Nemes Rush Group LLC Purchases 5,391 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Nemes Rush Group LLC raised its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 173.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,502 shares of the technology company’s stock after buying an additional 5,391 shares during the quarter. Nemes Rush Group LLC’s holdings in Trade Desk were worth $999,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Lyell Wealth Management LP increased its stake in Trade Desk by 24.3% in the fourth quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock valued at $11,558,000 after acquiring an additional 19,204 shares during the period. Nordea Investment Management AB boosted its holdings in 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 valued at $159,132,000 after purchasing an additional 358,350 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Trade Desk by 276.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company’s stock valued at $8,255,000 after purchasing an additional 51,603 shares during the period. Independent Solutions Wealth Management LLC raised its holdings in shares of Trade Desk by 21.0% in the 3rd quarter. Independent Solutions Wealth Management LLC now owns 64,358 shares of the technology company’s stock worth $7,057,000 after buying an additional 11,181 shares in the last quarter. Finally, Moody National Bank Trust Division bought a new position in shares of Trade Desk during the 4th quarter worth approximately $985,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Trading Down 2.0 %

NASDAQ:TTD opened at $54.72 on Tuesday. The Trade Desk, Inc. has a 1 year low of $52.90 and a 1 year high of $141.53. The stock has a 50-day moving average price of $83.62 and a two-hundred day moving average price of $108.07. The stock has a market cap of $27.15 billion, a price-to-earnings ratio of 70.15, a PEG ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last issued 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 net margin of 16.08% and a return on equity of 16.38%. Sell-side analysts forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction dated Tuesday, January 28th. The stock was 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the business’s 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 completion of the sale, the chief executive officer now owns 704,229 shares in the company, valued at $88,338,485.76. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. 9.72% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TTD has been the subject of several recent analyst reports. BMO Capital Markets dropped their price objective on Trade Desk from $160.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Evercore ISI downgraded shares of Trade Desk from an “outperform” rating to an “inline” rating and cut their price target for the company from $135.00 to $90.00 in a report on Thursday, February 13th. Wells Fargo & Company decreased their price objective on shares of Trade Desk from $101.00 to $72.00 and set an “overweight” rating on the stock in a research note on Monday. Royal Bank of Canada cut their target price on shares of Trade Desk from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Monday, March 17th. Finally, Citizens Jmp upgraded Trade Desk to a “strong-buy” rating in a research report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Trade Desk currently has an average rating of “Moderate Buy” and an average target price of $115.41.

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.