Guggenheim Capital LLC Buys 1,024 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Guggenheim Capital LLC grew its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 1.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 105,282 shares of the technology company’s stock after acquiring an additional 1,024 shares during the quarter. Guggenheim Capital LLC’s holdings in Trade Desk were worth $12,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Trade Desk by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company’s stock worth $5,015,035,000 after purchasing an additional 253,137 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Trade Desk by 2.6% in the 4th quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company’s stock worth $930,477,000 after purchasing an additional 198,822 shares during the period. Norges Bank purchased a new position in shares of Trade Desk in the fourth quarter worth approximately $524,187,000. FMR LLC grew its position in Trade Desk by 44.8% during the fourth quarter. FMR LLC now owns 3,788,285 shares of the technology company’s stock valued at $445,237,000 after buying an additional 1,172,082 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Trade Desk by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 2,019,707 shares of the technology company’s stock valued at $237,376,000 after buying an additional 5,080 shares during the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of the 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 transaction, the insider now owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 9.72% of the company’s stock.

Trade Desk Stock Up 1.2 %

Shares of Trade Desk stock opened at $49.24 on Wednesday. The stock’s fifty day moving average is $65.74 and its two-hundred day moving average is $102.80. The Trade Desk, Inc. has a 52 week low of $42.96 and a 52 week high of $141.53. The company has a market capitalization of $24.43 billion, a PE ratio of 63.13, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56.

Trade Desk (NASDAQ:TTD) last posted 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 return on equity of 16.38% and a net margin of 16.08%. As a group, research analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk declared that its board has approved a share repurchase plan on Wednesday, February 12th that allows the company to buyback $564.00 million in outstanding shares. This buyback authorization allows the technology company to buy up to 0.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TTD shares. DA Davidson dropped their price target on shares of Trade Desk from $134.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. UBS Group cut their price target on Trade Desk from $116.00 to $80.00 and set a “buy” rating for the company in a report on Friday, April 11th. Wedbush raised their price objective on Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Oppenheimer lowered their price objective on Trade Desk from $135.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Finally, KeyCorp decreased their target price on shares of Trade Desk from $74.00 to $67.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $109.69.

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.