Corps Capital Advisors LLC Invests $349,000 in The Trade Desk, Inc. (NASDAQ:TTD)

Corps Capital Advisors LLC acquired a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,970 shares of the technology company’s stock, valued at approximately $349,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Baillie Gifford & Co. boosted its position in shares of Trade Desk by 4.7% in the third 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 during the period. Jennison Associates LLC boosted its position in shares of Trade Desk by 11.0% in the third quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after buying an additional 2,013,047 shares during the period. Edgewood Management LLC boosted its position in shares of Trade Desk by 133.3% in the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock worth $1,089,280,000 after buying an additional 5,675,571 shares during the period. FMR LLC boosted its position in shares of Trade Desk by 1.3% in the third quarter. FMR LLC now owns 2,616,203 shares of the technology company’s stock worth $286,867,000 after buying an additional 32,999 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Trade Desk by 3.3% in 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 worth $231,294,000 after buying an additional 68,206 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Insider Activity at Trade Desk

In related news, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 704,229 shares of the company’s stock, 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. Over the last 90 days, insiders sold 41,029 shares of company stock worth $5,004,296. Company insiders own 9.72% of the company’s stock.

Trade Desk Stock Performance

NASDAQ TTD opened at $76.75 on Thursday. The firm has a 50-day simple moving average of $117.64 and a 200 day simple moving average of $115.23. The Trade Desk, Inc. has a twelve month low of $76.12 and a twelve month high of $141.53. The stock has a market cap of $37.88 billion, a PE ratio of 98.40, a PEG ratio of 3.28 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last released its 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%. Research analysts forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TTD shares. Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 target price (down previously from $140.00) on shares of Trade Desk in a research report on Thursday, February 13th. JMP Securities cut their price objective on Trade Desk from $150.00 to $115.00 and set a “market outperform” rating for the company in a report on Thursday, February 13th. BTIG Research increased their price objective on Trade Desk from $114.00 to $142.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Scotiabank cut their price objective on Trade Desk from $133.00 to $83.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. Finally, DA Davidson cut their price objective on Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $120.97.

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.