Sterling Capital Management LLC Grows Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Sterling Capital Management LLC grew its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 3.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,640 shares of the technology company’s stock after buying an additional 1,782 shares during the quarter. Sterling Capital Management LLC’s holdings in Trade Desk were worth $6,774,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in TTD. Rialto Wealth Management LLC purchased a new position in shares of Trade Desk in the fourth quarter valued at $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 acquiring an additional 117 shares during the last quarter. Midwest Capital Advisors LLC purchased a new stake in shares of Trade Desk in the fourth quarter valued at $34,000. Zions Bancorporation N.A. boosted 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 worth $34,000 after acquiring an additional 175 shares during the last quarter. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Trade Desk during the 4th quarter valued at $35,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Samantha Jacobson sold 4,298 shares of the 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 approximately $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 9.72% of the company’s stock.

Wall Street Analysts Forecast Growth

TTD has been the topic of several research reports. Loop Capital cut their price target on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and issued a $145.00 price target on shares of Trade Desk in a research note on Thursday, March 13th. Evercore ISI downgraded shares of Trade Desk from an “outperform” rating to an “inline” rating and reduced their price objective for the company from $135.00 to $90.00 in a research note on Thursday, February 13th. Cfra Research raised Trade Desk to a “moderate buy” rating in a report on Tuesday, March 25th. Finally, KeyCorp dropped their price objective on shares of Trade Desk from $74.00 to $67.00 and set an “overweight” rating on the stock in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $111.79.

Trade Desk Stock Performance

Shares of NASDAQ:TTD opened at $49.78 on Friday. The stock has a market capitalization of $24.70 billion, a price-to-earnings ratio of 63.82, a PEG ratio of 3.11 and a beta of 1.56. The company has a 50 day moving average price of $68.37 and a 200 day moving average price of $103.64. The Trade Desk, Inc. has a 1-year low of $42.96 and a 1-year high of $141.53.

Trade Desk (NASDAQ:TTD) last released its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share 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, sell-side analysts expect 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 plan on Wednesday, February 12th that authorizes the company to buyback $564.00 million in outstanding shares. This buyback authorization authorizes the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

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.