KLP Kapitalforvaltning AS Takes Position in The Trade Desk, Inc. (NASDAQ:TTD)

KLP Kapitalforvaltning AS acquired a new stake in The Trade Desk, Inc. (NASDAQ:TTD) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 151,900 shares of the technology company’s stock, valued at approximately $17,853,000.

A number of other hedge funds also recently made changes to their positions in TTD. Lyell Wealth Management LP increased its stake in shares of Trade Desk by 24.3% during the fourth quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock worth $11,558,000 after purchasing an additional 19,204 shares during the period. Nordea Investment Management AB increased its stake in shares of Trade Desk by 36.2% during the fourth quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock worth $159,132,000 after purchasing an additional 358,350 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Trade Desk by 3.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,109,380 shares of the technology company’s stock worth $231,294,000 after purchasing an additional 68,206 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Trade Desk by 276.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company’s stock worth $8,255,000 after purchasing an additional 51,603 shares during the period. Finally, Independent Solutions Wealth Management LLC increased its stake in Trade Desk by 21.0% during the 3rd quarter. Independent Solutions Wealth Management LLC now owns 64,358 shares of the technology company’s stock worth $7,057,000 after acquiring an additional 11,181 shares during the period. 67.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the transaction, the insider now directly owns 90,709 shares of the company’s stock, 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 is accessible through this link. Also, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,029 shares of company stock valued at $5,004,296. 9.72% of the stock is currently owned by company insiders.

Trade Desk Trading Up 0.8 %

Shares of TTD opened at $56.31 on Monday. The company has a market capitalization of $27.93 billion, a PE ratio of 72.19, a PEG ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 12 month low of $53.39 and a 12 month high of $141.53. The stock’s 50-day moving average price is $91.14 and its two-hundred day moving average price is $109.91.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Wednesday, February 12th. The technology company reported $0.36 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%. Equities research analysts predict that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

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

Analyst Ratings Changes

A number of research firms have commented on TTD. Wedbush raised their price objective on Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Robert W. Baird lowered their price objective on Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Benchmark upgraded Trade Desk from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Wells Fargo & Company lowered their price objective on Trade Desk from $142.00 to $101.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Finally, Cantor Fitzgerald decreased their price target on Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.41.

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.