Clearbridge Investments LLC Has $61.59 Million Position in The Trade Desk, Inc. (NASDAQ:TTD)

Clearbridge Investments LLC grew its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 0.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 524,028 shares of the technology company’s stock after buying an additional 1,270 shares during the period. Clearbridge Investments LLC’s holdings in Trade Desk were worth $61,589,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other news, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the transaction, the insider now owns 90,709 shares in the company, valued at $10,754,459.04. The trade was a 4.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the sale, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at $88,338,485.76. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.72% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on TTD. Susquehanna cut their price target on shares of Trade Desk from $150.00 to $135.00 and set a “positive” rating on the stock in a research report on Thursday, February 13th. Cfra Research upgraded Trade Desk to a “moderate buy” rating in a research report on Tuesday, March 25th. Stifel Nicolaus decreased their target price on Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Wolfe Research boosted their price target on Trade Desk from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, Citigroup cut their price target on Trade Desk from $140.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $115.41.

Trade Desk Trading Down 2.0 %

Shares of Trade Desk stock opened at $54.72 on Tuesday. The company has a market capitalization of $27.15 billion, a P/E ratio of 70.15, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The stock has a fifty day simple moving average of $83.62 and a 200 day simple moving average of $108.07. The Trade Desk, Inc. has a 12-month low of $52.90 and a 12-month high of $141.53.

Trade Desk (NASDAQ:TTD) last posted its earnings results 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%. On average, analysts predict that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk declared that its board has authorized a share buyback plan on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.