Magnetar Financial LLC Takes $832,000 Position in The Trade Desk, Inc. (NASDAQ:TTD)

Magnetar Financial LLC purchased a new stake in The Trade Desk, Inc. (NASDAQ:TTD) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,077 shares of the technology company’s stock, valued at approximately $832,000.

A number of other large investors have also bought and sold shares of TTD. Edgewood Management LLC increased its stake in Trade Desk by 133.3% during the 3rd quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock worth $1,089,280,000 after purchasing an additional 5,675,571 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Trade Desk during the 4th quarter worth approximately $231,570,000. National Pension Service increased its stake in Trade Desk by 104.1% during the 4th quarter. National Pension Service now owns 1,264,985 shares of the technology company’s stock worth $148,674,000 after purchasing an additional 645,240 shares in the last quarter. Wellington Management Group LLP increased its stake in Trade Desk by 55.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company’s stock worth $169,892,000 after purchasing an additional 551,925 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in Trade Desk by 1,809.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 444,616 shares of the technology company’s stock worth $48,752,000 after purchasing an additional 421,333 shares in the last quarter. 67.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the transaction, the insider now owns 90,709 shares in the company, valued at $10,754,459.04. This represents a 4.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the transaction, the chief executive officer now owns 704,229 shares in the company, 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. Insiders have sold a total of 41,029 shares of company stock worth $5,004,296 in the last quarter. Corporate insiders own 9.72% of the company’s stock.

Trade Desk Stock Performance

Shares of TTD opened at $56.31 on Friday. The Trade Desk, Inc. has a 52 week low of $53.39 and a 52 week high of $141.53. The firm has a market cap of $27.93 billion, a P/E ratio of 72.19, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The firm’s 50-day simple moving average is $91.14 and its 200 day simple moving average is $109.79.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 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, equities analysts forecast 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 buyback program on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TTD shares. Royal Bank of Canada lowered their target price on Trade Desk from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Monday, March 17th. Loop Capital decreased their target price on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Piper Sandler reiterated an “overweight” rating and issued a $110.00 price target (down from $140.00) on shares of Trade Desk in a research note on Thursday, February 13th. UBS Group boosted their price target on shares of Trade Desk from $116.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Finally, Robert W. Baird cut their price target on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $116.41.

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.