Caisse DE Depot ET Placement DU Quebec Increases Position in The Trade Desk, Inc. (NASDAQ:TTD)

Caisse DE Depot ET Placement DU Quebec grew its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 90.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 178,209 shares of the technology company's stock after acquiring an additional 84,767 shares during the quarter. Caisse DE Depot ET Placement DU Quebec's holdings in Trade Desk were worth $20,945,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Rialto Wealth Management LLC purchased a new position in shares of Trade Desk in the fourth quarter worth $26,000. Harbor Investment Advisory LLC raised its position in Trade Desk by 68.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company's stock worth $34,000 after buying an additional 117 shares during the last quarter. Synergy Asset Management LLC bought a new position in Trade Desk during the 4th quarter valued at about $34,000. Midwest Capital Advisors LLC purchased a new stake in shares of Trade Desk during the 4th quarter valued at about $34,000. Finally, Zions Bancorporation N.A. grew its stake 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 worth $34,000 after acquiring an additional 175 shares during the period. Hedge funds and other institutional investors own 67.77% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Cantor Fitzgerald dropped their target price on shares of Trade Desk from $115.00 to $100.00 and set a "neutral" rating on the stock in a report on Thursday, February 13th. BMO Capital Markets reduced their price objective on Trade Desk from $160.00 to $115.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Loop Capital dropped their target price on Trade Desk from $145.00 to $101.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Evercore ISI downgraded Trade Desk from an "outperform" rating to an "inline" rating and cut their price target for the company from $135.00 to $90.00 in a research note on Thursday, February 13th. Finally, Truist Financial dropped their price objective on shares of Trade Desk from $130.00 to $95.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $100.84.

Trade Desk Price Performance

Shares of Trade Desk stock traded up $1.41 during trading hours on Monday, reaching $55.50. The company's stock had a trading volume of 11,715,085 shares, compared to its average volume of 5,476,542. The firm has a 50 day moving average price of $55.29 and a 200-day moving average price of $96.60. The stock has a market cap of $27.53 billion, a P/E ratio of 71.15, a P/E/G ratio of 3.11 and a beta of 1.29. The Trade Desk, Inc. has a one year low of $42.96 and a one year high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share 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%. As a group, sell-side analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management 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.