Chung Wu Investment Group LLC Purchases Shares of 1,800 The Trade Desk, Inc. (NASDAQ:TTD)

Chung Wu Investment Group LLC purchased a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,800 shares of the technology company’s stock, valued at approximately $212,000.

Several other hedge funds and other institutional investors also recently modified their holdings of TTD. Baillie Gifford & Co. raised its holdings 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 acquiring an additional 1,720,650 shares during the last quarter. Jennison Associates LLC boosted its position in Trade Desk by 11.0% during the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after acquiring an additional 2,013,047 shares during the period. Edgewood Management LLC raised its position in 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 acquiring an additional 5,675,571 shares in the last quarter. FMR LLC lifted its stake in Trade Desk by 1.3% during the third quarter. FMR LLC now owns 2,616,203 shares of the technology company’s stock valued at $286,867,000 after buying an additional 32,999 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings 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 during the period. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the transaction, the chief executive officer now owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the sale, the insider now owns 169,464 shares in the company, valued at $20,225,528.40. This represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,029 shares of company stock valued at $5,004,296 over the last 90 days. Insiders own 9.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TTD. Stifel Nicolaus lowered their price target on Trade Desk from $144.00 to $122.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Cantor Fitzgerald reduced their target price on Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Benchmark reiterated a “sell” rating and set a $57.00 price objective on shares of Trade Desk in a research note on Friday, November 8th. Susquehanna lowered their target price on Trade Desk from $150.00 to $135.00 and set a “positive” rating for the company in a research note on Thursday, February 13th. Finally, DA Davidson lowered their target price on Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Trade Desk presently has an average rating of “Moderate Buy” and a consensus target price of $119.45.

Trade Desk Stock Performance

NASDAQ:TTD opened at $66.54 on Thursday. The Trade Desk, Inc. has a fifty-two week low of $64.56 and a fifty-two week high of $141.53. The stock has a market capitalization of $33.01 billion, a P/E ratio of 85.31, a PEG ratio of 3.11 and a beta of 1.45. The company has a 50 day moving average price of $107.39 and a 200 day moving average price of $114.00.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data 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 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 announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in shares. This repurchase authorization authorizes the technology company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

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.