Nissay Asset Management Corp Japan ADV Increases Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Nissay Asset Management Corp Japan ADV raised its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 6.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 100,160 shares of the technology company’s stock after buying an additional 5,648 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Trade Desk were worth $12,158,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rialto Wealth Management LLC bought a new position in shares of Trade Desk during the fourth quarter valued at $26,000. Harbor Investment Advisory LLC increased its holdings in Trade Desk by 68.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after buying an additional 117 shares in the last quarter. Synergy Asset Management LLC bought a new stake in Trade Desk in the 4th quarter worth about $34,000. Midwest Capital Advisors LLC bought a new stake in Trade Desk in the 4th quarter worth about $34,000. Finally, Zions Bancorporation N.A. increased its holdings in Trade Desk by 148.3% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock worth $34,000 after buying an additional 175 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Insider Transactions at Trade Desk

In other news, CEO Jeffrey Terry Green sold 26,684 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the sale, the chief executive officer now directly owns 17,018 shares of the company’s stock, valued at $1,361,950.54. This represents a 61.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 9.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TTD. Cfra Research upgraded Trade Desk to a “moderate buy” rating in a report on Tuesday, March 25th. Morgan Stanley lifted their price objective on Trade Desk from $60.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Citigroup lifted their price objective on Trade Desk from $63.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Scotiabank cut their price target on Trade Desk from $133.00 to $83.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. Finally, Wells Fargo & Company cut their price target on Trade Desk from $101.00 to $72.00 and set an “overweight” rating for the company in a research note on Monday, March 31st. Seven analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.88.

Trade Desk Trading Up 1.3%

NASDAQ TTD opened at $79.14 on Thursday. The stock’s 50 day moving average is $55.42 and its 200 day moving average is $94.49. The Trade Desk, Inc. has a 12 month low of $42.96 and a 12 month high of $141.53. The stock has a market cap of $39.26 billion, a PE ratio of 101.46, a P/E/G ratio of 3.11 and a beta of 1.29.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. The business had revenue of $616.02 million for the quarter, compared to analysts’ expectations of $575.62 million. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The company’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 EPS. On average, analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk announced 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 reacquire up to 0.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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.