State of Michigan Retirement System Buys Shares of 120,500 The Trade Desk $TTD

State of Michigan Retirement System purchased a new position in shares of The Trade Desk (NASDAQ:TTD) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 120,500 shares of the technology company’s stock, valued at approximately $5,906,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Pacific Wealth Strategies Group Inc. increased its position in Trade Desk by 3.9% during the third quarter. Pacific Wealth Strategies Group Inc. now owns 18,201 shares of the technology company’s stock worth $892,000 after buying an additional 685 shares during the last quarter. DDFG Inc boosted its position in Trade Desk by 25.0% during the third quarter. DDFG Inc now owns 5,500 shares of the technology company’s stock worth $270,000 after purchasing an additional 1,100 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in Trade Desk by 126.7% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 75,020 shares of the technology company’s stock valued at $3,677,000 after purchasing an additional 41,924 shares during the last quarter. Sentry Investment Management LLC acquired a new stake in shares of Trade Desk in the third quarter worth $58,000. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in Trade Desk by 6.4% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 21,505 shares of the technology company’s stock valued at $1,054,000 after buying an additional 1,291 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Stock Performance

Shares of NASDAQ:TTD opened at $27.04 on Tuesday. The Trade Desk has a 52 week low of $26.01 and a 52 week high of $125.80. The company has a market capitalization of $13.08 billion, a PE ratio of 31.08, a P/E/G ratio of 1.06 and a beta of 1.10. The company’s fifty day moving average is $35.83 and its 200-day moving average is $46.88.

Trade Desk announced that its board has authorized a share buyback plan on Thursday, November 6th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to repurchase up to 2.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TTD shares. Cantor Fitzgerald set a $43.00 price target on shares of Trade Desk and gave the company a “neutral” rating in a report on Thursday, January 8th. Zacks Research upgraded shares of Trade Desk from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. Stifel Nicolaus set a $74.00 price objective on shares of Trade Desk and gave the company a “buy” rating in a research report on Friday, January 23rd. Guggenheim reaffirmed a “buy” rating and issued a $50.00 price target (down previously from $55.00) on shares of Trade Desk in a report on Monday, January 5th. Finally, Rosenblatt Securities cut their target price on Trade Desk from $64.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, sixteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $63.91.

Trade Desk Profile

The Trade Desk, Inc (NASDAQ: TTD) is a technology company that provides a demand-side platform (DSP) for programmatic digital advertising. Its platform enables advertisers, agencies and other buyers to plan, purchase and measure ad inventory across digital channels, including display, video, mobile, audio, native and connected TV. By centralizing real‑time bidding, audience targeting and inventory access, the company aims to help clients optimize media spend and reach audiences at scale across publishers and ad exchanges.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk grew from a focus on programmatic display into a global ad‑tech provider.