Vestmark Advisory Solutions Inc. Increases Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Vestmark Advisory Solutions Inc. raised its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 23.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,486 shares of the technology company’s stock after buying an additional 14,253 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Trade Desk were worth $8,315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in TTD. Harbor Investment Advisory LLC boosted its position in shares of Trade Desk by 68.8% during the 4th 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 last quarter. Midwest Capital Advisors LLC bought a new stake in shares of Trade Desk during the fourth quarter worth $34,000. Exchange Traded Concepts LLC bought a new stake in shares of Trade Desk during the fourth quarter worth $35,000. Synergy Asset Management LLC purchased a new position in shares of Trade Desk during the fourth quarter valued at $34,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Trade Desk during the fourth quarter valued at $39,000. 67.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Jay R. Grant sold 18,524 shares of the stock in a transaction dated 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 transaction, the insider now owns 169,464 shares in the company, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 704,229 shares in the company, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,029 shares of company stock worth $5,004,296 in the last quarter. 9.72% of the stock is owned by company insiders.

Trade Desk Trading Down 1.6 %

TTD opened at $66.54 on Thursday. The stock’s 50-day moving average price is $107.39 and its 200 day moving average price is $114.00. The Trade Desk, Inc. has a 12-month low of $64.56 and a 12-month high of $141.53. The firm has a market cap of $33.01 billion, a price-to-earnings ratio of 85.31, a PEG ratio of 3.11 and a beta of 1.45.

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 return on equity of 16.38% and a net margin of 16.08%. On average, research analysts forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its board has authorized a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 0.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have recently commented on TTD shares. Wolfe Research raised their price target on Trade Desk from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. KeyCorp raised their price target on Trade Desk from $140.00 to $142.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. New Street Research upgraded Trade Desk from a “sell” rating to a “neutral” rating and raised their price target for the company from $85.00 to $115.00 in a research note on Monday, November 25th. Cantor Fitzgerald cut their price target on Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Finally, Susquehanna cut their target price on Trade Desk from $150.00 to $135.00 and set a “positive” rating on the stock in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Trade Desk currently has a consensus rating of “Moderate Buy” and an average price target of $119.45.

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.