MIG Capital LLC Makes New Investment in The Trade Desk, Inc. (NASDAQ:TTD)

MIG Capital LLC bought a new stake in The Trade Desk, Inc. (NASDAQ:TTD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,657 shares of the technology company’s stock, valued at approximately $312,000.

A number of other large investors also recently made changes to their positions in TTD. Captrust Financial Advisors increased its position in Trade Desk by 2.3% during the third quarter. Captrust Financial Advisors now owns 14,404 shares of the technology company’s stock worth $1,579,000 after acquiring an additional 322 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Trade Desk by 2.8% during the third quarter. Janus Henderson Group PLC now owns 264,567 shares of the technology company’s stock worth $29,009,000 after purchasing an additional 7,085 shares during the period. Integrated Wealth Concepts LLC raised its position in shares of Trade Desk by 13.0% in the third quarter. Integrated Wealth Concepts LLC now owns 19,046 shares of the technology company’s stock valued at $2,088,000 after buying an additional 2,197 shares in the last quarter. IHT Wealth Management LLC boosted its stake in shares of Trade Desk by 51.3% in the third quarter. IHT Wealth Management LLC now owns 8,946 shares of the technology company’s stock valued at $989,000 after buying an additional 3,033 shares during the period. Finally, Royal London Asset Management Ltd. grew its position in Trade Desk by 3.0% during the third quarter. Royal London Asset Management Ltd. now owns 280,787 shares of the technology company’s stock worth $30,788,000 after buying an additional 8,083 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on TTD shares. UBS Group lifted their price objective on Trade Desk from $116.00 to $148.00 and gave the company a “buy” rating in a report on Friday, February 14th. KeyCorp cut their price objective on shares of Trade Desk from $130.00 to $74.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. Morgan Stanley decreased their target price 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. BMO Capital Markets cut their price target on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Finally, DA Davidson decreased their price objective on shares of Trade Desk from $134.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Six 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’s stock. According to MarketBeat.com, Trade Desk presently has an average rating of “Moderate Buy” and a consensus target price of $114.38.

Trade Desk Stock Down 5.8 %

NASDAQ TTD opened at $46.24 on Friday. The company has a market capitalization of $22.94 billion, a price-to-earnings ratio of 59.28, a PEG ratio of 3.11 and a beta of 1.56. The Trade Desk, Inc. has a twelve month low of $45.02 and a twelve month high of $141.53. The stock has a fifty day simple moving average of $78.11 and a 200 day simple moving average of $106.55.

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

Trade Desk announced that its board has authorized a stock repurchase 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 generally a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the sale, the chief executive officer now owns 704,229 shares in the company, valued at $88,338,485.76. This represents a 2.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of Trade Desk 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 completion of the sale, the insider now owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.72% of the company’s stock.

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.