Twinbeech Capital LP Buys New Shares in The Trade Desk, Inc. (NASDAQ:TTD)

Twinbeech Capital LP acquired a new position in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 188,206 shares of the technology company's stock, valued at approximately $22,120,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Lyell Wealth Management LP grew its stake in shares of Trade Desk by 24.3% during the 4th quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company's stock valued at $11,558,000 after acquiring an additional 19,204 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Trade Desk by 276.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company's stock worth $8,255,000 after purchasing an additional 51,603 shares during the period. Yousif Capital Management LLC boosted its position in shares of Trade Desk by 5.4% in the fourth quarter. Yousif Capital Management LLC now owns 5,856 shares of the technology company's stock worth $688,000 after purchasing an additional 300 shares during the period. Allworth Financial LP increased its stake in shares of Trade Desk by 46.3% in the fourth quarter. Allworth Financial LP now owns 5,470 shares of the technology company's stock worth $660,000 after purchasing an additional 1,732 shares in the last quarter. Finally, Cherry Creek Investment Advisors Inc. raised its position in shares of Trade Desk by 10.3% during the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 52,144 shares of the technology company's stock valued at $6,128,000 after purchasing an additional 4,878 shares during the period. Hedge funds and other institutional investors own 67.77% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Cfra Research raised Trade Desk to a "moderate buy" rating in a report on Tuesday, March 25th. Loop Capital reduced their price objective on shares of Trade Desk from $145.00 to $101.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Oppenheimer boosted their price target on shares of Trade Desk from $75.00 to $80.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Robert W. Baird cut their price objective on Trade Desk from $160.00 to $145.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Finally, Guggenheim decreased their price target on shares of Trade Desk from $110.00 to $90.00 and set a "buy" rating on the stock 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. According to MarketBeat, Trade Desk has an average rating of "Moderate Buy" and an average price target of $97.12.

Insider Transactions at Trade Desk

In other Trade Desk news, Director David B. Wells sold 28,638 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total value of $2,287,603.44. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey Terry Green sold 26,684 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $80.03, for a total value 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 position. The disclosure for this sale can be found here. Insiders own 9.74% of the company's stock.

Trade Desk Price Performance

NASDAQ TTD traded up $0.74 during trading on Tuesday, reaching $77.06. 4,906,477 shares of the company's stock traded hands, compared to its average volume of 5,943,731. The Trade Desk, Inc. has a 12-month low of $42.96 and a 12-month high of $141.53. The firm has a market cap of $38.23 billion, a price-to-earnings ratio of 98.79, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29. The company's 50 day simple moving average is $56.90 and its two-hundred day simple moving average is $93.10.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. The business had revenue of $616.02 million for the quarter, compared to the consensus estimate of $575.62 million. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The business's revenue was up 25.4% compared to the same quarter last year. During the same period last year, the business posted $0.26 EPS. Research analysts expect 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 repurchase program on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are 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.