Man Group plc Boosts Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Man Group plc raised its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 136.0% in the 4th quarter, Holdings Channel reports. The firm owned 69,590 shares of the technology company’s stock after purchasing an additional 40,104 shares during the quarter. Man Group plc’s holdings in Trade Desk were worth $8,179,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TTD. Focus Financial Network Inc. grew its stake in Trade Desk by 2.2% in the fourth quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock valued at $456,000 after purchasing an additional 84 shares during the last quarter. Quotient Wealth Partners LLC grew its stake in shares of Trade Desk by 4.2% during the fourth quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock worth $276,000 after acquiring an additional 94 shares during the last quarter. TFB Advisors LLC boosted its position in Trade Desk by 2.6% in the fourth quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock valued at $442,000 after buying an additional 94 shares during the last quarter. Centurion Wealth Management LLC boosted its position in Trade Desk by 2.6% in the fourth quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company’s stock valued at $443,000 after buying an additional 96 shares during the last quarter. Finally, Values First Advisors Inc. lifted its holdings in Trade Desk by 0.9% in the fourth quarter. Values First Advisors Inc. now owns 11,892 shares of the technology company’s stock valued at $1,398,000 after acquiring an additional 107 shares during the period. 67.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TTD has been the subject of a number of analyst reports. Macquarie boosted their price target on Trade Desk from $90.00 to $92.00 and gave the company an “outperform” rating in a report on Monday. BMO Capital Markets reduced their target price on Trade Desk from $160.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Loop Capital reduced their target price on Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Wells Fargo & Company reduced their price objective 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. Finally, Cfra Research raised Trade Desk to a “moderate buy” rating in a research note on Tuesday, March 25th. Seven research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Trade Desk presently has a consensus rating of “Moderate Buy” and an average target price of $97.12.

Trade Desk Price Performance

Trade Desk stock opened at $76.32 on Tuesday. The Trade Desk, Inc. has a 1-year low of $42.96 and a 1-year high of $141.53. The company has a market cap of $37.86 billion, a PE ratio of 97.85, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29. The stock’s 50 day moving average price is $56.44 and its 200 day moving average price is $93.21.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. The firm had revenue of $616.02 million for the quarter, compared to the consensus estimate of $575.62 million. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The company’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.26 earnings per share. On average, equities research analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its Board of Directors has approved a stock buyback 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 stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, CEO Jeffrey Terry Green sold 26,684 shares of the company’s 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 completion of the transaction, the chief executive officer now directly owns 17,018 shares in the company, valued at approximately $1,361,950.54. This represents a 61.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David B. Wells sold 28,638 shares of the company’s stock in a transaction dated 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 sale, the director now owns 66,985 shares of the company’s stock, valued at $5,350,761.80. This represents a 29.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.74% of the stock is owned by company insiders.

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.