Nikko Asset Management Americas Inc. Increases Position in The Trade Desk, Inc. (NASDAQ:TTD)

Nikko Asset Management Americas Inc. raised its position in The Trade Desk, Inc. (NASDAQ:TTD) by 10.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 807,479 shares of the technology company’s stock after purchasing an additional 75,199 shares during the period. Trade Desk accounts for 1.0% of Nikko Asset Management Americas Inc.’s investment portfolio, making the stock its 29th largest holding. Nikko Asset Management Americas Inc.’s holdings in Trade Desk were worth $94,863,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. IMG Wealth Management Inc. purchased a new stake in shares of Trade Desk in the 4th quarter valued at approximately $97,000. GWN Securities Inc. acquired a new position in shares of Trade Desk in the 4th quarter valued at $469,000. Glenview Trust co boosted its holdings in shares of Trade Desk by 13.4% in the 4th quarter. Glenview Trust co now owns 2,575 shares of the technology company’s stock valued at $303,000 after buying an additional 305 shares in the last quarter. Centurion Wealth Management LLC boosted its holdings in shares of Trade Desk by 2.6% in the 4th quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company’s stock valued at $443,000 after buying an additional 96 shares in the last quarter. Finally, one8zero8 LLC acquired a new position in shares of Trade Desk in the 4th quarter valued at $494,000. 67.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TTD. Cantor Fitzgerald lowered their target price on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Oppenheimer lowered their target price on shares of Trade Desk from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Wolfe Research increased their price target on shares of Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Benchmark upgraded shares of Trade Desk from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Finally, StockNews.com cut shares of Trade Desk from a “buy” rating to a “hold” rating in a research note on Saturday, November 30th. Six investment 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 stock. According to data from MarketBeat.com, Trade Desk presently has an average rating of “Moderate Buy” and an average price target of $119.45.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction dated 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 transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk stock in a transaction dated 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 of the company’s stock, valued at approximately $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. In the last three months, insiders sold 41,029 shares of company stock worth $5,004,296. 9.72% of the stock is owned by corporate insiders.

Trade Desk Stock Up 0.1 %

Shares of TTD opened at $53.94 on Monday. The company has a 50-day simple moving average of $97.79 and a 200-day simple moving average of $111.58. The company has a market capitalization of $26.76 billion, a PE ratio of 69.15, a P/E/G ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 52-week low of $53.42 and a 52-week high of $141.53.

Trade Desk (NASDAQ:TTD) last announced its quarterly 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 net margin of 16.08% and a return on equity of 16.38%. On average, research analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk announced that its Board of Directors has approved a share repurchase program 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 stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors 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.