Virtu Financial LLC Takes Position in The Trade Desk, Inc. (NASDAQ:TTD)

Virtu Financial LLC bought a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 64,920 shares of the technology company's stock, valued at approximately $7,630,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rialto Wealth Management LLC acquired a new stake in Trade Desk during the fourth quarter valued at $26,000. Harbor Investment Advisory LLC lifted its position in Trade Desk by 68.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company's stock worth $34,000 after buying an additional 117 shares in the last quarter. Synergy Asset Management LLC purchased a new stake in shares of Trade Desk in the fourth quarter valued at about $34,000. Midwest Capital Advisors LLC purchased a new stake in shares of Trade Desk during the 4th quarter valued at approximately $34,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Trade Desk in the 4th quarter valued at $35,000. 67.77% of the stock is owned by institutional investors.

Trade Desk Price Performance

Shares of NASDAQ:TTD traded down $3.20 during trading on Wednesday, reaching $58.80. The company had a trading volume of 10,488,053 shares, compared to its average volume of 4,666,597. The Trade Desk, Inc. has a fifty-two week low of $53.39 and a fifty-two week high of $141.53. The firm has a market capitalization of $29.17 billion, a price-to-earnings ratio of 75.38, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The stock's fifty day moving average price is $88.88 and its 200 day moving average price is $109.33.

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Trade Desk (NASDAQ:TTD - Get Free Report) last announced 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, equities analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in outstanding 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 usually a sign that the company's leadership believes its shares are undervalued.

Insider Activity

In related news, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction dated Tuesday, January 28th. The shares were 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 of the company's stock, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the transaction, the chief executive officer now 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 41,029 shares of company stock worth $5,004,296. Company insiders own 9.72% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on TTD. BMO Capital Markets cut their price objective on Trade Desk from $160.00 to $115.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Susquehanna reduced their price target on Trade Desk from $150.00 to $135.00 and set a "positive" rating on the stock in a research report on Thursday, February 13th. Oppenheimer lowered their price objective on Trade Desk from $135.00 to $115.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Royal Bank of Canada reduced their target price on shares of Trade Desk from $120.00 to $100.00 and set an "outperform" rating on the stock in a report on Monday, March 17th. Finally, Benchmark upgraded shares of Trade Desk from a "sell" rating to a "hold" rating in a report on Friday, March 7th. Six equities research 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $116.41.

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.