ProShare Advisors LLC Increases Position in The Trade Desk, Inc. (NASDAQ:TTD)

ProShare Advisors LLC lifted its position in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 22.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 514,785 shares of the technology company's stock after purchasing an additional 94,931 shares during the period. ProShare Advisors LLC owned about 0.10% of Trade Desk worth $60,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Investment Advisors LLC bought a new position in Trade Desk during the fourth quarter valued at $214,000. Wedmont Private Capital lifted its position in Trade Desk by 3.9% during the fourth quarter. Wedmont Private Capital now owns 3,781 shares of the technology company's stock valued at $449,000 after purchasing an additional 143 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Trade Desk by 276.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company's stock valued at $8,255,000 after purchasing an additional 51,603 shares during the last quarter. Kathmere Capital Management LLC lifted its position in Trade Desk by 13.5% during the fourth quarter. Kathmere Capital Management LLC now owns 2,324 shares of the technology company's stock valued at $273,000 after purchasing an additional 277 shares during the last quarter. Finally, Park Avenue Securities LLC lifted its position in Trade Desk by 15.8% during the fourth quarter. Park Avenue Securities LLC now owns 39,519 shares of the technology company's stock valued at $4,645,000 after purchasing an additional 5,405 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TTD has been the subject of several analyst reports. Loop Capital lowered their target price on shares of Trade Desk from $145.00 to $101.00 and set a "buy" rating for the company in a report on Thursday, February 20th. DA Davidson lowered their target price on shares of Trade Desk from $103.00 to $92.00 and set a "buy" rating for the company in a report on Friday, May 9th. 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 report on Friday, May 9th. Scotiabank reduced their price target on shares of Trade Desk from $133.00 to $83.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 13th. Finally, Susquehanna reduced their price target on shares of Trade Desk from $150.00 to $135.00 and set a "positive" rating on the stock in a research note on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $98.88.

Insider Activity

In other Trade Desk news, 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 completion of the sale, the chief executive officer now directly owns 17,018 shares of the company's stock, valued at approximately $1,361,950.54. The trade was a 61.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David B. Wells sold 28,638 shares of the company'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 value of $2,287,603.44. Following the completion of the transaction, the director now directly owns 66,985 shares of the company's stock, valued at approximately $5,350,761.80. This represents a 29.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.74% of the stock is owned by company insiders.

Trade Desk Stock Down 2.1%

TTD opened at $77.50 on Friday. The Trade Desk, Inc. has a 12-month low of $42.96 and a 12-month high of $141.53. The stock has a market cap of $38.45 billion, a price-to-earnings ratio of 99.36, a PEG ratio of 3.11 and a beta of 1.29. The business has a 50 day moving average of $55.77 and a 200-day moving average of $94.21.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings results 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 return on equity of 16.38% and a net margin of 16.08%. The business had revenue of $616.02 million during the quarter, compared to analysts' expectations of $575.62 million. During the same period last year, the firm posted $0.26 EPS. The firm's revenue for the quarter was up 25.4% compared to the same quarter last year. As a group, analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

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

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.

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