Gotham Asset Management LLC Boosts Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Gotham Asset Management LLC lifted its position in The Trade Desk, Inc. (NASDAQ:TTD) by 133.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 9,061 shares of the technology company’s stock after buying an additional 5,187 shares during the quarter. Gotham Asset Management LLC’s holdings in Trade Desk were worth $1,065,000 at the end of the most recent quarter.

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

Trade Desk Trading Down 1.5%

Shares of NASDAQ TTD opened at $76.31 on Friday. The stock has a 50 day simple moving average of $56.12 and a 200-day simple moving average of $93.70. The company has a market cap of $37.86 billion, a PE ratio of 97.83, a P/E/G ratio of 3.11 and a beta of 1.29. The Trade Desk, Inc. has a 12-month low of $42.96 and a 12-month high of $141.53.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, topping the consensus estimate 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 previous year, the company earned $0.26 earnings per share. The firm’s quarterly revenue was up 25.4% compared to the same quarter last year. Sell-side analysts forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have weighed in on TTD shares. BMO Capital Markets cut their price target on Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Wells Fargo & Company lowered their price objective on Trade Desk from $101.00 to $72.00 and set an “overweight” rating for the company in a research report on Monday, March 31st. Royal Bank of Canada lowered their price objective on Trade Desk from $100.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Guggenheim lowered their price objective on Trade Desk from $110.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Finally, Rosenblatt Securities began coverage on Trade Desk in a research report on Tuesday, April 29th. They set a “buy” rating and a $77.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $98.88.

Insider Transactions at Trade Desk

In related news, CEO Jeffrey Terry Green sold 26,684 shares of Trade Desk stock in a transaction on Monday, May 12th. The stock was sold at an average price of $80.03, for a total value of $2,135,520.52. Following the transaction, the chief executive officer now directly owns 17,018 shares in the company, valued at $1,361,950.54. The trade was a 61.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David B. Wells sold 28,638 shares of Trade Desk stock in a transaction on 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 transaction, the director now owns 66,985 shares in the company, valued at $5,350,761.80. The trade was a 29.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.