Nuveen Asset Management LLC Has $334.26 Million Position in The Trade Desk, Inc. (NASDAQ:TTD)

Nuveen Asset Management LLC grew its position in The Trade Desk, Inc. (NASDAQ:TTD) by 22.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,844,036 shares of the technology company’s stock after buying an additional 523,627 shares during the period. Nuveen Asset Management LLC owned approximately 0.58% of Trade Desk worth $334,260,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Investment Advisors LLC acquired a new position in shares of Trade Desk in the fourth quarter valued at approximately $214,000. Wedmont Private Capital boosted its stake in Trade Desk by 3.9% in the 4th quarter. Wedmont Private Capital now owns 3,781 shares of the technology company’s stock worth $449,000 after purchasing an additional 143 shares during the period. Oak Thistle LLC acquired a new position in Trade Desk in the 4th quarter worth $1,489,000. Assenagon Asset Management S.A. boosted its position 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 worth $8,255,000 after buying an additional 51,603 shares during the period. Finally, Kathmere Capital Management LLC boosted its position in Trade Desk by 13.5% during the 4th quarter. Kathmere Capital Management LLC now owns 2,324 shares of the technology company’s stock worth $273,000 after acquiring an additional 277 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TTD. Citigroup upped their price target on Trade Desk from $63.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Guggenheim reduced their price objective 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, May 9th. Wells Fargo & Company reduced their price objective on shares of Trade Desk from $101.00 to $72.00 and set an “overweight” rating for the company in a research note on Monday, March 31st. 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. Finally, Royal Bank of Canada reduced their price target on Trade Desk from $100.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Seven equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Trade Desk presently has a consensus rating of “Moderate Buy” and an average target price of $98.88.

Insider Buying and Selling at Trade Desk

In other news, CEO Jeffrey Terry Green sold 26,684 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 9.74% of the company’s stock.

Trade Desk Price Performance

Shares of NASDAQ TTD opened at $79.14 on Thursday. The stock has a market capitalization of $39.26 billion, a PE ratio of 101.46, a P/E/G ratio of 3.11 and a beta of 1.29. The business has a fifty day moving average price of $55.42 and a two-hundred day moving average price of $94.49. The Trade Desk, Inc. has a fifty-two week low of $42.96 and a fifty-two week high of $141.53.

Trade Desk (NASDAQ:TTD) last posted 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. The business had revenue of $616.02 million during the quarter, compared to the consensus estimate of $575.62 million. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. Trade Desk’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 earnings per share. On average, equities analysts expect that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk declared that its Board of Directors has approved a stock buyback program on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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.