Healthcare of Ontario Pension Plan Trust Fund Purchases 736,054 Shares of The Trade Desk $TTD

Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of The Trade Desk (NASDAQ:TTD) by 407.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 916,800 shares of the technology company’s stock after buying an additional 736,054 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Trade Desk were worth $34,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Trade Desk by 271.1% in the third quarter. State Street Corp now owns 36,354,274 shares of the technology company’s stock worth $1,781,723,000 after purchasing an additional 26,559,005 shares during the period. Vanguard Group Inc. increased its position in shares of Trade Desk by 27.7% in the third quarter. Vanguard Group Inc. now owns 56,875,852 shares of the technology company’s stock worth $2,787,486,000 after purchasing an additional 12,321,000 shares during the period. Norges Bank bought a new position in shares of Trade Desk in the fourth quarter worth $197,550,000. Federated Hermes Inc. increased its position in shares of Trade Desk by 1,041.1% in the fourth quarter. Federated Hermes Inc. now owns 4,710,847 shares of the technology company’s stock worth $178,824,000 after purchasing an additional 4,298,009 shares during the period. Finally, Invesco Ltd. increased its position in shares of Trade Desk by 101.0% in the third quarter. Invesco Ltd. now owns 6,807,971 shares of the technology company’s stock worth $333,659,000 after purchasing an additional 3,421,074 shares during the period. Institutional investors own 67.77% of the company’s stock.

Trade Desk Trading Down 0.1%

Shares of TTD stock opened at $19.27 on Tuesday. The business’s 50-day moving average price is $21.74 and its 200-day moving average price is $28.07. The Trade Desk has a 12 month low of $18.31 and a 12 month high of $91.45. The firm has a market capitalization 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 quarterly earnings results on Thursday, May 7th. The technology company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.24). Trade Desk had a net margin of 14.57% and a return on equity of 16.91%. The firm had revenue of $688.86 million for the quarter, compared to analyst estimates of $678.87 million. During the same period in the previous year, the business posted $0.33 earnings per share. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, sell-side analysts predict that The Trade Desk will post 1.17 earnings per share for the current fiscal year.

Trade Desk declared that its board has approved a share buyback program on Wednesday, February 25th that authorizes the company to repurchase $350.00 million in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TTD shares. Rosenblatt Securities decreased their price target on Trade Desk from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, May 8th. Guggenheim reduced their price objective on Trade Desk from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Morgan Stanley set a $26.00 price objective on Trade Desk in a research note on Friday, May 8th. Needham & Company LLC reduced their price objective on Trade Desk from $32.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, KeyCorp lowered Trade Desk from an “overweight” rating to a “sector weight” rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twenty-one have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, Trade Desk has a consensus rating of “Hold” and an average price target of $33.91.

Insider Activity at Trade Desk

In related news, Director Samantha Jacobson sold 53,681 shares of Trade Desk stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $21.14, for a total value of $1,134,816.34. Following the transaction, the director directly owned 13,099 shares of the company’s stock, valued at $276,912.86. The trade was a 80.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.41% of the stock is currently owned by corporate insiders.

Trade Desk Profile

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.