Raiffeisen Bank International AG Makes New Investment in The Trade Desk, Inc. (NASDAQ:TTD)

Raiffeisen Bank International AG purchased a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 56,233 shares of the technology company’s stock, valued at approximately $6,758,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ProShare Advisors LLC grew its holdings in shares of Trade Desk by 22.6% during the fourth quarter. ProShare Advisors LLC now owns 514,785 shares of the technology company’s stock worth $60,503,000 after purchasing an additional 94,931 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Trade Desk by 11.2% in the fourth quarter. Quantinno Capital Management LP now owns 70,546 shares of the technology company’s stock valued at $8,291,000 after acquiring an additional 7,118 shares in the last quarter. Man Group plc lifted its holdings in shares of Trade Desk by 136.0% in the 4th quarter. Man Group plc now owns 69,590 shares of the technology company’s stock valued at $8,179,000 after buying an additional 40,104 shares during the period. Nissay Asset Management Corp Japan ADV lifted its holdings in shares of Trade Desk by 6.0% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 100,160 shares of the technology company’s stock valued at $12,158,000 after buying an additional 5,648 shares during the period. Finally, NorthRock Partners LLC purchased a new position in shares of Trade Desk in the 4th quarter valued at about $466,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Insider Activity at Trade Desk

In related news, CEO Jeffrey Terry Green sold 26,684 shares of the firm’s 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 transaction, the chief executive officer now owns 17,018 shares in the company, valued at $1,361,950.54. This trade represents a 61.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David B. Wells sold 28,638 shares of the firm’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 transaction of $2,287,603.44. Following the transaction, the director now owns 66,985 shares in the company, valued at $5,350,761.80. This represents a 29.95% decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on TTD shares. Loop Capital decreased their price objective on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Citigroup upped their price target on shares of Trade Desk from $63.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. HSBC set a $75.00 price target on shares of Trade Desk and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Truist Financial raised their price objective on Trade Desk from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Finally, Wedbush reissued an “outperform” rating and issued a $86.00 price objective (up from $80.00) on shares of Trade Desk in a research report on Friday, May 9th. Seven investment 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, Trade Desk has an average rating of “Moderate Buy” and an average price target of $98.88.

Trade Desk Trading Down 2.1%

Shares of Trade Desk stock opened at $77.50 on Friday. The business’s 50 day simple moving average is $55.77 and its 200-day simple moving average is $94.21. The stock has a market capitalization 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 Trade Desk, Inc. has a twelve month low of $42.96 and a twelve month high of $141.53.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07. The business had revenue of $616.02 million during the quarter, compared to analyst estimates of $575.62 million. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The company’s quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 earnings per share. Sell-side analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership 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.