capital decreased their price target on Trade Desk from $145.00 to $101.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Cantor Fitzgerald cut their price objective on Trade Desk from $115.00 to $100.00 and set a "neutral" rating on the stock in a research report on Thursday, February 13th. 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, Truist Financial reduced their price target 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. Six analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $116.41.

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.