Quantinno Capital Management LP Buys 7,118 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Quantinno Capital Management LP lifted its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 11.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,546 shares of the technology company’s stock after acquiring an additional 7,118 shares during the period. Quantinno Capital Management LP’s holdings in Trade Desk were worth $8,291,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Rialto Wealth Management LLC bought a new stake in shares of Trade Desk during the fourth quarter worth $26,000. Harbor Investment Advisory LLC grew its position in Trade Desk by 68.8% in the fourth 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 in the last quarter. Synergy Asset Management LLC bought a new position in Trade Desk in the fourth quarter valued at $34,000. Midwest Capital Advisors LLC bought a new position in Trade Desk in the fourth quarter valued at $34,000. Finally, Zions Bancorporation N.A. grew its position in Trade Desk by 148.3% in the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after purchasing an additional 175 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TTD. Rosenblatt Securities began coverage on shares of Trade Desk in a research report on Tuesday, April 29th. They issued a “buy” rating and a $77.00 target price for the company. Loop Capital decreased their target price on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Morgan Stanley raised their target price on shares of Trade Desk from $60.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. UBS Group decreased their target price on shares of Trade Desk from $116.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Finally, Scotiabank decreased their price objective on shares of Trade Desk from $133.00 to $83.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $98.88.

Trade Desk Stock Down 2.1%

Shares of Trade Desk stock opened at $77.50 on Friday. The Trade Desk, Inc. has a twelve month low of $42.96 and a twelve month high of $141.53. The company has a 50-day simple moving average of $55.77 and a two-hundred day simple moving average of $94.21. The stock has a market capitalization of $38.45 billion, a price-to-earnings ratio of 99.36, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The business had revenue of $616.02 million during the quarter, compared to analysts’ expectations of $575.62 million. During the same quarter in the previous year, the company earned $0.26 EPS. The business’s revenue was up 25.4% on a year-over-year basis. On average, sell-side analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its Board of Directors has initiated a stock 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 repurchase up to 0.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Trade Desk

In related news, Director David B. Wells sold 28,638 shares of Trade Desk stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the sale, the director now directly owns 66,985 shares of the company’s stock, valued at approximately $5,350,761.80. The trade was a 29.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey Terry Green sold 26,684 shares of Trade Desk stock in a transaction that occurred on 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 in the company, valued at $1,361,950.54. This trade represents a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.74% 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.