Nuveen Asset Management LLC Has $334.26 Million Position in The Trade Desk, Inc. (NASDAQ:TTD)

Nuveen Asset Management LLC boosted its position in The Trade Desk, Inc. (NASDAQ:TTD) by 22.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,844,036 shares of the technology company’s stock after purchasing an additional 523,627 shares during the quarter. Nuveen Asset Management LLC’s holdings in Trade Desk were worth $334,260,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Rialto Wealth Management LLC acquired a new stake in Trade Desk in the fourth quarter valued at $26,000. Harbor Investment Advisory LLC increased its position in Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after purchasing an additional 117 shares during the period. Synergy Asset Management LLC acquired a new stake in shares of Trade Desk during the fourth quarter worth $34,000. Midwest Capital Advisors LLC acquired a new stake in shares of Trade Desk during the fourth quarter worth $34,000. Finally, Zions Bancorporation N.A. increased its position in shares of Trade Desk by 148.3% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock worth $34,000 after buying an additional 175 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on TTD shares. Cantor Fitzgerald decreased their price target on Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. UBS Group decreased their target price on Trade Desk from $116.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Truist Financial raised their target price on Trade Desk from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Benchmark raised Trade Desk from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Stifel Nicolaus reduced their price objective on shares of Trade Desk from $122.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Seven analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $98.88.

Trade Desk Stock Performance

Shares of NASDAQ:TTD opened at $79.14 on Thursday. The company’s 50-day moving average is $55.42 and its 200 day moving average is $94.49. The company has a market capitalization of $39.26 billion, a P/E ratio of 101.46, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29. The Trade Desk, Inc. has a fifty-two week low of $42.96 and a fifty-two week high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The firm had revenue of $616.02 million for the quarter, compared to analysts’ expectations of $575.62 million. During the same quarter in the prior year, the firm earned $0.26 EPS. The business’s revenue for the quarter was up 25.4% compared to the same quarter last year. As a group, research analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that allows the company to buyback $564.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 0.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 26,684 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the sale, the chief executive officer now directly owns 17,018 shares of the company’s stock, valued at $1,361,950.54. This represents a 61.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 9.74% of the company’s stock.

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.