Invesco Ltd. Acquires 198,822 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Invesco Ltd. boosted its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,916,932 shares of the technology company’s stock after buying an additional 198,822 shares during the period. Invesco Ltd.’s holdings in Trade Desk were worth $930,477,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Trade Desk by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company’s stock valued at $5,015,035,000 after purchasing an additional 253,137 shares in the last quarter. Norges Bank purchased a new stake in Trade Desk in the fourth quarter valued at approximately $524,187,000. FMR LLC grew its position in Trade Desk by 44.8% in the fourth quarter. FMR LLC now owns 3,788,285 shares of the technology company’s stock worth $445,237,000 after acquiring an additional 1,172,082 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Trade Desk by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,019,707 shares of the technology company’s stock valued at $237,376,000 after acquiring an additional 5,080 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Trade Desk during the fourth quarter worth about $231,570,000. Institutional investors own 67.77% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on TTD shares. Wells Fargo & Company cut their target price on Trade Desk from $101.00 to $72.00 and set an “overweight” rating for the company in a research note on Monday, March 31st. Piper Sandler reissued an “overweight” rating and issued a $110.00 price target (down from $140.00) on shares of Trade Desk in a research note on Thursday, February 13th. Citizens Jmp upgraded Trade Desk to a “strong-buy” rating in a report on Tuesday, January 21st. Wedbush increased their price objective on Trade Desk from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Finally, Benchmark upgraded shares of Trade Desk from a “sell” rating to a “hold” rating in a report on Friday, March 7th. Six analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $114.38.

Trade Desk Price Performance

Shares of NASDAQ:TTD opened at $46.24 on Monday. The Trade Desk, Inc. has a 1 year low of $44.27 and a 1 year high of $141.53. The stock’s fifty day moving average price is $78.11 and its 200-day moving average price is $106.54. The company has a market cap of $22.94 billion, a P/E ratio of 59.28, a PEG ratio of 3.11 and a beta of 1.56.

Trade Desk (NASDAQ:TTD) last posted 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 net margin of 16.08% and a return on equity of 16.38%. On average, sell-side 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 share repurchase plan on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 0.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the completion of the sale, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 directly owns 90,709 shares in the company, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.72% of the stock is currently owned by corporate insiders.

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.