Jag Capital Management LLC Purchases Shares of 87,549 The Trade Desk, Inc. (NASDAQ:TTD)

Jag Capital Management LLC purchased a new stake in The Trade Desk, Inc. (NASDAQ:TTD) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 87,549 shares of the technology company’s stock, valued at approximately $10,290,000. Trade Desk accounts for about 1.4% of Jag Capital Management LLC’s investment portfolio, making the stock its 28th largest holding.

Other large investors have also recently bought and sold shares of the company. Harbor Investment Advisory LLC boosted its holdings in 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 purchasing an additional 117 shares during the period. Synergy Asset Management LLC purchased a new stake in shares of Trade Desk during the 4th quarter valued at $34,000. Midwest Capital Advisors LLC purchased a new stake in shares of Trade Desk during the 4th quarter valued at $34,000. Exchange Traded Concepts LLC purchased a new stake in shares of Trade Desk during the 4th quarter valued at $35,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Trade Desk during the 4th quarter valued at $39,000. 67.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Truist Financial lowered their price objective on shares of Trade Desk from $155.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Morgan Stanley lowered their price objective on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Citizens Jmp upgraded shares of Trade Desk to a “strong-buy” rating in a research report on Tuesday, January 21st. Piper Sandler reiterated an “overweight” rating and issued a $110.00 target price (down previously from $140.00) on shares of Trade Desk in a research report on Thursday, February 13th. Finally, DA Davidson decreased their target price on shares of Trade Desk from $134.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Trade Desk presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.45.

Insider Transactions at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the transaction, the insider now directly owns 90,709 shares of the company’s stock, valued at $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the transaction, the insider now directly owns 169,464 shares of the company’s stock, valued at $20,225,528.40. The trade was a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,029 shares of company stock worth $5,004,296. Corporate insiders own 9.72% of the company’s stock.

Trade Desk Price Performance

NASDAQ:TTD opened at $67.17 on Tuesday. The Trade Desk, Inc. has a one year low of $66.82 and a one year high of $141.53. The company’s 50-day simple moving average is $109.60 and its 200 day simple moving average is $114.47. The firm has a market capitalization of $33.32 billion, a P/E ratio of 86.12, a PEG ratio of 3.11 and a beta of 1.45.

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

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

Trade Desk 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.