LGT Fund Management Co Ltd. Takes $308,000 Position in The Trade Desk, Inc. (NASDAQ:TTD)

LGT Fund Management Co Ltd. bought a new position in The Trade Desk, Inc. (NASDAQ:TTD) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 2,620 shares of the technology company’s stock, valued at approximately $308,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Stephens Inc. AR raised its position in shares of Trade Desk by 48.3% in the 3rd quarter. Stephens Inc. AR now owns 7,944 shares of the technology company’s stock valued at $871,000 after purchasing an additional 2,588 shares in the last quarter. Gladstone Institutional Advisory LLC increased its holdings in shares of Trade Desk by 49.3% during the third quarter. Gladstone Institutional Advisory LLC now owns 4,247 shares of the technology company’s stock valued at $466,000 after purchasing an additional 1,402 shares during the period. Farther Finance Advisors LLC raised its holdings in Trade Desk by 21.7% during the third quarter. Farther Finance Advisors LLC now owns 2,335 shares of the technology company’s stock worth $256,000 after purchasing an additional 417 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Trade Desk by 1.4% in the third quarter. Janney Montgomery Scott LLC now owns 172,203 shares of the technology company’s stock valued at $18,882,000 after buying an additional 2,307 shares during the period. Finally, Asset Management One Co. Ltd. boosted its position in shares of Trade Desk by 0.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 257,474 shares of the technology company’s stock valued at $28,232,000 after purchasing an additional 1,255 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TTD. Royal Bank of Canada decreased their target price on Trade Desk from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Oppenheimer dropped their price objective on Trade Desk from $135.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Morgan Stanley cut their price objective on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Truist Financial reduced their price objective on shares of Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $110.00 price target (down from $140.00) on shares of Trade Desk in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.45.

Insider Transactions at Trade Desk

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the completion of the sale, the insider now owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the transaction, the insider now owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock valued at $5,004,296 in the last ninety days. Corporate insiders own 9.72% of the company’s stock.

Trade Desk Stock Performance

Shares of TTD stock opened at $67.17 on Tuesday. The company has a market capitalization of $33.32 billion, a price-to-earnings ratio of 86.12, a price-to-earnings-growth ratio of 3.11 and a beta of 1.45. The Trade Desk, Inc. has a one year low of $66.82 and a one year high of $141.53. The company’s 50-day moving average is $109.60 and its 200 day moving average is $114.47.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data 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%. As a group, research analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its board has initiated a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Trade Desk 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.