The Trade Desk, Inc. (NASDAQ:TTD) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System increased its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 128,704 shares of the technology company’s stock after buying an additional 1,153 shares during the quarter. Arizona State Retirement System’s holdings in Trade Desk were worth $15,127,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Harbor Investment Advisory LLC grew its stake in Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after purchasing an additional 117 shares in the last quarter. Midwest Capital Advisors LLC acquired a new stake in Trade Desk during the 4th quarter valued at approximately $34,000. Exchange Traded Concepts LLC acquired a new stake in Trade Desk during the 4th quarter valued at approximately $35,000. Synergy Asset Management LLC acquired a new stake in Trade Desk during the 4th quarter valued at approximately $34,000. Finally, Kestra Investment Management LLC acquired a new stake in Trade Desk during the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Citigroup lowered their price objective on Trade Desk from $140.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. StockNews.com lowered Trade Desk from a “buy” rating to a “hold” rating in a research report on Saturday, November 30th. Wedbush lifted their target price on Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Scotiabank decreased their target price on Trade Desk from $133.00 to $83.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. Finally, New Street Research upgraded Trade Desk from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $85.00 to $115.00 in a research report on Monday, November 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Trade Desk has a consensus rating of “Moderate Buy” and an average target price of $119.45.

Insider Activity

In other news, 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 sale, the insider now directly owns 90,709 shares of the company’s stock, valued at $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total value of $2,283,886.08. Following the sale, the chief executive officer now directly owns 704,229 shares in the company, valued at $88,338,485.76. This trade represents a 2.52 % 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 worth $5,004,296 over the last 90 days. 9.72% of the stock is currently owned by company insiders.

Trade Desk Stock Down 1.6 %

Shares of Trade Desk stock opened at $66.54 on Thursday. The firm has a market cap of $33.01 billion, a price-to-earnings ratio of 85.31, a price-to-earnings-growth ratio of 3.11 and a beta of 1.45. The business has a fifty day simple moving average of $107.39 and a 200-day simple moving average of $114.00. The Trade Desk, Inc. has a fifty-two week low of $64.56 and a fifty-two week high of $141.53.

Trade Desk (NASDAQ:TTD) last announced 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 net margin of 16.08% and a return on equity of 16.38%. Analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its board has authorized 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 purchase up to 0.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

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.