Vanguard Group Inc. Has $5.02 Billion Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Vanguard Group Inc. grew its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 0.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,670,254 shares of the technology company’s stock after purchasing an additional 253,137 shares during the period. Vanguard Group Inc. owned about 0.09% of Trade Desk worth $5,015,035,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TTD. Raymond James Financial Inc. bought a new position in shares of Trade Desk during the 4th quarter worth about $231,570,000. National Pension Service lifted its holdings in shares of Trade Desk by 104.1% during the 4th 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. Wellington Management Group LLP lifted its holdings in shares of Trade Desk by 55.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company’s stock worth $169,892,000 after acquiring an additional 551,925 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Trade Desk by 1,809.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 444,616 shares of the technology company’s stock worth $48,752,000 after acquiring an additional 421,333 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of Trade Desk by 326.1% during the 3rd quarter. Franklin Resources Inc. now owns 509,495 shares of the technology company’s stock worth $60,105,000 after acquiring an additional 389,917 shares during the period. 67.77% of the stock is owned by institutional investors.

Trade Desk Price Performance

TTD opened at $56.31 on Monday. The company has a market cap of $27.93 billion, a price-to-earnings ratio of 72.19, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The firm has a 50 day simple moving average of $91.14 and a 200 day simple moving average of $109.91. The Trade Desk, Inc. has a fifty-two week low of $53.39 and a fifty-two week high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its 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%. As a group, analysts expect 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 stock buyback program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to buy up to 0.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of the 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 completion of the sale, the insider now 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jay R. Grant sold 18,524 shares of the stock in a transaction 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 sale, the insider now directly owns 169,464 shares of the company’s stock, valued at $20,225,528.40. This represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,029 shares of company stock valued at $5,004,296. Corporate insiders own 9.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TTD shares. Wells Fargo & Company cut their price target on shares of Trade Desk from $142.00 to $101.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Citigroup cut their price target on shares of Trade Desk from $140.00 to $108.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Piper Sandler reissued an “overweight” rating and set a $110.00 price target (down from $140.00) on shares of Trade Desk in a report on Thursday, February 13th. BMO Capital Markets cut their price target on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Finally, Morgan Stanley cut their price target on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Trade Desk presently has an average rating of “Moderate Buy” and a consensus target price of $116.41.

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.