51,300 Shares in The Trade Desk, Inc. (NASDAQ:TTD) Bought by Atika Capital Management LLC

Atika Capital Management LLC acquired a new stake in The Trade Desk, Inc. (NASDAQ:TTD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 51,300 shares of the technology company’s stock, valued at approximately $6,029,000.

A number of other large investors also recently bought and sold shares of TTD. Russell Investments Group Ltd. raised its holdings in Trade Desk by 83.1% during the fourth quarter. Russell Investments Group Ltd. now owns 499,602 shares of the technology company’s stock worth $59,175,000 after purchasing an additional 226,773 shares in the last quarter. Wedbush Securities Inc. raised its stake in shares of Trade Desk by 4.3% during the 4th quarter. Wedbush Securities Inc. now owns 21,363 shares of the technology company’s stock worth $2,511,000 after buying an additional 873 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Trade Desk by 16.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 877,984 shares of the technology company’s stock valued at $103,189,000 after buying an additional 125,440 shares during the period. Aviva PLC boosted its stake in shares of Trade Desk by 51.7% in the fourth quarter. Aviva PLC now owns 270,135 shares of the technology company’s stock valued at $31,749,000 after buying an additional 92,110 shares in the last quarter. Finally, Oarsman Capital Inc. grew its holdings in Trade Desk by 93.4% during the fourth quarter. Oarsman Capital Inc. now owns 1,766 shares of the technology company’s stock worth $208,000 after acquiring an additional 853 shares during the period. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TTD shares. Truist Financial decreased their target price on shares of Trade Desk from $155.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Oppenheimer decreased their price objective on shares of Trade Desk from $135.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Loop Capital dropped their target price on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Jefferies Financial Group decreased their price target on Trade Desk from $120.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Citigroup dropped their price objective on Trade Desk from $140.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Trade Desk presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.38.

Insider Buying and Selling

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the completion of the sale, the chief executive officer now owns 704,229 shares of the company’s stock, valued at $88,338,485.76. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the transaction, the insider now owns 90,709 shares in the company, valued at $10,754,459.04. The trade was a 4.52 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.72% of the company’s stock.

Trade Desk Price Performance

TTD opened at $46.24 on Friday. The Trade Desk, Inc. has a 12 month low of $45.02 and a 12 month high of $141.53. The business has a 50-day moving average of $78.11 and a two-hundred day moving average of $106.55. The stock has a market capitalization of $22.94 billion, a price-to-earnings ratio of 59.28, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56.

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

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