Investment Management Corp of Ontario Has $2.31 Million Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Investment Management Corp of Ontario boosted its holdings in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 32.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,665 shares of the technology company's stock after buying an additional 4,801 shares during the quarter. Investment Management Corp of Ontario's holdings in Trade Desk were worth $2,311,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in TTD. Rialto Wealth Management LLC acquired a new stake in shares of Trade Desk during the 4th quarter valued at $26,000. Harbor Investment Advisory LLC boosted 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 valued at $34,000 after buying an additional 117 shares during the period. Midwest Capital Advisors LLC acquired a new stake in shares of Trade Desk during the 4th quarter valued at $34,000. Zions Bancorporation N.A. boosted its stake in shares of 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 buying an additional 175 shares during the period. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Trade Desk during the 4th quarter valued at $35,000. Institutional investors and hedge funds own 67.77% of the company's stock.

Trade Desk Stock Up 1.3%

NASDAQ:TTD traded up $1.00 on Wednesday, reaching $79.14. The stock had a trading volume of 11,969,226 shares, compared to its average volume of 5,949,240. The company has a market capitalization of $39.26 billion, a P/E ratio of 101.46, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29. The Trade Desk, Inc. has a 1-year low of $42.96 and a 1-year high of $141.53. The stock has a fifty day moving average price of $55.42 and a 200-day moving average price of $94.49.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $575.62 million. During the same period in the previous year, the business earned $0.26 earnings per share. The company's revenue for the quarter was up 25.4% compared to the same quarter last year. Sell-side analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding 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 usually an indication that the company's board believes its shares are undervalued.

Insider Activity

In other news, CEO Jeffrey Terry Green sold 26,684 shares of the 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 directly owns 17,018 shares of the company's stock, valued at $1,361,950.54. This represents a 61.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.74% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Scotiabank reduced their price objective on shares of Trade Desk from $133.00 to $83.00 and set a "sector perform" rating for the company in a research note on Thursday, February 13th. Cantor Fitzgerald reduced their price objective on shares of Trade Desk from $115.00 to $100.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Stifel Nicolaus reduced their price objective on shares of Trade Desk from $122.00 to $87.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. JMP Securities reduced 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 research note on Friday, May 9th. Finally, Citigroup lifted their target price on shares of Trade Desk from $63.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat, Trade Desk currently has a consensus rating of "Moderate Buy" and an average target price 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.