Jag Capital Management LLC Acquires Shares of 87,549 The Trade Desk, Inc. (NASDAQ:TTD)

Jag Capital Management LLC acquired a new stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 87,549 shares of the technology company’s stock, valued at approximately $10,290,000. Trade Desk comprises 1.4% of Jag Capital Management LLC’s investment portfolio, making the stock its 28th biggest holding.

Several other institutional investors have also bought and sold shares of the business. Harbor Investment Advisory LLC raised its stake in shares of Trade Desk by 68.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after acquiring an additional 117 shares during the period. Midwest Capital Advisors LLC purchased a new stake in shares of Trade Desk in the fourth quarter valued at $34,000. Exchange Traded Concepts LLC purchased a new position in Trade Desk in the 4th quarter worth about $35,000. Synergy Asset Management LLC purchased a new position in Trade Desk in the 4th quarter worth about $34,000. Finally, Kestra Investment Management LLC purchased a new position in Trade Desk in the 4th quarter worth about $39,000. Institutional investors own 67.77% of the company’s stock.

Trade Desk Price Performance

TTD opened at $67.17 on Tuesday. The stock has a market capitalization of $33.32 billion, a price-to-earnings ratio of 86.12, a price-to-earnings-growth ratio of 3.11 and a beta of 1.45. The business has a 50-day moving average of $109.60 and a two-hundred day moving average of $114.47. The Trade Desk, Inc. has a 12 month low of $66.82 and a 12 month high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. Equities research analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its board has initiated a stock buyback plan on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 0.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

TTD has been the topic of several recent analyst reports. DA Davidson reduced their price target 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. BMO Capital Markets reduced their price target on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Robert W. Baird cut their target price on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Royal Bank of Canada cut their target price on shares of Trade Desk from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Finally, KeyCorp raised their target price on shares of Trade Desk from $140.00 to $142.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $119.45.

Insider Transactions at Trade Desk

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the completion of the transaction, the insider now owns 169,464 shares in the company, valued at $20,225,528.40. This represents a 9.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the company’s 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 transaction, the insider now owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,029 shares of company stock worth $5,004,296. 9.72% of the stock is currently owned by company insiders.

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.