Atika Capital Management LLC Takes $6.03 Million Position in The Trade Desk, Inc. (NASDAQ:TTD)

Atika Capital Management LLC bought a new stake in The Trade Desk, Inc. (NASDAQ:TTD) in the 4th quarter, Holdings Channel reports. The fund bought 51,300 shares of the technology company’s stock, valued at approximately $6,029,000.

A number of other large investors have also added to or reduced their stakes in the company. Captrust Financial Advisors grew its stake in Trade Desk by 2.3% during the 3rd quarter. Captrust Financial Advisors now owns 14,404 shares of the technology company’s stock valued at $1,579,000 after purchasing an additional 322 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Trade Desk by 2.8% during the 3rd quarter. Janus Henderson Group PLC now owns 264,567 shares of the technology company’s stock valued at $29,009,000 after buying an additional 7,085 shares during the last quarter. Integrated Wealth Concepts LLC increased its stake in shares of Trade Desk by 13.0% in the third quarter. Integrated Wealth Concepts LLC now owns 19,046 shares of the technology company’s stock worth $2,088,000 after buying an additional 2,197 shares during the last quarter. IHT Wealth Management LLC increased its stake in shares of Trade Desk by 51.3% in the third quarter. IHT Wealth Management LLC now owns 8,946 shares of the technology company’s stock worth $989,000 after buying an additional 3,033 shares during the last quarter. Finally, Royal London Asset Management Ltd. raised its holdings in Trade Desk by 3.0% in the third quarter. Royal London Asset Management Ltd. now owns 280,787 shares of the technology company’s stock valued at $30,788,000 after acquiring an additional 8,083 shares in the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Trading Down 5.8 %

TTD stock opened at $46.24 on Friday. The firm’s 50-day moving average is $78.11 and its two-hundred day moving average is $106.55. The company has a market capitalization of $22.94 billion, a price-to-earnings ratio of 59.28, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56. The Trade Desk, Inc. has a 52 week low of $45.02 and a 52 week 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 for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. On average, equities research analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TTD shares. DA Davidson dropped their target price on shares of Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Stifel Nicolaus lowered their price objective on Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Wells Fargo & Company reduced their target price on Trade Desk from $101.00 to $72.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. Royal Bank of Canada lowered their price target on Trade Desk from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Monday, March 17th. Finally, Loop Capital reduced their price objective on Trade Desk from $145.00 to $101.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Trade Desk presently has an average rating of “Moderate Buy” and an average price target of $114.38.

Insider Activity at Trade Desk

In related 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 completion of the sale, the insider now directly owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s 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 sale, the chief executive officer now owns 704,229 shares of the company’s stock, valued at $88,338,485.76. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.72% of the company’s stock.

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.