Virtu Financial LLC Invests $7.63 Million in The Trade Desk, Inc. (NASDAQ:TTD)

Virtu Financial LLC bought a new position in The Trade Desk, Inc. (NASDAQ:TTD) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 64,920 shares of the technology company’s stock, valued at approximately $7,630,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Edgewood Management LLC increased its holdings in Trade Desk by 133.3% during the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock valued at $1,089,280,000 after buying an additional 5,675,571 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Trade Desk during the fourth quarter valued at approximately $231,570,000. National Pension Service increased its holdings in Trade Desk by 104.1% during the fourth quarter. National Pension Service now owns 1,264,985 shares of the technology company’s stock valued at $148,674,000 after buying an additional 645,240 shares during the last quarter. Wellington Management Group LLP increased its holdings in Trade Desk by 55.3% during the third quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company’s stock valued at $169,892,000 after buying an additional 551,925 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Trade Desk by 1,809.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 444,616 shares of the technology company’s stock worth $48,752,000 after purchasing an additional 421,333 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

Trade Desk Trading Up 0.8 %

Trade Desk stock opened at $56.31 on Friday. The firm has a 50-day moving average price of $91.14 and a 200-day moving average price of $109.79. The firm has a market capitalization of $27.93 billion, a PE ratio of 72.19, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 12-month low of $53.39 and a 12-month high of $141.53.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. As a group, 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 repurchase program on Wednesday, February 12th that permits the company to repurchase $564.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Trade Desk

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the completion of the transaction, the insider now directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,029 shares of company stock worth $5,004,296 in the last 90 days. 9.72% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Truist Financial reduced their price objective on shares of Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Needham & Company LLC reissued a “buy” rating and issued a $145.00 price objective on shares of Trade Desk in a research note on Thursday, March 13th. Macquarie increased their price objective on shares of Trade Desk from $133.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. KeyCorp reduced their price objective on shares of Trade Desk from $130.00 to $74.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Citizens Jmp raised shares of Trade Desk to a “strong-buy” rating in a research note on Tuesday, January 21st. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Trade Desk currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.41.

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.