Canada Pension Plan Investment Board Increases Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Canada Pension Plan Investment Board grew its position in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 374.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 290,418 shares of the technology company's stock after purchasing an additional 229,196 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.06% of Trade Desk worth $34,133,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of TTD. Rialto Wealth Management LLC acquired a new position in Trade Desk during the 4th quarter worth $26,000. Harbor Investment Advisory LLC raised its holdings in shares of Trade Desk by 68.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company's stock valued at $34,000 after buying an additional 117 shares during the last quarter. Synergy Asset Management LLC acquired a new position in shares of Trade Desk in the fourth quarter valued at approximately $34,000. Midwest Capital Advisors LLC purchased a new position in Trade Desk during the 4th quarter worth $34,000. Finally, Zions Bancorporation N.A. raised its stake in shares of Trade Desk by 148.3% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock worth $34,000 after buying an additional 175 shares in the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Trade Desk Price Performance

Shares of NASDAQ TTD traded up $0.64 during trading on Friday, reaching $53.91. 2,952,087 shares of the stock traded hands, compared to its average volume of 5,342,270. The stock has a market capitalization of $26.75 billion, a P/E ratio of 69.20, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56. The Trade Desk, Inc. has a 52-week low of $42.96 and a 52-week high of $141.53. The company has a 50-day moving average of $58.22 and a 200-day moving average of $99.92.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its earnings results 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%. Analysts expect 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 plan on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 0.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Samantha Jacobson sold 4,298 shares of the business's stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the sale, the insider now directly owns 90,709 shares in the company, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 9.72% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on TTD shares. Loop Capital decreased their price target on shares of Trade Desk from $145.00 to $101.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Jefferies Financial Group dropped their price target on shares of Trade Desk from $120.00 to $75.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Benchmark upgraded shares of Trade Desk from a "sell" rating to a "hold" rating in a research report on Friday, March 7th. Cantor Fitzgerald lowered their price target on Trade Desk from $115.00 to $100.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Finally, KeyCorp reduced their target price on Trade Desk from $74.00 to $67.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $101.34.

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.