ARK Investment Management LLC Purchases 5,548 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

ARK Investment Management LLC boosted its position in The Trade Desk, Inc. (NASDAQ:TTD) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,271,113 shares of the technology company’s stock after purchasing an additional 5,548 shares during the quarter. Trade Desk makes up approximately 1.2% of ARK Investment Management LLC’s investment portfolio, making the stock its 24th largest holding. ARK Investment Management LLC owned about 0.26% of Trade Desk worth $149,394,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Harbor Investment Advisory LLC raised its holdings in Trade Desk by 68.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after purchasing an additional 117 shares in the last quarter. Midwest Capital Advisors LLC bought a new position in Trade Desk in the fourth quarter worth about $34,000. Exchange Traded Concepts LLC bought a new position in Trade Desk in the fourth quarter worth about $35,000. Synergy Asset Management LLC bought a new position in Trade Desk in the fourth quarter worth about $34,000. Finally, Kestra Investment Management LLC bought a new position in Trade Desk in the fourth quarter worth about $39,000. 67.77% of the stock is currently owned by institutional investors.

Insider Activity at Trade Desk

In related news, 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 value of $509,570.88. Following the sale, the insider now owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the completion of the sale, the chief executive officer now directly owns 704,229 shares in the company, valued at $88,338,485.76. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,029 shares of company stock valued at $5,004,296. 9.72% of the stock is owned by company insiders.

Trade Desk Trading Up 1.1 %

Trade Desk stock opened at $74.98 on Wednesday. The Trade Desk, Inc. has a 12 month low of $70.44 and a 12 month high of $141.53. The stock’s 50 day simple moving average is $112.90 and its two-hundred day simple moving average is $115.03. The firm has a market cap of $37.01 billion, a PE ratio of 96.13, a P/E/G ratio of 3.11 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last announced 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%. On average, equities research analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk announced that its board has initiated a share 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 buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wedbush boosted their target price on shares of Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. New Street Research upgraded shares of Trade Desk from a “sell” rating to a “neutral” rating and upped their price objective for the company from $85.00 to $115.00 in a report on Monday, November 25th. Loop Capital cut their price objective on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Needham & Company LLC restated a “buy” rating and set a $145.00 price objective on shares of Trade Desk in a report on Thursday, February 13th. Finally, Oppenheimer cut 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $119.45.

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.