Man Group plc Has $8.18 Million Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Man Group plc boosted its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 136.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 69,590 shares of the technology company's stock after acquiring an additional 40,104 shares during the quarter. Man Group plc's holdings in Trade Desk were worth $8,179,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Rialto Wealth Management LLC purchased a new stake in shares of Trade Desk during the fourth quarter worth $26,000. Harbor Investment Advisory LLC raised its stake in shares of Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company's stock worth $34,000 after purchasing an additional 117 shares in the last quarter. Midwest Capital Advisors LLC acquired a new stake in shares of Trade Desk during the 4th quarter valued at about $34,000. Zions Bancorporation N.A. grew its stake in shares of Trade Desk by 148.3% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock valued at $34,000 after buying an additional 175 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new position in Trade Desk in the fourth quarter worth approximately $35,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 26,684 shares of the firm'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 approximately $1,361,950.54. This trade represents a 61.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David B. Wells sold 28,638 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the sale, the director now owns 66,985 shares in the company, valued at approximately $5,350,761.80. The trade was a 29.95% decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.74% of the company's stock.

Trade Desk Stock Performance

TTD opened at $76.32 on Tuesday. The stock has a market capitalization of $37.86 billion, a P/E ratio of 97.85, a P/E/G ratio of 3.11 and a beta of 1.29. The company's 50-day simple moving average is $56.44 and its two-hundred day simple moving average is $93.21. 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 issued its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 earnings per share 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 for the quarter, compared to analysts' expectations of $575.62 million. During the same quarter in the prior year, the business earned $0.26 EPS. The business's quarterly revenue was up 25.4% on a year-over-year basis. Research analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its board has authorized a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in shares. This repurchase authorization allows the technology company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have commented on TTD. Jefferies Financial Group set a $125.00 target price on shares of Trade Desk and gave the stock a "buy" rating in a research report on Tuesday, April 29th. JMP Securities decreased their price objective on shares of Trade Desk from $115.00 to $100.00 and set a "market outperform" rating for the company in a report on Friday, May 9th. Rosenblatt Securities assumed coverage on shares of Trade Desk in a research report on Tuesday, April 29th. They set a "buy" rating and a $77.00 target price on the stock. Evercore ISI cut Trade Desk from an "outperform" rating to an "inline" rating and reduced their price target for the stock from $135.00 to $90.00 in a research report on Thursday, February 13th. Finally, KeyCorp upped their price target on Trade Desk from $67.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Seven 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 an average rating of "Moderate Buy" and a consensus target price 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.

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