Ithaka Group LLC Has $12.68 Million Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Ithaka Group LLC lowered its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 4.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 107,894 shares of the technology company’s stock after selling 4,994 shares during the period. Trade Desk comprises about 2.3% of Ithaka Group LLC’s portfolio, making the stock its 15th biggest holding. Ithaka Group LLC’s holdings in Trade Desk were worth $12,681,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Rialto Wealth Management LLC acquired a new stake in shares of Trade Desk during the 4th quarter valued at $26,000. Harbor Investment Advisory LLC boosted its stake in shares of Trade Desk by 68.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after purchasing an additional 117 shares in the last quarter. Midwest Capital Advisors LLC bought a new stake in shares of Trade Desk during the fourth quarter worth about $34,000. Exchange Traded Concepts LLC acquired a new position in shares of Trade Desk in the fourth quarter valued at approximately $35,000. Finally, Synergy Asset Management LLC bought a new position in Trade Desk in the 4th quarter valued at approximately $34,000. 67.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TTD has been the subject of several recent research reports. Oppenheimer decreased their price target on shares of Trade Desk from $135.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Robert W. Baird reduced their price objective on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Needham & Company LLC reiterated a “buy” rating and set a $145.00 target price on shares of Trade Desk in a research report on Friday, March 7th. StockNews.com cut shares of Trade Desk from a “buy” rating to a “hold” rating in a report on Saturday, November 30th. Finally, Citigroup cut 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. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $119.45.

Trade Desk Trading Up 2.3 %

TTD stock opened at $60.20 on Thursday. The stock has a market capitalization of $29.86 billion, a price-to-earnings ratio of 77.18, a PEG ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 12-month low of $57.86 and a 12-month high of $141.53. The firm’s 50-day moving average price is $101.57 and its two-hundred day moving average price is $112.58.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data 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 analysts predict that The Trade Desk, Inc. will post 1.06 EPS for the current year.

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

Insider Transactions at Trade Desk

In related news, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the transaction, the insider now owns 90,709 shares in the company, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $119.35, for a total value of $2,210,839.40. Following the sale, the insider now directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,029 shares of company stock worth $5,004,296 over the last three months. 9.72% of the stock is currently owned by company insiders.

Trade Desk Company 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.