Caisse DE Depot ET Placement DU Quebec Has $20.95 Million Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Caisse DE Depot ET Placement DU Quebec raised its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 90.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 178,209 shares of the technology company’s stock after buying an additional 84,767 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Trade Desk were worth $20,945,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lyell Wealth Management LP grew its position in Trade Desk by 24.3% in the 4th quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock worth $11,558,000 after purchasing an additional 19,204 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of 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 valued at $159,132,000 after acquiring an additional 358,350 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Trade Desk by 276.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company’s stock valued at $8,255,000 after acquiring an additional 51,603 shares during the last quarter. Moody National Bank Trust Division bought a new stake in Trade Desk during the fourth quarter worth $985,000. Finally, Yousif Capital Management LLC boosted its position in Trade Desk by 5.4% in the fourth quarter. Yousif Capital Management LLC now owns 5,856 shares of the technology company’s stock worth $688,000 after purchasing an additional 300 shares during the last quarter. 67.77% of the stock is owned by institutional investors.

Trade Desk Trading Up 1.9 %

Shares of TTD opened at $54.09 on Friday. The stock has a 50-day moving average price of $55.63 and a 200-day moving average price of $97.33. The company has a market cap of $26.83 billion, a PE ratio of 69.35, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56. The Trade Desk, Inc. has a 12-month low of $42.96 and a 12-month high of $141.53.

Trade Desk (NASDAQ:TTD) last issued 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, analysts predict 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 initiated a stock 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 usually an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have recently commented on TTD. UBS Group lowered their target price on Trade Desk from $116.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. HSBC set a $75.00 target price on shares of Trade Desk and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Citizens Jmp upgraded shares of Trade Desk to a “strong-buy” rating in a research note on Tuesday, January 21st. Benchmark upgraded Trade Desk from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Cfra Research raised Trade Desk to a “moderate buy” rating in a research report on Tuesday, March 25th. Seven investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $100.84.

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.