Mariner LLC Increases Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Mariner LLC raised its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 4.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 229,219 shares of the technology company’s stock after purchasing an additional 9,927 shares during the quarter. Mariner LLC’s holdings in Trade Desk were worth $26,941,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TTD. Lyell Wealth Management LP boosted its stake in shares of Trade Desk by 24.3% during the 4th quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock valued at $11,558,000 after purchasing an additional 19,204 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Trade Desk by 36.2% in the fourth quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock worth $159,132,000 after buying an additional 358,350 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Trade Desk by 276.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company’s stock worth $8,255,000 after buying an additional 51,603 shares during the period. Independent Solutions Wealth Management LLC boosted its position in Trade Desk by 21.0% during the 3rd quarter. Independent Solutions Wealth Management LLC now owns 64,358 shares of the technology company’s stock valued at $7,057,000 after acquiring an additional 11,181 shares in the last quarter. Finally, Moody National Bank Trust Division purchased a new position in shares of Trade Desk during the 4th quarter worth approximately $985,000. 67.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction 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 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 SEC, which is available at this link. Insiders own 9.72% of the company’s stock.

Trade Desk Trading Up 1.2 %

Shares of TTD opened at $49.24 on Wednesday. The firm has a fifty day simple moving average of $65.74 and a two-hundred day simple moving average of $102.80. The firm has a market cap of $24.43 billion, a PE ratio of 63.13, a P/E/G ratio of 3.11 and a beta of 1.56. The Trade Desk, Inc. has a 1-year low of $42.96 and a 1-year high of $141.53.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data 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, research analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

TTD has been the subject of a number of research analyst reports. Jefferies Financial Group lowered their target price on Trade Desk from $120.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Oppenheimer dropped their target price on shares of Trade Desk from $135.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Evercore ISI lowered shares of Trade Desk from an “outperform” rating to an “inline” rating and decreased their price target for the stock from $135.00 to $90.00 in a research note on Thursday, February 13th. Loop Capital lowered their price target 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. Finally, JMP Securities cut their price objective on shares of Trade Desk from $150.00 to $115.00 and set a “market outperform” rating on the stock in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.