Elo Mutual Pension Insurance Co Raises Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Elo Mutual Pension Insurance Co lifted its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 10.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,477 shares of the technology company’s stock after purchasing an additional 4,177 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Trade Desk were worth $5,110,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in shares of Trade Desk in the 4th quarter worth $231,570,000. National Pension Service lifted its holdings in shares of Trade Desk by 104.1% in the 4th quarter. National Pension Service now owns 1,264,985 shares of the technology company’s stock valued at $148,674,000 after acquiring an additional 645,240 shares during the last quarter. Wellington Management Group LLP grew its position in Trade Desk by 55.3% in the third quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company’s stock worth $169,892,000 after acquiring an additional 551,925 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Trade Desk by 1,809.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 444,616 shares of the technology company’s stock worth $48,752,000 after acquiring an additional 421,333 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Trade Desk by 326.1% during the third quarter. Franklin Resources Inc. now owns 509,495 shares of the technology company’s stock valued at $60,105,000 after purchasing an additional 389,917 shares during the period. Institutional investors own 67.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TTD. Stifel Nicolaus cut their target price on Trade Desk from $144.00 to $122.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Truist Financial lowered their target price on shares of Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Robert W. Baird cut their price target on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Morgan Stanley decreased their price objective on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Finally, Cantor Fitzgerald cut their target price on Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Trade Desk currently has an average rating of “Moderate Buy” and an average target price of $116.41.

Trade Desk Trading Down 2.6 %

Shares of NASDAQ:TTD opened at $57.26 on Friday. The company has a market capitalization of $28.41 billion, a PE ratio of 73.41, a P/E/G ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 12-month low of $53.39 and a 12-month high of $141.53. The business’s fifty day simple moving average is $86.39 and its 200-day simple moving average is $108.61.

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

Trade Desk announced that its board has approved a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the business’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 in the company, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jay R. Grant sold 18,524 shares of the 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 completion of 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. Insiders sold a total of 41,029 shares of company stock worth $5,004,296 in the last 90 days. 9.72% of the stock is owned by corporate insiders.

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.