Russell Investments Group Ltd. Boosts Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Russell Investments Group Ltd. lifted its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 83.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 499,602 shares of the technology company’s stock after purchasing an additional 226,773 shares during the period. Russell Investments Group Ltd. owned about 0.10% of Trade Desk worth $59,175,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stifel Financial Corp grew its position in shares of Trade Desk by 4.2% during the third quarter. Stifel Financial Corp now owns 346,482 shares of the technology company’s stock worth $37,992,000 after buying an additional 13,936 shares in the last quarter. Wellington Management Group LLP grew its holdings in Trade Desk by 55.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company’s stock worth $169,892,000 after acquiring an additional 551,925 shares in the last quarter. Kovitz Investment Group Partners LLC grew its holdings in Trade Desk by 31.9% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 11,602 shares of the technology company’s stock worth $1,196,000 after acquiring an additional 2,806 shares in the last quarter. iA Global Asset Management Inc. increased its position in shares of Trade Desk by 4.3% in the 3rd quarter. iA Global Asset Management Inc. now owns 45,633 shares of the technology company’s stock valued at $5,004,000 after purchasing an additional 1,898 shares during the last quarter. Finally, Glen Eagle Advisors LLC raised its holdings in shares of Trade Desk by 65.6% in the 3rd quarter. Glen Eagle Advisors LLC now owns 631 shares of the technology company’s stock valued at $69,000 after purchasing an additional 250 shares in the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Trade Desk

In related news, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction, the insider now directly owns 90,709 shares of the company’s stock, 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. 9.72% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on TTD shares. KeyCorp dropped their target price on Trade Desk from $130.00 to $74.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. BMO Capital Markets dropped their price objective on Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Cfra Research upgraded Trade Desk to a “moderate buy” rating in a research note on Tuesday, March 25th. Scotiabank dropped their price target on shares of 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. Finally, Cantor Fitzgerald reduced their price objective on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $114.38.

Trade Desk Stock Performance

Trade Desk stock opened at $46.24 on Monday. The Trade Desk, Inc. has a one year low of $44.27 and a one year high of $141.53. The company has a market cap of $22.94 billion, a P/E ratio of 59.28, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56. The business has a fifty day moving average of $78.11 and a two-hundred day moving average of $106.54.

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

Trade Desk announced that its board has approved a share repurchase plan on Wednesday, February 12th that authorizes the company to buyback $564.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 0.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are 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.