Dorsey & Whitney Trust CO LLC Purchases 935 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Dorsey & Whitney Trust CO LLC raised its position in The Trade Desk, Inc. (NASDAQ:TTD) by 25.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,678 shares of the technology company’s stock after buying an additional 935 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Trade Desk were worth $550,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Baillie Gifford & Co. boosted its stake in shares of Trade Desk by 4.7% in the 3rd quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock valued at $4,245,218,000 after purchasing an additional 1,720,650 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of 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 purchasing an additional 2,013,047 shares in the last quarter. Edgewood Management LLC boosted its stake in shares of Trade Desk by 133.3% in the 3rd 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. FMR LLC boosted its stake in shares of Trade Desk by 1.3% in the 3rd quarter. FMR LLC now owns 2,616,203 shares of the technology company’s stock valued at $286,867,000 after purchasing an additional 32,999 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Trade Desk by 3.3% in the 3rd 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 purchasing an additional 68,206 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Loop Capital reduced their price target on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Piper Sandler reiterated 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. Royal Bank of Canada cut their target price on shares of Trade Desk from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Scotiabank cut their target price on shares of Trade Desk from $133.00 to $83.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 13th. Finally, Stifel Nicolaus cut their target price on shares of Trade Desk from $144.00 to $122.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Six research 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $119.45.

Trade Desk Stock Down 7.1 %

NASDAQ:TTD opened at $60.31 on Tuesday. The firm has a market capitalization of $29.92 billion, a P/E ratio of 77.32, a P/E/G ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a twelve month low of $60.20 and a twelve month high of $141.53. The company has a fifty day moving average of $103.94 and a 200-day moving average of $113.21.

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

Trade Desk announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 12th that permits the company to repurchase $564.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other 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 sale, the insider now directly owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jay R. Grant sold 18,524 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the completion of the sale, the insider now directly owns 169,464 shares in the company, valued at approximately $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. Insiders sold 41,029 shares of company stock worth $5,004,296 over the last quarter. 9.72% of the stock is currently owned by company 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.