Victory Capital Management Inc. Increases Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Victory Capital Management Inc. boosted its stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 5.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,349,865 shares of the technology company's stock after buying an additional 65,799 shares during the period. Victory Capital Management Inc. owned 0.27% of Trade Desk worth $158,650,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TTD. Ithaka Group LLC lifted its holdings in shares of Trade Desk by 4.5% during the third quarter. Ithaka Group LLC now owns 112,888 shares of the technology company's stock valued at $12,378,000 after purchasing an additional 4,836 shares during the last quarter. Lyell Wealth Management LP increased its position in shares of Trade Desk by 24.3% during the fourth quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company's stock valued at $11,558,000 after acquiring an additional 19,204 shares in the last quarter. Nordea Investment Management AB increased its position in shares of 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 acquiring an additional 358,350 shares in the last quarter. Assetmark Inc. increased its position in shares of Trade Desk by 2,461.2% during the third quarter. Assetmark Inc. now owns 73,559 shares of the technology company's stock valued at $8,066,000 after acquiring an additional 70,687 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of Trade Desk by 0.3% during the third quarter. Swiss National Bank now owns 1,321,400 shares of the technology company's stock valued at $144,892,000 after acquiring an additional 4,500 shares in the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

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Trade Desk Trading Down 0.1 %

Shares of TTD traded down $0.07 during trading hours on Friday, reaching $64.91. 11,469,784 shares of the stock traded hands, compared to its average volume of 8,075,771. The Trade Desk, Inc. has a 52-week low of $63.82 and a 52-week high of $141.53. The company's 50-day moving average price is $105.07 and its two-hundred day moving average price is $113.33. The company has a market cap of $32.20 billion, a P/E ratio of 83.22, a price-to-earnings-growth ratio of 3.11 and a beta of 1.45.

Trade Desk (NASDAQ:TTD - Get Free Report) last released 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 net margin of 16.08% and a return on equity of 16.38%. On average, research analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $564.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TTD. Morgan Stanley reduced their price target on shares of Trade Desk from $145.00 to $132.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. Wedbush raised their price target on shares of Trade Desk from $135.00 to $145.00 and gave the company an "outperform" rating in a research report on Monday, January 6th. Wells Fargo & Company reduced their price target on shares of Trade Desk from $142.00 to $101.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. JMP Securities reduced their price target 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, Susquehanna cut their target price on shares of Trade Desk from $150.00 to $135.00 and set a "positive" rating for the company in a research report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $119.45.

Insiders Place Their Bets

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the business's stock in a transaction on Monday, December 30th. The shares were sold at an average price of $119.35, for a total value of $2,210,839.40. Following the sale, the insider now owns 169,464 shares in the company, valued at $20,225,528.40. The trade was a 9.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the insider now owns 90,709 shares in the company, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,029 shares of company stock worth $5,004,296 in the last 90 days. 9.72% of the stock is currently owned by corporate insiders.

Trade Desk Company 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.