HighPoint Advisor Group LLC Raises Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

HighPoint Advisor Group LLC boosted its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 12.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,946 shares of the technology company’s stock after purchasing an additional 979 shares during the period. HighPoint Advisor Group LLC’s holdings in Trade Desk were worth $1,075,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TTD. Norges Bank bought a new stake in shares of Trade Desk in the fourth quarter worth about $524,187,000. Raymond James Financial Inc. bought a new stake in shares of Trade Desk in the 4th quarter worth approximately $231,570,000. Franklin Resources Inc. increased its stake in shares of Trade Desk by 265.9% during the fourth quarter. Franklin Resources Inc. now owns 1,864,386 shares of the technology company’s stock valued at $219,121,000 after buying an additional 1,354,891 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of Trade Desk during the fourth quarter valued at approximately $100,658,000. Finally, National Pension Service lifted its stake in Trade Desk by 104.1% in the fourth quarter. National Pension Service now owns 1,264,985 shares of the technology company’s stock worth $148,674,000 after acquiring an additional 645,240 shares during the period. Institutional investors own 67.77% of the company’s stock.

Trade Desk Trading Up 4.3 %

Shares of TTD stock opened at $57.10 on Wednesday. The Trade Desk, Inc. has a 12-month low of $52.90 and a 12-month high of $141.53. The stock has a market capitalization of $28.33 billion, a P/E ratio of 73.21, a P/E/G ratio of 3.11 and a beta of 1.63. The firm’s 50 day moving average is $82.27 and its 200 day moving average is $107.72.

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

Trade Desk announced that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits 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 board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Citigroup reduced their price objective on shares of Trade Desk from $140.00 to $108.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. DA Davidson decreased their price target on shares of Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Wells Fargo & Company lowered their price objective on shares of Trade Desk from $101.00 to $72.00 and set an “overweight” rating for the company in a report on Monday. Piper Sandler reiterated an “overweight” rating and set a $110.00 target price (down previously from $140.00) on shares of Trade Desk in a report on Thursday, February 13th. Finally, Royal Bank of Canada lowered their target price on 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 equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $115.41.

Insider Activity

In other Trade Desk 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 value of $2,283,886.08. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction dated 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 directly owns 90,709 shares in the company, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.72% of the company’s stock.

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.