Brevan Howard Capital Management LP Buys Shares of 64,626 The Trade Desk, Inc. (NASDAQ:TTD)

Brevan Howard Capital Management LP acquired a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 64,626 shares of the technology company’s stock, valued at approximately $7,595,000.

Several other hedge funds also recently bought and sold shares of TTD. Rialto Wealth Management LLC acquired a new stake in Trade Desk in the 4th quarter valued at approximately $26,000. Harbor Investment Advisory LLC boosted its holdings in Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after acquiring an additional 117 shares during the period. Synergy Asset Management LLC acquired a new position in Trade Desk in the 4th quarter valued at about $34,000. Midwest Capital Advisors LLC purchased a new stake in Trade Desk during the fourth quarter worth about $34,000. Finally, Zions Bancorporation N.A. lifted its position 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 worth $34,000 after purchasing an additional 175 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Trade Desk Trading Up 1.9 %

Trade Desk stock opened at $54.09 on Monday. The stock has a market cap of $26.83 billion, a P/E ratio of 69.35, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29. The Trade Desk, Inc. has a 52 week low of $42.96 and a 52 week high of $141.53. The stock has a 50 day moving average of $55.63 and a 200-day moving average of $97.04.

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

Trade Desk declared that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TTD. Wells Fargo & Company reduced their target price on shares of Trade Desk from $101.00 to $72.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. Rosenblatt Securities assumed coverage on Trade Desk in a report on Tuesday, April 29th. They set a “buy” rating and a $77.00 price objective on the stock. DA Davidson decreased their target price on Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. JMP Securities reduced their price objective on Trade Desk from $150.00 to $115.00 and set a “market outperform” rating for the company in a research note on Thursday, February 13th. Finally, Stifel Nicolaus decreased their price target on shares of Trade Desk from $122.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Seven investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $100.84.

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.