First Trust Advisors LP Buys 13,422 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

First Trust Advisors LP increased its stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 2.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 606,877 shares of the technology company's stock after buying an additional 13,422 shares during the period. First Trust Advisors LP owned 0.12% of Trade Desk worth $71,326,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in TTD. Rialto Wealth Management LLC purchased a new stake in Trade Desk during the 4th quarter valued at $26,000. Harbor Investment Advisory LLC boosted its stake in Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company's stock valued at $34,000 after purchasing an additional 117 shares during the last quarter. Synergy Asset Management LLC purchased a new stake in Trade Desk during the 4th quarter valued at $34,000. Midwest Capital Advisors LLC purchased a new stake in Trade Desk during the 4th quarter valued at $34,000. Finally, Zions Bancorporation N.A. boosted its stake in Trade Desk by 148.3% during the 4th 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 last quarter. Hedge funds and other institutional investors own 67.77% of the company's stock.

Trade Desk Trading Up 1.3 %

TTD traded up $0.70 on Friday, hitting $53.97. 6,287,369 shares of the company's stock traded hands, compared to its average volume of 5,369,239. The company's 50 day simple moving average is $57.70 and its 200-day simple moving average is $99.27. The firm has a market cap of $26.77 billion, a price-to-earnings ratio of 69.19, a P/E/G ratio of 3.11 and a beta of 1.56. The Trade Desk, Inc. has a one year low of $42.96 and a one year high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. As a group, equities analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its board has initiated a share buyback program on Wednesday, February 12th that permits the company to repurchase $564.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the sale, the insider now owns 90,709 shares of the company's stock, valued at $10,754,459.04. The trade was a 4.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 9.72% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the company. KeyCorp cut their target price on Trade Desk from $74.00 to $67.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. DA Davidson cut their target price on Trade Desk from $134.00 to $103.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Robert W. Baird cut their target price on Trade Desk from $160.00 to $145.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Wedbush lifted their price objective on Trade Desk from $135.00 to $145.00 and gave the stock an "outperform" rating in a report on Monday, January 6th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $84.00 target price on shares of Trade Desk in a report on Tuesday, April 22nd. Seven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Trade Desk presently has an average rating of "Moderate Buy" and a consensus price target of $101.34.

Trade Desk Company Profile

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.