iA Global Asset Management Inc. Boosts Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

iA Global Asset Management Inc. grew its position in The Trade Desk, Inc. (NASDAQ:TTD) by 6.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 48,466 shares of the technology company’s stock after acquiring an additional 2,833 shares during the period. iA Global Asset Management Inc.’s holdings in Trade Desk were worth $5,696,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Rialto Wealth Management LLC purchased a new position in shares of Trade Desk during the 4th quarter worth approximately $26,000. Harbor Investment Advisory LLC raised 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 worth $34,000 after acquiring an additional 117 shares in the last quarter. Synergy Asset Management LLC purchased a new position in Trade Desk during the 4th quarter worth $34,000. Midwest Capital Advisors LLC purchased a new stake in shares of Trade Desk in the fourth quarter valued at about $34,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Trade Desk in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TTD. Oppenheimer lowered their target price on shares of Trade Desk from $135.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Macquarie increased their price objective on shares of Trade Desk from $133.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. DA Davidson lowered their price target on shares of Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, February 13th. BMO Capital Markets reduced their price objective on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Finally, Loop Capital reduced their price target on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Trade Desk currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.41.

Trade Desk Stock Up 1.0 %

NASDAQ:TTD opened at $55.85 on Friday. The Trade Desk, Inc. has a 12 month low of $53.39 and a 12 month high of $141.53. The firm has a market cap of $27.71 billion, a price-to-earnings ratio of 71.60, a P/E/G ratio of 3.11 and a beta of 1.63. The company’s 50 day moving average is $92.39 and its 200-day moving average is $110.12.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) 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%. Research analysts predict 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 stock buyback program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Trade Desk

In related news, 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 transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jay R. Grant sold 18,524 shares of the company’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 position. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock valued at $5,004,296 in the last 90 days. 9.72% of the stock is currently owned by company insiders.

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.