Invesco Ltd. Acquires 198,822 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Invesco Ltd. increased its position in The Trade Desk, Inc. (NASDAQ:TTD) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,916,932 shares of the technology company’s stock after buying an additional 198,822 shares during the period. Invesco Ltd. owned 1.60% of Trade Desk worth $930,477,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Trade Desk during the 4th quarter worth $524,187,000. Raymond James Financial Inc. acquired a new position in Trade Desk in the fourth quarter valued at approximately $231,570,000. Franklin Resources Inc. grew its position in Trade Desk by 265.9% during the fourth quarter. Franklin Resources Inc. now owns 1,864,386 shares of the technology company’s stock valued at $219,121,000 after buying an additional 1,354,891 shares during the period. FMR LLC raised its holdings in Trade Desk by 44.8% in the 4th quarter. FMR LLC now owns 3,788,285 shares of the technology company’s stock worth $445,237,000 after purchasing an additional 1,172,082 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Trade Desk during the fourth quarter worth $100,658,000. 67.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Trade Desk news, 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 transaction of $2,283,886.08. Following the sale, the chief executive officer now owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of the firm’s 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 directly 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 disclosure for this sale can be found here. 9.72% of the stock is owned by insiders.

Trade Desk Trading Down 5.8 %

TTD opened at $46.24 on Monday. The stock has a market capitalization of $22.94 billion, a P/E ratio of 59.28, a P/E/G ratio of 3.11 and a beta of 1.56. The firm’s fifty day simple moving average is $78.11 and its 200 day simple moving average is $106.54. The Trade Desk, Inc. has a 12 month low of $44.27 and a 12 month high of $141.53.

Trade Desk (NASDAQ:TTD) last released its earnings results 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%. On average, equities research analysts predict that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its board has authorized a share buyback program 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TTD shares. Robert W. Baird reduced their price objective on Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Morgan Stanley dropped their price objective on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Truist Financial lowered their target price on shares of Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Wells Fargo & Company reduced their price target on shares of Trade Desk from $101.00 to $72.00 and set an “overweight” rating for the company in a research report on Monday, March 31st. Finally, Wedbush raised their target price on shares of Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.38.

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.