Allstate Corp Purchases Shares of 13,180 The Trade Desk, Inc. (NASDAQ:TTD)

Allstate Corp acquired a new position in The Trade Desk, Inc. (NASDAQ:TTD) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 13,180 shares of the technology company’s stock, valued at approximately $1,549,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Rialto Wealth Management LLC purchased a new stake in shares of Trade Desk during the fourth quarter valued at $26,000. Harbor Investment Advisory LLC lifted its stake in Trade Desk by 68.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after buying an additional 117 shares in the last quarter. Midwest Capital Advisors LLC acquired a new position in shares of Trade Desk in the fourth quarter worth about $34,000. Zions Bancorporation N.A. raised its holdings in shares of Trade Desk by 148.3% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after acquiring an additional 175 shares during the period. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Trade Desk in the 4th quarter valued at approximately $35,000. 67.77% of the stock is currently owned by institutional investors.

Insider Transactions at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the sale, the insider now owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the completion of the transaction, the chief executive officer now owns 704,229 shares of the company’s stock, valued at $88,338,485.76. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.72% of the company’s stock.

Trade Desk Stock Down 2.5 %

Shares of NASDAQ:TTD opened at $55.85 on Monday. The company has a market cap of $27.71 billion, a price-to-earnings ratio of 71.60, a PEG ratio of 3.11 and a beta of 1.63. The business has a 50 day moving average price of $85.01 and a 200 day moving average price of $108.42. The Trade Desk, Inc. has a twelve month low of $53.39 and a twelve month high of $141.53.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share 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%. Analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk announced that its board has authorized a share buyback plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. BMO Capital Markets decreased their price objective on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Morgan Stanley dropped their price target on Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Benchmark raised Trade Desk from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. DA Davidson lowered their target price on Trade Desk from $134.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, JMP Securities reduced their price target on shares of Trade Desk from $150.00 to $115.00 and set a “market outperform” rating for the company in a research report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Trade Desk currently has an average rating of “Moderate Buy” and an average price target of $116.41.

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.