O Shaughnessy Asset Management LLC Raises Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

O Shaughnessy Asset Management LLC lifted its position in The Trade Desk, Inc. (NASDAQ:TTD) by 5.5% in the fourth quarter, Holdings Channel reports. The firm owned 43,822 shares of the technology company’s stock after buying an additional 2,284 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Trade Desk were worth $5,150,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of TTD. Norges Bank bought a new stake in shares of Trade Desk in the 4th quarter valued at about $524,187,000. Raymond James Financial Inc. bought a new position in Trade Desk in the fourth quarter worth approximately $231,570,000. Arrowstreet Capital Limited Partnership purchased a new stake in Trade Desk during the fourth quarter worth $100,658,000. National Pension Service boosted its position in Trade Desk by 104.1% during the 4th quarter. National Pension Service now owns 1,264,985 shares of the technology company’s stock valued at $148,674,000 after acquiring an additional 645,240 shares in the last quarter. Finally, 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 valued at $169,892,000 after acquiring an additional 551,925 shares during the period. Institutional investors own 67.77% of the company’s stock.

Trade Desk Trading Down 1.4 %

Shares of TTD stock opened at $56.30 on Thursday. The Trade Desk, Inc. has a twelve month low of $52.36 and a twelve month high of $141.53. The stock has a market cap of $27.93 billion, a P/E ratio of 72.18, a P/E/G ratio of 3.11 and a beta of 1.56. The stock has a 50 day moving average of $80.98 and a 200 day moving average of $107.36.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share 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%. On average, research 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 has authorized a share buyback program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TTD. Oppenheimer dropped their price objective on Trade Desk from $135.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. UBS Group raised their price target on shares of Trade Desk from $116.00 to $148.00 and gave the company a “buy” rating in a report on Friday, February 14th. Cantor Fitzgerald reduced their price objective on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Loop Capital lowered their target price on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Finally, Robert W. Baird reduced their price target on Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $114.38.

Insider Activity at Trade Desk

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the completion of the sale, the chief executive officer now directly owns 704,229 shares in the company, valued at $88,338,485.76. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was 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 $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.72% of the stock is currently owned by corporate 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.