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

Allstate Corp acquired a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 13,180 shares of the technology company’s stock, valued at approximately $1,549,000.

Several other hedge funds have also modified their holdings of the stock. FMR LLC boosted its holdings in Trade Desk by 1.3% in the third quarter. FMR LLC now owns 2,616,203 shares of the technology company’s stock valued at $286,867,000 after acquiring an additional 32,999 shares during the last quarter. Townsquare Capital LLC lifted its stake in shares of Trade Desk by 82.9% in the 3rd quarter. Townsquare Capital LLC now owns 7,887 shares of the technology company’s stock valued at $865,000 after purchasing an additional 3,574 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Trade Desk by 40.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 125,102 shares of the technology company’s stock worth $13,717,000 after purchasing an additional 36,139 shares during the period. Hantz Financial Services Inc. increased its position in Trade Desk by 5.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 13,243 shares of the technology company’s stock worth $1,452,000 after purchasing an additional 697 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in Trade Desk by 6.2% during the third quarter. Rockefeller Capital Management L.P. now owns 42,836 shares of the technology company’s stock valued at $4,697,000 after buying an additional 2,516 shares in the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Trading Down 2.5 %

Shares of Trade Desk stock opened at $55.85 on Monday. The stock has a market capitalization 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 Trade Desk, Inc. has a twelve month low of $53.39 and a twelve month high of $141.53. The business’s 50 day simple moving average is $85.01 and its 200-day simple moving average is $108.42.

Trade Desk (NASDAQ:TTD) last issued its earnings results 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 return on equity of 16.38% and a net margin of 16.08%. Sell-side analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TTD shares. Evercore ISI lowered shares of Trade Desk from an “outperform” rating to an “inline” rating and dropped their price objective for the stock from $135.00 to $90.00 in a research report on Thursday, February 13th. Needham & Company LLC reissued a “buy” rating and issued a $145.00 price objective on shares of Trade Desk in a research report on Thursday, March 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 target price (down previously from $140.00) on shares of Trade Desk in a research report on Thursday, February 13th. Citigroup lowered their target price on Trade Desk from $140.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Wells Fargo & Company decreased their price target on Trade Desk from $142.00 to $101.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.41.

Insider Activity at Trade Desk

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction 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 $10,754,459.04. The trade was a 4.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction on Tuesday, January 7th. The stock was 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 directly owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. 9.72% of the stock is currently owned by insiders.

Trade Desk Company 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.