Raiffeisen Bank International AG Buys New Shares in The Trade Desk, Inc. (NASDAQ:TTD)

Raiffeisen Bank International AG bought a new stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) in the 4th quarter, HoldingsChannel reports. The firm bought 56,233 shares of the technology company’s stock, valued at approximately $6,758,000.

Several other hedge funds have also modified their holdings of the stock. Capital Investment Advisors LLC acquired a new position in shares of Trade Desk in the 4th quarter valued at $214,000. Wedmont Private Capital boosted its position in shares of Trade Desk by 3.9% in the 4th quarter. Wedmont Private Capital now owns 3,781 shares of the technology company’s stock valued at $449,000 after purchasing an additional 143 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Trade Desk by 276.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company’s stock valued at $8,255,000 after acquiring an additional 51,603 shares in the last quarter. Kathmere Capital Management LLC lifted its position in shares of Trade Desk by 13.5% in the 4th quarter. Kathmere Capital Management LLC now owns 2,324 shares of the technology company’s stock valued at $273,000 after acquiring an additional 277 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its position in shares of Trade Desk by 15.8% in the 4th quarter. Park Avenue Securities LLC now owns 39,519 shares of the technology company’s stock valued at $4,645,000 after acquiring an additional 5,405 shares in the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Trade Desk Trading Down 2.1%

Shares of Trade Desk stock opened at $77.50 on Friday. The Trade Desk, Inc. has a 1 year low of $42.96 and a 1 year high of $141.53. The firm has a market capitalization of $38.45 billion, a PE ratio of 99.36, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29. The firm’s 50 day moving average is $55.77 and its 200 day moving average is $94.21.

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

Trade Desk announced that its board has initiated a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, 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 value of $2,135,520.52. Following the sale, the chief executive officer now owns 17,018 shares of the company’s stock, valued at approximately $1,361,950.54. The trade was a 61.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David B. Wells sold 28,638 shares of Trade Desk stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total value of $2,287,603.44. Following the completion of the sale, the director now directly owns 66,985 shares of the company’s stock, valued at approximately $5,350,761.80. This trade represents a 29.95% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.74% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on TTD. Truist Financial upped their price target on shares of Trade Desk from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Needham & Company LLC reissued a “buy” rating and set a $84.00 price target on shares of Trade Desk in a research report on Thursday. Jefferies Financial Group set a $125.00 price target on Trade Desk and gave the company a “buy” rating in a research report on Tuesday, April 29th. DA Davidson lowered their price objective on shares of Trade Desk from $103.00 to $92.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Finally, Robert W. Baird lowered their price objective on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating and twenty-six have assigned a 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 $98.88.

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.