Quantbot Technologies LP Acquires New Shares in The Trade Desk, Inc. (NASDAQ:TTD)

Quantbot Technologies LP purchased a new position in The Trade Desk, Inc. (NASDAQ:TTD) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 74,623 shares of the technology company’s stock, valued at approximately $8,770,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Atria Investments Inc grew its stake in Trade Desk by 3.3% in the 3rd quarter. Atria Investments Inc now owns 31,876 shares of the technology company’s stock worth $3,495,000 after buying an additional 1,033 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Trade Desk during the third quarter valued at approximately $271,000. Prime Capital Investment Advisors LLC grew its holdings in shares of Trade Desk by 7.4% in the third quarter. Prime Capital Investment Advisors LLC now owns 10,367 shares of the technology company’s stock worth $1,137,000 after purchasing an additional 718 shares during the last quarter. Aptus Capital Advisors LLC increased its stake in shares of Trade Desk by 3.6% in the third quarter. Aptus Capital Advisors LLC now owns 4,116 shares of the technology company’s stock worth $451,000 after buying an additional 144 shares during the period. Finally, Empower Advisory Group LLC raised its holdings in Trade Desk by 91.2% during the 3rd quarter. Empower Advisory Group LLC now owns 12,454 shares of the technology company’s stock valued at $1,366,000 after buying an additional 5,942 shares during the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Trade Desk Trading Down 10.5 %

Shares of NASDAQ:TTD opened at $53.88 on Friday. The Trade Desk, Inc. has a 12 month low of $53.74 and a 12 month high of $141.53. The company has a market capitalization of $26.73 billion, a price-to-earnings ratio of 69.08, a PEG ratio of 3.11 and a beta of 1.63. The firm’s 50-day moving average is $100.42 and its 200 day moving average is $112.21.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS 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%. As a group, equities analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its board has initiated a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total value of $2,283,886.08. Following the sale, the chief executive officer now 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 through the SEC website. Also, insider Jay R. Grant sold 18,524 shares of the firm’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 sale, the insider now directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,029 shares of company stock worth $5,004,296. Company insiders own 9.72% of the company’s stock.

Wall Street Analyst Weigh In

TTD has been the topic of a number of analyst reports. JMP Securities decreased their price objective on shares of Trade Desk from $150.00 to $115.00 and set a “market outperform” rating on the stock in a research report on Thursday, February 13th. Wedbush upped their price target on Trade Desk from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Citizens Jmp upgraded Trade Desk to a “strong-buy” rating in a research report on Tuesday, January 21st. Citigroup reduced their target price on Trade Desk from $140.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Robert W. Baird lowered their target price on Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $119.45.

About Trade Desk

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.