71 West Capital Partners Makes New $5.34 Million Investment in The Trade Desk $TTD

71 West Capital Partners purchased a new position in The Trade Desk (NASDAQ:TTD) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 140,584 shares of the technology company’s stock, valued at approximately $5,337,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TTD. State Street Corp boosted its holdings in Trade Desk by 271.1% in the 3rd quarter. State Street Corp now owns 36,354,274 shares of the technology company’s stock worth $1,781,723,000 after acquiring an additional 26,559,005 shares during the period. Vanguard Group Inc. boosted its holdings in Trade Desk by 27.7% in the 3rd quarter. Vanguard Group Inc. now owns 56,875,852 shares of the technology company’s stock worth $2,787,486,000 after acquiring an additional 12,321,000 shares during the period. Norges Bank purchased a new position in Trade Desk in the 4th quarter worth approximately $197,550,000. Federated Hermes Inc. boosted its holdings in Trade Desk by 1,041.1% in the 4th quarter. Federated Hermes Inc. now owns 4,710,847 shares of the technology company’s stock worth $178,824,000 after acquiring an additional 4,298,009 shares during the period. Finally, Invesco Ltd. boosted its holdings in Trade Desk by 101.0% in the 3rd quarter. Invesco Ltd. now owns 6,807,971 shares of the technology company’s stock worth $333,659,000 after acquiring an additional 3,421,074 shares during the period. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Down 0.1%

Shares of TTD opened at $19.27 on Tuesday. The business’s 50 day moving average is $21.74 and its two-hundred day moving average is $28.07. The Trade Desk has a 52-week low of $18.31 and a 52-week high of $91.45. The firm has a market cap of $9.06 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 0.93 and a beta of 1.05.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, May 7th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.24). The business had revenue of $688.86 million during the quarter, compared to analyst estimates of $678.87 million. Trade Desk had a net margin of 14.57% and a return on equity of 16.91%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.33 earnings per share. On average, equities analysts expect that The Trade Desk will post 1.17 earnings per share for the current fiscal year.

Trade Desk announced that its board has initiated a stock buyback plan on Wednesday, February 25th that permits the company to buyback $350.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 2.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on TTD shares. Evercore set a $27.00 price target on Trade Desk in a report on Friday, May 8th. Piper Sandler reaffirmed a “neutral” rating and issued a $24.00 target price on shares of Trade Desk in a research report on Friday, May 8th. BMO Capital Markets cut their target price on Trade Desk from $98.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th. HSBC lowered Trade Desk from a “buy” rating to a “reduce” rating and set a $20.00 target price on the stock. in a research report on Monday, May 11th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Trade Desk in a research report on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-one have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $33.91.

Insider Activity

In related news, Director Samantha Jacobson sold 53,681 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $21.14, for a total transaction of $1,134,816.34. Following the sale, the director directly owned 13,099 shares of the company’s stock, valued at approximately $276,912.86. This represents a 80.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.41% of the company’s stock.

About Trade Desk

The Trade Desk, Inc (NASDAQ: TTD) is a technology company that provides a demand-side platform (DSP) for programmatic digital advertising. Its platform enables advertisers, agencies and other buyers to plan, purchase and measure ad inventory across digital channels, including display, video, mobile, audio, native and connected TV. By centralizing real?time bidding, audience targeting and inventory access, the company aims to help clients optimize media spend and reach audiences at scale across publishers and ad exchanges.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk grew from a focus on programmatic display into a global ad?tech provider.