Platinum Investment Management Ltd. Makes New Investment in The Trade Desk, Inc. (NASDAQ:TTD)

Platinum Investment Management Ltd. bought a new position in The Trade Desk, Inc. (NASDAQ:TTD) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 3,745 shares of the technology company’s stock, valued at approximately $440,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Edgewood Management LLC grew its stake in shares of Trade Desk by 133.3% during the 3rd quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock valued at $1,089,280,000 after acquiring an additional 5,675,571 shares during the period. Jennison Associates LLC boosted its position in shares of Trade Desk by 11.0% during the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock valued at $2,228,172,000 after acquiring an additional 2,013,047 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Trade Desk during the 4th quarter valued at approximately $231,570,000. National Pension Service boosted its position in shares of Trade Desk by 104.1% during the 4th quarter. National Pension Service now owns 1,264,985 shares of the technology company’s stock valued at $148,674,000 after acquiring an additional 645,240 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in Trade Desk by 55.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company’s stock valued at $169,892,000 after buying an additional 551,925 shares during the period. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Insider Activity

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 704,229 shares in the company, valued at $88,338,485.76. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Samantha Jacobson sold 4,298 shares of the 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 sale, the insider now owns 90,709 shares in the company, valued at $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,029 shares of company stock valued at $5,004,296 over the last quarter. Company insiders own 9.72% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Wells Fargo & Company reduced their target price on Trade Desk from $142.00 to $101.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. BMO Capital Markets cut their price target on Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Oppenheimer cut their price target 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. Scotiabank cut their price target on Trade Desk from $133.00 to $83.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Finally, Stifel Nicolaus dropped their price objective on Trade Desk from $144.00 to $122.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $117.10.

Trade Desk Stock Down 5.2 %

NASDAQ:TTD opened at $53.59 on Wednesday. The stock’s 50 day moving average price is $95.03 and its 200 day moving average price is $110.89. 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 capitalization of $26.59 billion, a PE ratio of 68.71, a P/E/G ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last posted its quarterly 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%. As a group, sell-side analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

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

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.