Allianz SE Takes Position in The Trade Desk, Inc. (NASDAQ:TTD)

Allianz SE bought a new stake in The Trade Desk, Inc. (NASDAQ:TTD) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,210 shares of the technology company’s stock, valued at approximately $266,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Focus Financial Network Inc. boosted its stake in shares of Trade Desk by 2.2% during the 4th quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock worth $456,000 after acquiring an additional 84 shares in the last quarter. RMR Wealth Builders increased its holdings in Trade Desk by 0.8% in the fourth quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock worth $1,247,000 after buying an additional 89 shares during the last quarter. Quotient Wealth Partners LLC raised its holdings in shares of Trade Desk by 4.2% during the 4th quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock valued at $276,000 after purchasing an additional 94 shares in the last quarter. TFB Advisors LLC lifted its position in shares of Trade Desk by 2.6% in the fourth quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock worth $442,000 after buying an additional 94 shares during the last quarter. Finally, Centurion Wealth Management LLC grew its holdings in Trade Desk by 2.6% during the fourth quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company’s stock valued at $443,000 after purchasing an additional 96 shares during the last quarter. Institutional investors own 67.77% of the company’s stock.

Insider Buying and Selling at Trade Desk

In related news, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the sale, the insider now directly owns 90,709 shares in the company, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey Terry Green sold 18,207 shares of the firm’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 completion of the transaction, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at $88,338,485.76. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. 9.72% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TTD. Truist Financial reduced their price objective on Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Wedbush lifted their price objective on Trade Desk from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Monday, January 6th. Needham & Company LLC reiterated a “buy” rating and set a $145.00 target price on shares of Trade Desk in a research report on Thursday, March 13th. JMP Securities dropped their target price on shares of 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, Cantor Fitzgerald reduced their target price on Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a 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, the company has an average rating of “Moderate Buy” and an average price target of $116.41.

Trade Desk Stock Performance

Trade Desk stock opened at $55.85 on Monday. The company has a market cap of $27.71 billion, a P/E ratio of 71.60, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The business has a fifty day moving average of $85.01 and a two-hundred day moving average of $108.42. The Trade Desk, Inc. has a one year low of $53.39 and a one year high of $141.53.

Trade Desk (NASDAQ:TTD) last released 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%. Sell-side analysts predict that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is 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.