Sei Investments Co. Grows Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Sei Investments Co. increased its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 5.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 347,726 shares of the technology company’s stock after acquiring an additional 18,362 shares during the period. Sei Investments Co. owned approximately 0.07% of Trade Desk worth $40,870,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Quest Partners LLC purchased a new stake in shares of Trade Desk in the 3rd quarter valued at approximately $85,000. Pathstone Holdings LLC lifted its position in shares of Trade Desk by 14.1% during the third quarter. Pathstone Holdings LLC now owns 18,284 shares of the technology company’s stock worth $2,005,000 after purchasing an additional 2,263 shares in the last quarter. Avior Wealth Management LLC boosted its stake in shares of Trade Desk by 37.7% in the third quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock valued at $40,000 after purchasing an additional 100 shares during the period. Intech Investment Management LLC lifted its holdings in Trade Desk by 1.3% during the 3rd quarter. Intech Investment Management LLC now owns 20,119 shares of the technology company’s stock worth $2,206,000 after buying an additional 261 shares in the last quarter. Finally, Nwam LLC acquired a new position in shares of Trade Desk in the third quarter worth $280,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Insiders Place Their Bets

In related news, insider Jay R. Grant sold 18,524 shares of the firm’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 directly owns 169,464 shares of the company’s stock, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total value of $2,283,886.08. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,029 shares of company stock worth $5,004,296. Corporate insiders own 9.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TTD. Scotiabank decreased their price objective on Trade Desk from $133.00 to $83.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. Cantor Fitzgerald cut their price objective on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Loop Capital lowered their target price on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Wedbush lifted their price target on shares of Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Finally, Royal Bank of Canada decreased their price objective on shares of Trade Desk from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Monday, March 17th. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Trade Desk currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.41.

Trade Desk Stock Up 5.4 %

Shares of NASDAQ:TTD opened at $59.34 on Tuesday. The Trade Desk, Inc. has a 52 week low of $53.39 and a 52 week high of $141.53. The company has a 50-day moving average price of $89.97 and a 200 day moving average price of $109.60. The company has a market cap of $29.44 billion, a P/E ratio of 76.08, a PEG ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS 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%. Analysts expect that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk declared that its board has authorized a share buyback program on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is 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.