Brevan Howard Capital Management LP Invests $7.60 Million in The Trade Desk, Inc. (NASDAQ:TTD)

Brevan Howard Capital Management LP purchased a new stake in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 64,626 shares of the technology company's stock, valued at approximately $7,595,000.

Several other institutional investors have also recently added to or reduced their stakes in TTD. Rialto Wealth Management LLC bought a new stake in Trade Desk during the 4th quarter worth about $26,000. Harbor Investment Advisory LLC grew its stake in shares of Trade Desk by 68.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company's stock valued at $34,000 after purchasing an additional 117 shares during the last quarter. Midwest Capital Advisors LLC bought a new stake in shares of Trade Desk during the fourth quarter valued at approximately $34,000. Zions Bancorporation N.A. increased its holdings in shares of Trade Desk by 148.3% in the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock valued at $34,000 after purchasing an additional 175 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in Trade Desk in the 4th quarter valued at $35,000. 67.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Robert W. Baird cut their target price on shares of Trade Desk from $160.00 to $145.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Evercore ISI cut shares of Trade Desk from an "outperform" rating to an "inline" rating and reduced their price objective for the company from $135.00 to $90.00 in a research note on Thursday, February 13th. Oppenheimer increased their price target on Trade Desk from $75.00 to $80.00 and gave the company an "outperform" rating in a research note on Friday. Stifel Nicolaus decreased their price objective on Trade Desk from $122.00 to $87.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Jefferies Financial Group set a $125.00 target price on Trade Desk and gave the company a "buy" rating in a research note on Tuesday, April 29th. Seven investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat, Trade Desk currently has an average rating of "Moderate Buy" and a consensus price target of $98.88.

Trade Desk Price Performance

Shares of NASDAQ TTD traded up $11.14 during mid-day trading on Friday, hitting $71.04. 48,867,132 shares of the stock traded hands, compared to its average volume of 5,767,080. The company has a market cap of $35.24 billion, a PE ratio of 91.08, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29. The Trade Desk, Inc. has a twelve month low of $42.96 and a twelve month high of $141.53. The firm has a 50 day simple moving average of $54.55 and a two-hundred day simple moving average of $95.64.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. The firm had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The business's revenue for the quarter was up 25.4% on a year-over-year basis. During the same period last year, the firm posted $0.26 earnings per share. On average, equities research analysts anticipate 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 stock repurchase program on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

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.