Handelsbanken Fonder AB Buys 43,286 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Handelsbanken Fonder AB raised its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 26.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 209,644 shares of the technology company’s stock after acquiring an additional 43,286 shares during the period. Handelsbanken Fonder AB’s holdings in Trade Desk were worth $24,639,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Edgewood Management LLC lifted its position in shares of 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 purchasing an additional 5,675,571 shares in the last quarter. Jennison Associates LLC increased its stake in Trade Desk by 11.0% in the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock valued at $2,228,172,000 after buying an additional 2,013,047 shares during the last quarter. Baillie Gifford & Co. lifted its position in shares of Trade Desk by 4.7% during the 3rd quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock worth $4,245,218,000 after buying an additional 1,720,650 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Trade Desk by 10,856.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,572,820 shares of the technology company’s stock worth $172,460,000 after buying an additional 1,558,465 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake 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 buying an additional 551,925 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. New Street Research raised Trade Desk from a “sell” rating to a “neutral” rating and increased their price target for the company from $85.00 to $115.00 in a research report on Monday, November 25th. Piper Sandler reaffirmed an “overweight” rating and set a $110.00 target price (down from $140.00) on shares of Trade Desk in a research report on Thursday, February 13th. Citizens Jmp raised shares of Trade Desk to a “strong-buy” rating in a report on Tuesday, January 21st. Macquarie raised their price objective on shares of Trade Desk from $133.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Finally, Evercore ISI cut shares of Trade Desk from an “outperform” rating to an “inline” rating and dropped their target price for the company from $135.00 to $90.00 in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $119.45.

Insider Buying and Selling

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of Trade Desk 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 completion of the sale, the insider now owns 90,709 shares of the company’s stock, valued at $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The sale 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 the company’s stock in a transaction dated 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 completion of the transaction, the insider now owns 169,464 shares of the company’s stock, valued at $20,225,528.40. The trade was a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,029 shares of company stock worth $5,004,296. Insiders own 9.72% of the company’s stock.

Trade Desk Price Performance

TTD opened at $75.73 on Friday. The firm has a market capitalization of $37.38 billion, a P/E ratio of 97.09, a price-to-earnings-growth ratio of 3.28 and a beta of 1.45. The Trade Desk, Inc. has a one year low of $74.10 and a one year high of $141.53. The company has a fifty day moving average price of $116.48 and a 200-day moving average price of $114.96.

Trade Desk (NASDAQ:TTD) last posted 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 return on equity of 16.38% and a net margin of 16.08%. On average, analysts expect 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 share repurchase plan on Wednesday, February 12th that allows the company to buyback $564.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 0.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Trade Desk 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.