The Trade Desk, Inc. (NASDAQ:TTD) Stock Position Lifted by Voloridge Investment Management LLC

Voloridge Investment Management LLC increased its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 43.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 898,250 shares of the technology company’s stock after purchasing an additional 272,416 shares during the period. Voloridge Investment Management LLC owned 0.18% of Trade Desk worth $105,571,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Trade Desk by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company’s stock worth $5,015,035,000 after purchasing an additional 253,137 shares during the last quarter. Invesco Ltd. raised its stake in Trade Desk by 2.6% during the 4th quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company’s stock valued at $930,477,000 after acquiring an additional 198,822 shares in the last quarter. Norges Bank bought a new stake in Trade Desk during the 4th quarter valued at $524,187,000. FMR LLC raised its stake in Trade Desk by 44.8% during the 4th quarter. FMR LLC now owns 3,788,285 shares of the technology company’s stock valued at $445,237,000 after acquiring an additional 1,172,082 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in Trade Desk by 13.2% during the 4th quarter. Bank of America Corp DE now owns 3,591,849 shares of the technology company’s stock valued at $422,150,000 after acquiring an additional 418,911 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

Insider Activity at Trade Desk

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 value of $2,287,603.44. Following the completion of the sale, the director now owns 66,985 shares of the company’s stock, valued at $5,350,761.80. The trade was a 29.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey Terry Green sold 26,684 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $80.03, for a total value of $2,135,520.52. Following the completion of the sale, the chief executive officer now directly owns 17,018 shares of the company’s stock, valued at $1,361,950.54. This represents a 61.06% decrease in their position. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

Analysts Set New Price Targets

TTD has been the topic of several recent analyst reports. Citizens Jmp cut their target price on Trade Desk from $115.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, May 9th. Scotiabank cut their target price on Trade Desk from $133.00 to $83.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Macquarie lifted their target price on Trade Desk from $90.00 to $92.00 and gave the company an “outperform” rating in a research note on Monday. Benchmark upgraded Trade Desk from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $84.00 price target on shares of Trade Desk in a research report on Thursday, May 15th. Seven analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat, Trade Desk has an average rating of “Moderate Buy” and an average price target of $97.12.

Trade Desk Trading Up 0.0%

Shares of TTD stock opened at $76.32 on Tuesday. The Trade Desk, Inc. has a 1-year low of $42.96 and a 1-year high of $141.53. The company has a market capitalization of $37.86 billion, a price-to-earnings ratio of 97.85, a P/E/G ratio of 3.11 and a beta of 1.29. The stock’s fifty day simple moving average is $56.44 and its 200-day simple moving average is $93.21.

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

Trade Desk announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors 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.