Federated Hermes Inc. Has $69.27 Million Position in The Trade Desk, Inc. (NASDAQ:TTD)

Federated Hermes Inc. boosted its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 176.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 589,374 shares of the technology company’s stock after buying an additional 376,407 shares during the period. Federated Hermes Inc. owned approximately 0.12% of Trade Desk worth $69,269,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. MIG Capital LLC bought a new position in Trade Desk in the 4th quarter valued at about $312,000. Atika Capital Management LLC purchased a new stake in shares of Trade Desk in the fourth quarter worth approximately $6,029,000. Russell Investments Group Ltd. boosted its position in shares of Trade Desk by 83.1% during the fourth quarter. Russell Investments Group Ltd. now owns 499,602 shares of the technology company’s stock valued at $59,175,000 after buying an additional 226,773 shares during the last quarter. Wedbush Securities Inc. grew its holdings in Trade Desk by 4.3% during the fourth quarter. Wedbush Securities Inc. now owns 21,363 shares of the technology company’s stock worth $2,511,000 after buying an additional 873 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Trade Desk by 16.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 877,984 shares of the technology company’s stock valued at $103,189,000 after buying an additional 125,440 shares during the last quarter. 67.77% of the stock is owned by institutional investors.

Trade Desk Stock Down 5.8 %

Shares of NASDAQ TTD opened at $46.24 on Monday. The stock’s 50-day simple moving average is $78.11 and its two-hundred day simple moving average is $106.54. The Trade Desk, Inc. has a twelve month low of $44.27 and a twelve month high of $141.53. The firm has a market capitalization of $22.94 billion, a P/E ratio of 59.28, a P/E/G ratio of 3.11 and a beta of 1.56.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share 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, research 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 approved a share buyback program on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of the company’s 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 completion of the sale, the insider now 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were 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 of the company’s stock, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. UBS Group increased their target price on shares of Trade Desk from $116.00 to $148.00 and gave the company a “buy” rating in a report on Friday, February 14th. Loop Capital decreased their price objective on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Stifel Nicolaus cut 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. JMP Securities decreased their price target on 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, Oppenheimer cut their price objective on Trade Desk from $135.00 to $115.00 and set an “outperform” 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 given a strong buy rating to the company. According to MarketBeat.com, Trade Desk has an average rating of “Moderate Buy” and a consensus price target of $114.38.

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.