Korea Investment CORP Purchases 13,747 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Korea Investment CORP raised its position in The Trade Desk, Inc. (NASDAQ:TTD) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 317,940 shares of the technology company’s stock after buying an additional 13,747 shares during the period. Korea Investment CORP owned 0.06% of Trade Desk worth $37,367,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Rialto Wealth Management LLC purchased a new stake in Trade Desk during the fourth quarter worth about $26,000. Harbor Investment Advisory LLC increased its stake in shares of Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after purchasing an additional 117 shares during the last quarter. Midwest Capital Advisors LLC purchased a new stake in shares of Trade Desk during the 4th quarter worth approximately $34,000. Zions Bancorporation N.A. raised its holdings in shares of Trade Desk by 148.3% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock worth $34,000 after purchasing an additional 175 shares during the period. Finally, Exchange Traded Concepts LLC purchased a new position in Trade Desk in the fourth quarter valued at approximately $35,000. Institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Down 2.5 %

Shares of NASDAQ:TTD opened at $55.85 on Friday. The stock has a market cap of $27.71 billion, a PE ratio of 71.60, a PEG ratio of 3.11 and a beta of 1.63. The company’s fifty day moving average is $85.01 and its 200 day moving average is $108.31. The Trade Desk, Inc. has a 52 week low of $53.39 and a 52 week high of $141.53.

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%. Sell-side analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk announced that its board has authorized a stock buyback plan on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 0.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Citizens Jmp upgraded Trade Desk to a “strong-buy” rating in a research note on Tuesday, January 21st. JMP Securities lowered their price target on shares of Trade Desk from $150.00 to $115.00 and set a “market outperform” rating on the stock 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 research note on Thursday, February 13th. Citigroup dropped their target price on Trade Desk from $140.00 to $108.00 and set a “buy” rating on the stock in a research 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. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $116.41.

Insiders Place Their Bets

In other news, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the completion of the transaction, the insider now directly owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was 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 directly owns 704,229 shares in the company, valued at $88,338,485.76. The trade was a 2.52 % decrease in their ownership of the stock. 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. Company insiders own 9.72% of the company’s stock.

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.