Next Century Growth Investors LLC Invests $1.65 Million in The Trade Desk, Inc. (NASDAQ:TTD)

Next Century Growth Investors LLC bought a new stake in The Trade Desk, Inc. (NASDAQ:TTD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 14,033 shares of the technology company’s stock, valued at approximately $1,649,000.

Several other large investors have also added to or reduced their stakes in the business. Rialto Wealth Management LLC acquired a new stake in shares of Trade Desk in the 4th quarter valued at approximately $26,000. Harbor Investment Advisory LLC grew its stake in shares of Trade Desk by 68.8% in the fourth 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 in the last quarter. Synergy Asset Management LLC acquired a new stake in shares of Trade Desk in the fourth quarter valued at approximately $34,000. Midwest Capital Advisors LLC bought a new stake in shares of Trade Desk during the 4th quarter valued at $34,000. Finally, Zions Bancorporation N.A. lifted its holdings in shares of Trade Desk by 148.3% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock worth $34,000 after acquiring an additional 175 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Insider Activity

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the transaction, the insider now directly owns 90,709 shares in the company, valued at approximately $10,754,459.04. This 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. Insiders own 9.72% of the company’s stock.

Trade Desk Stock Up 1.0 %

Shares of TTD stock opened at $49.78 on Friday. The business has a 50-day moving average price of $68.37 and a two-hundred day moving average price of $103.64. The firm has a market cap of $24.70 billion, a P/E ratio of 63.82, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56. The Trade Desk, Inc. has a 12-month low of $42.96 and a 12-month high of $141.53.

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

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Truist Financial dropped their target price on shares of Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Stifel Nicolaus lowered their target price on shares of Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Citizens Jmp raised shares of Trade Desk to a “strong-buy” rating in a research note on Tuesday, January 21st. Needham & Company LLC reiterated a “buy” rating and issued a $145.00 target price on shares of Trade Desk in a report on Thursday, March 13th. Finally, Wedbush boosted their price target on shares of Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $111.79.

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.