Jacobs Levy Equity Management Inc. Has $58.10 Million Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Jacobs Levy Equity Management Inc. raised its position in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 11.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 494,313 shares of the technology company's stock after buying an additional 49,697 shares during the period. Jacobs Levy Equity Management Inc. owned 0.10% of Trade Desk worth $58,097,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Trade Desk during the fourth quarter worth approximately $524,187,000. Brown Advisory Inc. raised its stake in shares of Trade Desk by 3,037.0% during the fourth quarter. Brown Advisory Inc. now owns 2,714,955 shares of the technology company's stock worth $319,089,000 after buying an additional 2,628,409 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Trade Desk during the fourth quarter worth approximately $231,570,000. Franklin Resources Inc. raised its stake in shares of Trade Desk by 265.9% during the fourth quarter. Franklin Resources Inc. now owns 1,864,386 shares of the technology company's stock worth $219,121,000 after buying an additional 1,354,891 shares during the last quarter. Finally, FMR LLC raised its stake in shares of Trade Desk by 44.8% during the fourth quarter. FMR LLC now owns 3,788,285 shares of the technology company's stock worth $445,237,000 after buying an additional 1,172,082 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Stock Performance

NASDAQ:TTD traded up $8.36 during mid-day trading on Monday, hitting $79.40. The stock had a trading volume of 32,452,875 shares, compared to its average volume of 5,868,036. The Trade Desk, Inc. has a twelve month low of $42.96 and a twelve month high of $141.53. The stock has a market cap of $39.39 billion, a price-to-earnings ratio of 101.79, a PEG ratio of 3.11 and a beta of 1.29. The company's 50 day simple moving average is $54.88 and its 200 day simple moving average is $94.71.

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 (EPS) 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 during the quarter, compared to the consensus estimate of $575.62 million. During the same period last year, the business posted $0.26 EPS. Trade Desk's revenue was up 25.4% on a year-over-year basis. As a group, equities analysts forecast 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 stock buyback program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada dropped 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 note on Friday, May 2nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $84.00 target price on shares of Trade Desk in a research note on Friday. Guggenheim lowered their target price on shares of Trade Desk from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Friday. UBS Group lowered their target price on shares of Trade Desk from $116.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Finally, HSBC set a $75.00 target price on shares of Trade Desk and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Seven equities research 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, the stock has an average rating of "Moderate Buy" and an average price target of $98.88.

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.