Trexquant Investment LP Buys 64,801 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Trexquant Investment LP raised its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 71.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 155,960 shares of the technology company’s stock after acquiring an additional 64,801 shares during the quarter. Trexquant Investment LP’s holdings in Trade Desk were worth $18,330,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in TTD. Norges Bank acquired a new stake in Trade Desk during the fourth quarter worth $524,187,000. Raymond James Financial Inc. bought a new position in shares of Trade Desk during the 4th quarter worth about $231,570,000. Franklin Resources Inc. boosted its position in shares of Trade Desk by 265.9% during the 4th quarter. Franklin Resources Inc. now owns 1,864,386 shares of the technology company’s stock valued at $219,121,000 after acquiring an additional 1,354,891 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Trade Desk in the fourth quarter valued at about $100,658,000. Finally, National Pension Service raised its position in Trade Desk by 104.1% in the fourth quarter. National Pension Service now owns 1,264,985 shares of the technology company’s stock worth $148,674,000 after purchasing an additional 645,240 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Price Performance

Shares of TTD stock opened at $54.72 on Tuesday. The stock has a market cap of $27.15 billion, a PE ratio of 70.15, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The stock has a 50-day moving average of $83.62 and a 200-day moving average of $108.07. The Trade Desk, Inc. has a one year low of $52.90 and a one year high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. As a group, research analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk declared that its board has authorized a stock repurchase program on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Truist Financial decreased their price objective on Trade Desk from $155.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. UBS Group boosted their price target on Trade Desk from $116.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Royal Bank of Canada dropped their price objective on Trade Desk from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Monday, March 17th. Needham & Company LLC restated a “buy” rating and issued a $145.00 target price on shares of Trade Desk in a research note on Thursday, March 13th. Finally, Oppenheimer dropped their target price on shares of Trade Desk from $135.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong 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 $115.41.

Insiders Place Their Bets

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the sale, the chief executive officer now owns 704,229 shares of the company’s stock, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the transaction, the insider now owns 90,709 shares in the company, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.72% 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.