Lansforsakringar Fondforvaltning AB publ Makes New Investment in The Trade Desk, Inc. (NASDAQ:TTD)

Lansforsakringar Fondforvaltning AB publ bought a new stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 146,141 shares of the technology company's stock, valued at approximately $17,176,000.

A number of other hedge funds have also recently made changes to their positions in the company. Investment Management Corp VA ADV acquired a new stake in Trade Desk during the 4th quarter worth approximately $25,000. Rialto Wealth Management LLC acquired a new position in shares of Trade Desk during the fourth quarter worth $26,000. Synergy Asset Management LLC bought a new stake in shares of Trade Desk in the fourth quarter worth $34,000. Midwest Capital Advisors LLC acquired a new stake in Trade Desk in the fourth quarter valued at $34,000. Finally, Zions Bancorporation N.A. increased its holdings in 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 during the period. 67.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Citigroup raised their price objective on Trade Desk from $63.00 to $82.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Benchmark raised shares of Trade Desk from a "sell" rating to a "hold" rating in a research report on Friday, March 7th. UBS Group dropped their price target on shares of Trade Desk from $116.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Cfra Research raised shares of Trade Desk to a "moderate buy" rating in a research note on Tuesday, March 25th. Finally, Macquarie boosted their target price on shares of Trade Desk from $90.00 to $92.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Seven analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat, Trade Desk currently has a consensus rating of "Moderate Buy" and an average price target of $97.12.

Insider Transactions at Trade Desk

In related news, Director David B. Wells sold 28,638 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total value of $2,287,603.44. Following the transaction, the director now directly owns 66,985 shares of the company's stock, valued at approximately $5,350,761.80. The trade was a 29.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey Terry Green sold 26,684 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the sale, the chief executive officer now owns 17,018 shares in the company, valued at $1,361,950.54. The trade was a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.72% of the company's stock.

Trade Desk Trading Down 1.2%

Shares of NASDAQ:TTD traded down $0.92 during mid-day trading on Friday, hitting $73.96. 6,878,665 shares of the company traded hands, compared to its average volume of 6,039,785. The stock has a market cap of $36.69 billion, a P/E ratio of 94.82, a P/E/G ratio of 3.11 and a beta of 1.29. The stock has a 50-day moving average price of $59.58 and a two-hundred day moving average price of $90.90. The Trade Desk, Inc. has a 12-month low of $42.96 and a 12-month 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The firm had revenue of $616.02 million during the quarter, compared to analyst estimates of $575.62 million. During the same quarter in the prior year, the business posted $0.26 EPS. The business's revenue was up 25.4% compared to the same quarter last year. As a group, analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its Board of Directors has initiated a share buyback 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 buy up to 0.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board 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.