Jericho Capital Asset Management L.P. Buys 1,884,000 Shares of The Trade Desk $TTD

Key Points

• Jericho Capital Asset Management boosted its stake in The Trade Desk by 86.3%, acquiring 1,884,000 additional shares to hold 4,067,000 shares (about 0.84% of the company) worth roughly $199.3 million, making TTD its 19th-largest position and ~2.1% of its portfolio.
• The Trade Desk reported Q results with EPS of $0.59 (in line) and revenue of $846.79 million, up 14.3% year-over-year, and its board approved a $350 million share buyback program (roughly 2.9% of shares outstanding).
• Director Kathryn E. Falberg sold 102,828 shares for about $3.13 million on March 5, cutting her ownership by 98.14%; overall, institutions own 67.77% of TTD while insiders hold 10.00%.

Jericho Capital Asset Management L.P. raised its stake in The Trade Desk (NASDAQ:TTD - Free Report) by 86.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,067,000 shares of the technology company's stock after acquiring an additional 1,884,000 shares during the period. Trade Desk comprises about 2.1% of Jericho Capital Asset Management L.P.'s investment portfolio, making the stock its 19th largest position. Jericho Capital Asset Management L.P. owned 0.84% of Trade Desk worth $199,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in TTD. Vanguard Group Inc. lifted its position in Trade Desk by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 44,554,852 shares of the technology company's stock valued at $3,207,504,000 after purchasing an additional 317,107 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in Trade Desk by 327.3% in the second quarter. Nomura Asset Management Co. Ltd. now owns 1,121,436 shares of the technology company's stock valued at $80,732,000 after acquiring an additional 858,978 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Trade Desk by 62.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 173,743 shares of the technology company's stock valued at $8,515,000 after acquiring an additional 66,672 shares during the last quarter. Jacobson & Schmitt Advisors LLC grew its holdings in Trade Desk by 19.6% during the 3rd quarter. Jacobson & Schmitt Advisors LLC now owns 289,574 shares of the technology company's stock worth $14,192,000 after acquiring an additional 47,539 shares during the period. Finally, Panagora Asset Management Inc. raised its position in shares of Trade Desk by 22.9% during the 2nd quarter. Panagora Asset Management Inc. now owns 996,787 shares of the technology company's stock valued at $71,759,000 after acquiring an additional 185,552 shares during the last quarter. 67.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Trade Desk news, Director Kathryn E. Falberg sold 102,828 shares of the company's stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $30.45, for a total value of $3,131,112.60. Following the transaction, the director directly owned 1,946 shares in the company, valued at $59,255.70. The trade was a 98.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 10.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wedbush reissued an "underperform" rating and set a $23.00 price objective on shares of Trade Desk in a research note on Friday, March 6th. Cfra reiterated a "hold" rating and issued a $40.00 target price on shares of Trade Desk in a report on Tuesday, January 27th. Scotiabank reissued a "sector perform" rating and issued a $32.00 price target (down from $60.00) on shares of Trade Desk in a report on Thursday, February 26th. Rosenblatt Securities lowered their price objective on shares of Trade Desk from $53.00 to $36.00 and set a "buy" rating for the company in a research report on Thursday, February 26th. Finally, Needham & Company LLC dropped their price objective on Trade Desk from $60.00 to $32.00 and set a "buy" rating on the stock in a research note on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, fifteen have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $43.45.

Trade Desk Stock Up 3.1%

Shares of NASDAQ TTD opened at $27.34 on Monday. The business's 50 day moving average price is $30.11 and its two-hundred day moving average price is $39.92. The company has a market cap of $13.22 billion, a PE ratio of 30.38, a price-to-earnings-growth ratio of 1.08 and a beta of 1.13. The Trade Desk has a twelve month low of $21.08 and a twelve month high of $91.45.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its earnings results on Wednesday, February 25th. The technology company reported $0.59 EPS for the quarter, hitting the consensus estimate of $0.59. Trade Desk had a return on equity of 16.89% and a net margin of 15.31%.The company had revenue of $846.79 million during the quarter, compared to the consensus estimate of $840.56 million. During the same period in the previous year, the company posted $0.59 EPS. The firm's revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, research analysts anticipate that The Trade Desk will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 25th that authorizes the company to buyback $350.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 2.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.

About Trade Desk

The Trade Desk, Inc NASDAQ: TTD is a technology company that provides a demand-side platform (DSP) for programmatic digital advertising. Its platform enables advertisers, agencies and other buyers to plan, purchase and measure ad inventory across digital channels, including display, video, mobile, audio, native and connected TV. By centralizing real‑time bidding, audience targeting and inventory access, the company aims to help clients optimize media spend and reach audiences at scale across publishers and ad exchanges.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk grew from a focus on programmatic display into a global ad‑tech provider.

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