The Trade Desk, Inc. (NASDAQ:TTD) Shares Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC lifted its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 6.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,819 shares of the technology company’s stock after purchasing an additional 597 shares during the period. Concurrent Investment Advisors LLC’s holdings in Trade Desk were worth $1,154,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Baillie Gifford & Co. increased its position in shares of Trade Desk by 4.7% during the third quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock worth $4,245,218,000 after purchasing an additional 1,720,650 shares in the last quarter. Jennison Associates LLC increased its position 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 acquiring an additional 2,013,047 shares during the period. Edgewood Management LLC increased its position in 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 acquiring an additional 5,675,571 shares during the period. FMR LLC increased its position in 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 acquiring an additional 32,999 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in 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 acquiring an additional 68,206 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Stock Performance

TTD stock opened at $72.06 on Friday. The Trade Desk, Inc. has a 1 year low of $71.61 and a 1 year high of $141.53. The stock’s 50 day moving average price is $115.27 and its 200 day moving average price is $115.09. The firm has a market cap of $35.57 billion, a P/E ratio of 92.38, a PEG ratio of 3.11 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share (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, research analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk declared that its board has approved a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the transaction, the insider now directly owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 704,229 shares in the company, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,029 shares of company stock valued at $5,004,296. 9.72% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TTD has been the topic of several recent research reports. Evercore ISI cut Trade Desk from an “outperform” rating to an “inline” rating and dropped their price target for the company from $135.00 to $90.00 in a research report on Thursday, February 13th. BMO Capital Markets dropped their price target on Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Susquehanna dropped their price target on Trade Desk from $150.00 to $135.00 and set a “positive” rating on the stock in a research report on Thursday, February 13th. Cantor Fitzgerald dropped their price target on Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Finally, Scotiabank dropped their price target on 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. One equities research 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 assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.