DnB Asset Management AS Boosts Stake in The Trade Desk, Inc. (NASDAQ:TTD)

DnB Asset Management AS raised its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 8.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 80,676 shares of the technology company’s stock after buying an additional 6,096 shares during the period. DnB Asset Management AS’s holdings in Trade Desk were worth $9,482,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Orion Portfolio Solutions LLC lifted its stake in shares of Trade Desk by 1.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 42,226 shares of the technology company’s stock valued at $4,963,000 after buying an additional 763 shares during the period. Norges Bank acquired a new position in Trade Desk in the 4th quarter valued at $524,187,000. Blair William & Co. IL lifted its stake in shares of Trade Desk by 52.5% during the 4th quarter. Blair William & Co. IL now owns 12,924 shares of the technology company’s stock worth $1,519,000 after purchasing an additional 4,448 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in shares of Trade Desk by 158.5% during the fourth quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 6,199 shares of the technology company’s stock worth $729,000 after purchasing an additional 3,801 shares during the last quarter. Finally, NEOS Investment Management LLC grew its position in shares of Trade Desk by 20.1% in the fourth quarter. NEOS Investment Management LLC now owns 31,486 shares of the technology company’s stock valued at $3,701,000 after purchasing an additional 5,259 shares during the period. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Performance

Shares of TTD opened at $55.85 on Friday. The Trade Desk, Inc. has a one year low of $53.39 and a one year high of $141.53. The stock has a 50-day moving average price of $85.01 and a 200 day moving average price of $108.37. The company has a market capitalization of $27.71 billion, a P/E ratio of 71.60, a P/E/G ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last released 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 net margin of 16.08% and a return on equity of 16.38%. As a group, equities research analysts forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to buy up to 0.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the 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 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the business’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 value of $509,570.88. Following the completion of the sale, the insider now owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,029 shares of company stock valued at $5,004,296 in the last ninety days. Corporate insiders own 9.72% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on TTD. Morgan Stanley decreased their price target on Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Robert W. Baird lowered their target price on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. UBS Group increased their price target on shares of Trade Desk from $116.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Loop Capital lowered their price objective on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Finally, StockNews.com lowered Trade Desk from a “buy” rating to a “hold” rating in a research report on Saturday, November 30th. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.