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

Victory Capital Management Inc. raised its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 5.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,349,865 shares of the technology company’s stock after purchasing an additional 65,799 shares during the quarter. Victory Capital Management Inc. owned 0.27% of Trade Desk worth $158,650,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Ithaka Group LLC boosted its holdings in Trade Desk by 4.5% in 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 boosted its holdings in Trade Desk by 24.3% in the fourth quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock valued at $11,558,000 after purchasing an additional 19,204 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Trade Desk by 36.2% in 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 last quarter. Assetmark Inc. boosted its holdings in Trade Desk by 2,461.2% in the third quarter. Assetmark Inc. now owns 73,559 shares of the technology company’s stock valued at $8,066,000 after purchasing an additional 70,687 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in Trade Desk by 0.3% in the third quarter. Swiss National Bank now owns 1,321,400 shares of the technology company’s stock valued at $144,892,000 after purchasing an additional 4,500 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the transaction, the insider now directly owns 90,709 shares in the company, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jay R. Grant sold 18,524 shares of the business’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 owns 169,464 shares in the company, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock worth $5,004,296 in the last ninety days. 9.72% of the stock is owned by corporate insiders.

Trade Desk Price Performance

Shares of NASDAQ TTD opened at $66.54 on Thursday. The company has a 50 day simple moving average of $107.39 and a 200-day simple moving average of $114.00. The company has a market capitalization of $33.01 billion, a P/E ratio of 85.31, a P/E/G ratio of 3.11 and a beta of 1.45. The Trade Desk, Inc. has a 1 year low of $64.56 and a 1 year high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results 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 net margin of 16.08% and a return on equity of 16.38%. As a group, research analysts expect that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

TTD has been the topic of several recent research reports. Wedbush upped their price target on shares of Trade Desk from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Monday, January 6th. DA Davidson lowered their target price on shares of Trade Desk from $134.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Citigroup lowered their target price on shares of Trade Desk from $140.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Citizens Jmp raised shares of Trade Desk to a “strong-buy” rating in a research note on Tuesday, January 21st. Finally, Wells Fargo & Company lowered their target price on shares of Trade Desk from $142.00 to $101.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $119.45.

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.