Gotham Asset Management LLC Acquires 5,187 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Gotham Asset Management LLC boosted its stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 133.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,061 shares of the technology company's stock after purchasing an additional 5,187 shares during the period. Gotham Asset Management LLC's holdings in Trade Desk were worth $1,065,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of TTD. Assenagon Asset Management S.A. raised its stake in Trade Desk by 276.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company's stock worth $8,255,000 after buying an additional 51,603 shares during the period. Hennion & Walsh Asset Management Inc. raised its position in shares of Trade Desk by 32.2% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 2,898 shares of the technology company's stock worth $341,000 after purchasing an additional 706 shares during the period. Avanza Fonder AB bought a new stake in Trade Desk during the 4th quarter valued at $1,117,000. Merit Financial Group LLC increased its stake in Trade Desk by 16.8% during the 4th quarter. Merit Financial Group LLC now owns 6,870 shares of the technology company's stock valued at $807,000 after purchasing an additional 989 shares in the last quarter. Finally, Arthur M. Cohen & Associates LLC lifted its stake in shares of Trade Desk by 18.4% in the fourth quarter. Arthur M. Cohen & Associates LLC now owns 6,435 shares of the technology company's stock valued at $756,000 after buying an additional 1,000 shares in the last quarter. 67.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on TTD. Citigroup lifted their price target on Trade Desk from $63.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Truist Financial lifted their target price on Trade Desk from $95.00 to $100.00 and gave the company a "buy" rating in a research report on Friday, May 9th. BMO Capital Markets lowered their price target 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. Benchmark upgraded Trade Desk from a "sell" rating to a "hold" rating in a research note on Friday, March 7th. Finally, KeyCorp lifted their target price on shares of Trade Desk from $67.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat, Trade Desk currently has a consensus rating of "Moderate Buy" and an average price target of $97.12.

Trade Desk Stock Performance

Trade Desk stock traded up $0.01 during midday trading on Monday, reaching $76.32. 4,813,218 shares of the stock were exchanged, compared to its average volume of 5,939,220. The company's fifty day moving average is $56.12 and its 200-day moving average is $93.51. The firm has a market cap of $37.86 billion, a PE ratio of 97.85, a PEG ratio of 3.11 and a beta of 1.29. The Trade Desk, Inc. has a 52 week low of $42.96 and a 52 week high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The business had revenue of $616.02 million during the quarter, compared to analysts' expectations of $575.62 million. During the same period in the previous year, the business earned $0.26 earnings per share. The firm's revenue was up 25.4% on a year-over-year basis. On average, sell-side 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 has approved a share buyback plan on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its stock is undervalued.

Insider Activity at Trade Desk

In related news, Director David B. Wells sold 28,638 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the transaction, the director now owns 66,985 shares of the company's stock, valued at approximately $5,350,761.80. This trade represents a 29.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey Terry Green sold 26,684 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the completion of the sale, the chief executive officer now directly owns 17,018 shares of the company's stock, valued at $1,361,950.54. This represents a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by insiders.

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.