ProShare Advisors LLC Purchases 94,931 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

ProShare Advisors LLC boosted its position in The Trade Desk, Inc. (NASDAQ:TTD) by 22.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 514,785 shares of the technology company’s stock after acquiring an additional 94,931 shares during the quarter. ProShare Advisors LLC’s holdings in Trade Desk were worth $60,503,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in TTD. Capital Investment Advisors LLC bought a new position in Trade Desk in the fourth quarter valued at $214,000. Wedmont Private Capital grew its stake in shares of 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 buying an additional 143 shares during the last quarter. 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. Kathmere Capital Management LLC grew its stake in shares of 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 buying an additional 277 shares during the last quarter. Finally, Park Avenue Securities LLC grew its stake in shares of 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 buying an additional 5,405 shares during the last quarter. Institutional investors own 67.77% of the company’s stock.

Insider Activity

In other Trade Desk news, Director David B. Wells sold 28,638 shares of the business’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the sale, the director now owns 66,985 shares in the company, valued at approximately $5,350,761.80. The trade was a 29.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 26,684 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $80.03, for a total value of $2,135,520.52. Following the completion of the transaction, the chief executive officer now owns 17,018 shares in the company, valued at $1,361,950.54. This represents a 61.06% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.74% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TTD. Guggenheim reduced their price objective on Trade Desk from $110.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Morgan Stanley raised their target price on Trade Desk from $60.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. KeyCorp raised their target price on Trade Desk from $67.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Oppenheimer raised their target price on Trade Desk from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, May 9th. Finally, Cantor Fitzgerald cut their target price on Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat, Trade Desk currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.88.

Trade Desk Trading Down 2.1%

Shares of NASDAQ:TTD opened at $77.50 on Friday. The company has a fifty day simple moving average of $55.77 and a 200 day simple moving average of $94.21. The firm has a market cap of $38.45 billion, a PE ratio of 99.36, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29. The Trade Desk, Inc. has a 12-month low of $42.96 and a 12-month high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping 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 business had revenue of $616.02 million during the quarter, compared to analyst estimates of $575.62 million. During the same quarter in the previous year, the firm earned $0.26 earnings per share. The business’s revenue was up 25.4% compared to the same quarter last year. As a group, equities research analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its board has approved a share repurchase program on Wednesday, February 12th that permits the company to repurchase $564.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 0.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is 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.