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

NEOS Investment Management LLC raised its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 20.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 31,486 shares of the technology company’s stock after buying an additional 5,259 shares during the period. NEOS Investment Management LLC’s holdings in Trade Desk were worth $3,701,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Lyell Wealth Management LP increased its position in Trade Desk by 24.3% during the 4th quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock worth $11,558,000 after purchasing an additional 19,204 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Trade Desk by 36.2% during the fourth quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock worth $159,132,000 after buying an additional 358,350 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Trade Desk by 3.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,109,380 shares of the technology company’s stock valued at $231,294,000 after buying an additional 68,206 shares during the period. Assenagon Asset Management S.A. boosted its position in Trade Desk by 276.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company’s stock worth $8,255,000 after acquiring an additional 51,603 shares during the last quarter. Finally, Independent Solutions Wealth Management LLC grew its stake in Trade Desk by 21.0% in the 3rd quarter. Independent Solutions Wealth Management LLC now owns 64,358 shares of the technology company’s stock worth $7,057,000 after acquiring an additional 11,181 shares during the period. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Performance

NASDAQ:TTD opened at $57.26 on Friday. The stock has a market cap of $28.41 billion, a price-to-earnings ratio of 73.41, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a one year low of $53.39 and a one year high of $141.53. The business’s 50-day simple moving average is $86.39 and its 200 day simple moving average is $108.61.

Trade Desk (NASDAQ:TTD) last announced its earnings results 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 net margin of 16.08% and a return on equity of 16.38%. On average, equities research analysts predict that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk declared that its board has initiated a share buyback program on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Trade Desk

In related news, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the sale, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This represents a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the transaction, the insider now owns 169,464 shares in the company, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock worth $5,004,296 in the last ninety days. 9.72% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TTD. StockNews.com cut Trade Desk from a “buy” rating to a “hold” rating in a report on Saturday, November 30th. Truist Financial lowered their price target on Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Robert W. Baird cut 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. Benchmark upgraded shares of Trade Desk from a “sell” rating to a “hold” rating in a report on Friday, March 7th. Finally, Royal Bank of Canada dropped their price target on shares of Trade Desk from $120.00 to $100.00 and set an “outperform” rating for the company in a research report on Monday, March 17th. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus 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.