ING Groep NV Invests $1.29 Million in The Trade Desk, Inc. (NASDAQ:TTD)

ING Groep NV acquired a new stake in The Trade Desk, Inc. (NASDAQ:TTD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,985 shares of the technology company’s stock, valued at approximately $1,291,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Focus Financial Network Inc. grew its stake in shares of Trade Desk by 2.2% during the 4th quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock worth $456,000 after purchasing an additional 84 shares during the period. CAP Partners LLC grew its position in Trade Desk by 1.4% during the third quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock worth $702,000 after buying an additional 86 shares during the period. RMR Wealth Builders increased its holdings in Trade Desk by 0.8% in the fourth quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock valued at $1,247,000 after buying an additional 89 shares in the last quarter. Quotient Wealth Partners LLC lifted its position in shares of Trade Desk by 4.2% during the 4th quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock valued at $276,000 after acquiring an additional 94 shares during the period. Finally, TFB Advisors LLC boosted its stake in shares of Trade Desk by 2.6% during the 4th quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock worth $442,000 after acquiring an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 704,229 shares in the company, valued at approximately $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 through this link. Also, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the transaction, the insider now directly owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,029 shares of company stock valued at $5,004,296 over the last quarter. Insiders own 9.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Evercore ISI downgraded Trade Desk from an “outperform” rating to an “inline” rating and dropped their price objective for the company from $135.00 to $90.00 in a research note on Thursday, February 13th. Piper Sandler restated an “overweight” rating and issued a $110.00 price target (down previously from $140.00) on shares of Trade Desk in a research report on Thursday, February 13th. New Street Research upgraded shares of Trade Desk from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $85.00 to $115.00 in a research report on Monday, November 25th. Wolfe Research raised their target price on shares of Trade Desk from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, Robert W. Baird cut their target price on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $119.45.

Trade Desk Stock Performance

Shares of TTD opened at $72.06 on Monday. The firm has a market cap of $35.57 billion, a PE ratio of 92.38, a PEG ratio of 3.11 and a beta of 1.45. The firm’s 50 day moving average price is $115.27 and its 200 day moving average price is $115.30. The Trade Desk, Inc. has a twelve month low of $71.61 and a twelve month high of $141.53.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share 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%. On average, sell-side analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its board has authorized a stock repurchase program on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board 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.