Teacher Retirement System of Texas Purchases 92,165 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Teacher Retirement System of Texas increased its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 3,091.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,146 shares of the technology company’s stock after acquiring an additional 92,165 shares during the quarter. Teacher Retirement System of Texas’ holdings in Trade Desk were worth $11,183,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Rialto Wealth Management LLC acquired a new position in Trade Desk during the 4th quarter valued at approximately $26,000. Harbor Investment Advisory LLC increased 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. Synergy Asset Management LLC acquired a new position in Trade Desk during the 4th quarter valued at approximately $34,000. Midwest Capital Advisors LLC acquired a new position in Trade Desk during the 4th quarter valued at approximately $34,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Trade Desk in the 4th quarter valued at $35,000. Institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Up 0.8 %

Shares of NASDAQ TTD opened at $56.31 on Friday. The firm has a 50-day simple moving average of $91.14 and a 200-day simple moving average of $109.79. The stock has a market capitalization of $27.93 billion, a price-to-earnings ratio of 72.19, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 52 week low of $53.39 and a 52 week 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 (EPS) 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, equities research analysts expect that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

TTD has been the topic of several recent research reports. Royal Bank of Canada dropped their price objective on shares of Trade Desk from $120.00 to $100.00 and set an “outperform” rating on the stock in a report on Monday, March 17th. Benchmark raised shares of Trade Desk from a “sell” rating to a “hold” rating in a report on Friday, March 7th. Morgan Stanley dropped their price objective on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. KeyCorp dropped their price objective on shares of Trade Desk from $130.00 to $74.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Wolfe Research upped their price objective on shares of Trade Desk from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.41.

Insider Buying and Selling

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the 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 completion of the transaction, the chief executive officer now owns 704,229 shares of the company’s stock, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jay R. Grant sold 18,524 shares of the 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 directly owns 169,464 shares of the company’s stock, 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. Over the last ninety days, insiders sold 41,029 shares of company stock worth $5,004,296. Insiders own 9.72% of the company’s stock.

Trade Desk 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.