Triumph Capital Management Makes New $566,000 Investment in The Trade Desk, Inc. (NASDAQ:TTD)

Triumph Capital Management acquired a new stake in The Trade Desk, Inc. (NASDAQ:TTD) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,813 shares of the technology company’s stock, valued at approximately $566,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Lyell Wealth Management LP boosted its position in shares of Trade Desk by 24.3% during the 4th quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock worth $11,558,000 after purchasing an additional 19,204 shares during the period. Nordea Investment Management AB increased its stake in Trade Desk by 36.2% during the fourth quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock worth $159,132,000 after purchasing an additional 358,350 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Trade Desk by 276.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company’s stock valued at $8,255,000 after purchasing an additional 51,603 shares during the period. Independent Solutions Wealth Management LLC increased its stake in Trade Desk by 21.0% during the 3rd quarter. Independent Solutions Wealth Management LLC now owns 64,358 shares of the technology company’s stock worth $7,057,000 after buying an additional 11,181 shares during the period. Finally, Moody National Bank Trust Division purchased a new position in Trade Desk in the 4th quarter valued at approximately $985,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Piper Sandler started coverage on Trade Desk in a research note on Thursday, April 17th. They issued a “neutral” rating and a $55.00 price objective for the company. HSBC set a $75.00 price target on Trade Desk and gave the stock a “buy” rating in a report on Wednesday, April 23rd. JMP Securities lowered their price target on Trade Desk from $150.00 to $115.00 and set a “market outperform” rating for the company in a report on Thursday, February 13th. Loop Capital cut their price target on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Finally, Jefferies Financial Group set a $125.00 price target on shares of Trade Desk and gave the company a “buy” rating in a research report on Tuesday. Seven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $101.32.

Trade Desk Price Performance

Trade Desk stock opened at $53.63 on Thursday. The stock’s 50 day moving average price is $56.47 and its 200 day moving average price is $98.21. The company has a market cap of $26.61 billion, a PE ratio of 68.76, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56. The Trade Desk, Inc. has a 1-year low of $42.96 and a 1-year high of $141.53.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share 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%. On average, equities research analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal 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 reacquire up to 0.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

About Trade Desk

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.