Korea Investment CORP Increases Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Korea Investment CORP grew its position in The Trade Desk, Inc. (NASDAQ:TTD) by 4.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 317,940 shares of the technology company’s stock after purchasing an additional 13,747 shares during the quarter. Korea Investment CORP’s holdings in Trade Desk were worth $37,367,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in shares of Trade Desk during the fourth quarter valued at approximately $231,570,000. National Pension Service increased its holdings in shares of Trade Desk by 104.1% in the 4th quarter. National Pension Service now owns 1,264,985 shares of the technology company’s stock worth $148,674,000 after purchasing an additional 645,240 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Trade Desk by 55.3% in the 3rd quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company’s stock worth $169,892,000 after purchasing an additional 551,925 shares in the last quarter. Jacobs Levy Equity Management Inc. raised 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 during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Trade Desk by 326.1% during the third quarter. Franklin Resources Inc. now owns 509,495 shares of the technology company’s stock valued at $60,105,000 after purchasing an additional 389,917 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Loop Capital decreased their target price on Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. BMO Capital Markets decreased their price objective 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. Robert W. Baird dropped their target price 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. UBS Group boosted their target price on shares of Trade Desk from $116.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Finally, Cantor Fitzgerald dropped their price target on Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given 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 price target of $116.41.

Insiders Place Their Bets

In related news, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 90,709 shares in the company, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the transaction, the chief executive officer now owns 704,229 shares in the company, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,029 shares of company stock valued at $5,004,296 in the last three months. Corporate insiders own 9.72% of the company’s stock.

Trade Desk Trading Down 2.5 %

NASDAQ:TTD opened at $55.85 on Friday. The business’s 50-day moving average is $85.01 and its 200 day moving average is $108.31. The Trade Desk, Inc. has a 12 month low of $53.39 and a 12 month high of $141.53. The company has a market capitalization of $27.71 billion, a P/E ratio of 71.60, a P/E/G ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate 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, research analysts forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk declared that its Board of Directors has approved a stock repurchase plan on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 0.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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.