Arrowroot Family Office LLC Acquires 1,633 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Arrowroot Family Office LLC raised its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 72.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,896 shares of the technology company’s stock after buying an additional 1,633 shares during the quarter. Arrowroot Family Office LLC’s holdings in Trade Desk were worth $458,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TTD. Lyell Wealth Management LP increased its position in Trade Desk by 24.3% during the fourth 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 last quarter. Nordea Investment Management AB boosted its position in shares of Trade Desk by 36.2% during the fourth quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock valued at $159,132,000 after buying an additional 358,350 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of 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 buying an additional 51,603 shares during the last quarter. Moody National Bank Trust Division purchased a new stake in shares of Trade Desk in the fourth quarter worth approximately $985,000. Finally, Yousif Capital Management LLC boosted its holdings in Trade Desk by 5.4% during the 4th quarter. Yousif Capital Management LLC now owns 5,856 shares of the technology company’s stock valued at $688,000 after acquiring an additional 300 shares during the period. 67.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TTD shares. Rosenblatt Securities started coverage on Trade Desk in a research note on Tuesday. They issued a “buy” rating and a $77.00 target price on the stock. Loop Capital reduced their price target on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Cfra Research raised shares of Trade Desk to a “moderate buy” rating in a research report on Tuesday, March 25th. Susquehanna reduced their target price on shares of Trade Desk from $150.00 to $135.00 and set a “positive” rating on the stock in a research report on Thursday, February 13th. Finally, Truist Financial lowered their price target on Trade Desk from $130.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Trade Desk presently has an average rating of “Moderate Buy” and an average price target of $100.84.

Trade Desk Price Performance

Trade Desk stock opened at $54.09 on Friday. The business has a fifty day moving average price of $55.63 and a 200-day moving average price of $97.33. The Trade Desk, Inc. has a 1-year low of $42.96 and a 1-year high of $141.53. The stock has a market capitalization of $26.83 billion, a price-to-earnings ratio of 69.35, a PEG ratio of 3.11 and a beta of 1.29.

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

Trade Desk declared that its board has initiated a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are 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.