Brown Brothers Harriman & Co. Acquires 648 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Brown Brothers Harriman & Co. grew its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 138.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,116 shares of the technology company’s stock after acquiring an additional 648 shares during the period. Brown Brothers Harriman & Co.’s holdings in Trade Desk were worth $131,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Rialto Wealth Management LLC bought a new stake in Trade Desk in the fourth quarter worth $26,000. Harbor Investment Advisory LLC boosted its position in Trade Desk by 68.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after purchasing an additional 117 shares during the period. Midwest Capital Advisors LLC acquired a new position in Trade Desk during the fourth quarter valued at approximately $34,000. Zions Bancorporation N.A. raised its position in shares of Trade Desk by 148.3% in the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after purchasing an additional 175 shares during the period. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Trade Desk in the fourth quarter worth $35,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Stock Performance

TTD opened at $57.10 on Wednesday. The company has a fifty day moving average price of $82.27 and a two-hundred day moving average price of $107.72. The firm has a market capitalization of $28.33 billion, a PE ratio of 73.21, a P/E/G ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 52 week low of $52.90 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 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. Equities analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current year.

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

Insider Buying and Selling

In other news, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction 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 transaction, the insider now owns 90,709 shares of the company’s stock, 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 company’s stock in a transaction on 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 sale, the chief executive officer now owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. 9.72% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TTD has been the topic of several research analyst reports. Benchmark raised Trade Desk from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Morgan Stanley lowered their price target 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. Scotiabank decreased their price objective on Trade Desk from $133.00 to $83.00 and set a “sector perform” rating on the stock in a report on Thursday, February 13th. Susquehanna dropped their target price on Trade Desk from $150.00 to $135.00 and set a “positive” rating for the company in a report on Thursday, February 13th. Finally, Royal Bank of Canada dropped their price objective on Trade Desk from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Monday, March 17th. Six equities 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 company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $115.41.

Trade Desk Company 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.