The Trade Desk, Inc. (NASDAQ:TTD) Shares Bought by ARK Investment Management LLC

ARK Investment Management LLC grew its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,271,113 shares of the technology company’s stock after purchasing an additional 5,548 shares during the quarter. Trade Desk makes up about 1.2% of ARK Investment Management LLC’s portfolio, making the stock its 24th biggest holding. ARK Investment Management LLC’s holdings in Trade Desk were worth $149,394,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TTD. Amalgamated Bank raised its holdings in shares of Trade Desk by 1.8% during the 4th quarter. Amalgamated Bank now owns 30,070 shares of the technology company’s stock worth $3,534,000 after acquiring an additional 537 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Trade Desk by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,019,707 shares of the technology company’s stock worth $237,376,000 after acquiring an additional 5,080 shares during the period. IFP Advisors Inc raised its holdings in shares of Trade Desk by 69.1% during the 4th quarter. IFP Advisors Inc now owns 10,044 shares of the technology company’s stock worth $1,180,000 after acquiring an additional 4,104 shares during the period. Midwest Capital Advisors LLC purchased a new position in shares of Trade Desk during the 4th quarter worth $34,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Trade Desk during the 4th quarter worth $4,956,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Stock Performance

Shares of Trade Desk stock opened at $74.98 on Wednesday. The Trade Desk, Inc. has a one year low of $70.44 and a one year high of $141.53. The company has a market cap of $37.01 billion, a PE ratio of 96.13, a P/E/G ratio of 3.11 and a beta of 1.45. The business has a 50-day simple moving average of $112.90 and a 200-day simple moving average of $115.03.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 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%. On average, sell-side analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in shares. This repurchase authorization allows the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wells Fargo & Company reduced their price target on Trade Desk from $142.00 to $101.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Morgan Stanley reduced their price target on Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. UBS Group lifted their price target on Trade Desk from $116.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Robert W. Baird reduced their price objective on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, Cantor Fitzgerald reduced 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $119.45.

Insider Transactions at Trade Desk

In related news, 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 directly owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction that occurred on 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 directly owns 704,229 shares of the company’s stock, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,029 shares of company stock valued at $5,004,296. 9.72% of the stock is currently owned by corporate 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.