Mackenzie Financial Corp Purchases 20,498 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Mackenzie Financial Corp grew its stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 58.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 55,648 shares of the technology company's stock after purchasing an additional 20,498 shares during the quarter. Mackenzie Financial Corp's holdings in Trade Desk were worth $6,540,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of TTD. Investment Management Corp VA ADV acquired a new stake in Trade Desk during the fourth quarter worth about $25,000. Rialto Wealth Management LLC acquired a new stake in shares of Trade Desk in the fourth quarter valued at approximately $26,000. Synergy Asset Management LLC acquired a new stake in shares of Trade Desk in the fourth quarter valued at approximately $34,000. Midwest Capital Advisors LLC acquired a new stake in shares of Trade Desk in the fourth quarter valued at approximately $34,000. Finally, Zions Bancorporation N.A. increased 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 valued at $34,000 after purchasing an additional 175 shares during the period. Institutional investors and hedge funds own 67.77% of the company's stock.

Insider Activity at Trade Desk

In related news, Director David B. Wells sold 28,638 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director now directly owns 66,985 shares of the company's stock, valued at $5,350,761.80. The trade was a 29.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jeffrey Terry Green sold 26,684 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 17,018 shares of the company's stock, valued at approximately $1,361,950.54. This trade represents a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.72% of the stock is currently owned by insiders.

Trade Desk Price Performance

Shares of Trade Desk stock traded down $0.92 during trading on Friday, hitting $73.96. 6,878,665 shares of the company's stock traded hands, compared to its average volume of 6,037,489. The firm's fifty day moving average price is $59.81 and its 200 day moving average price is $90.51. The Trade Desk, Inc. has a twelve month low of $42.96 and a twelve month high of $141.53. The company has a market cap of $36.69 billion, a PE ratio of 94.82, a PEG ratio of 3.11 and a beta of 1.29.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, beating 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 business had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. During the same period in the previous year, the business earned $0.26 EPS. The firm's revenue was up 25.4% on a year-over-year basis. As a group, equities research analysts anticipate 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 approved a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. UBS Group decreased their price objective on shares of Trade Desk from $116.00 to $80.00 and set a "buy" rating for the company in a report on Friday, April 11th. Royal Bank of Canada reduced their price target on shares of Trade Desk from $100.00 to $85.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Susquehanna reduced their price target on shares of Trade Desk from $150.00 to $135.00 and set a "positive" rating for the company in a research report on Thursday, February 13th. Loop Capital cut their target price on shares of Trade Desk from $145.00 to $101.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $86.00 price objective (up previously from $80.00) on shares of Trade Desk in a research note on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $97.12.

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.