Edgestream Partners L.P. Buys Shares of 31,121 The Trade Desk $TTD

Edgestream Partners L.P. purchased a new stake in The Trade Desk (NASDAQ:TTD) during the second quarter, according to its most recent filing with the SEC. The firm purchased 31,121 shares of the technology company’s stock, valued at approximately $2,240,000.

Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in Trade Desk by 52.1% in the second quarter. Geode Capital Management LLC now owns 12,314,817 shares of the technology company’s stock valued at $884,860,000 after purchasing an additional 4,218,975 shares during the last quarter. Nuveen LLC purchased a new position in shares of Trade Desk in the 1st quarter worth approximately $191,935,000. Norges Bank purchased a new position in shares of Trade Desk in the 2nd quarter worth approximately $197,362,000. Jennison Associates LLC raised its stake in shares of Trade Desk by 17.9% during the 2nd quarter. Jennison Associates LLC now owns 14,267,457 shares of the technology company’s stock worth $1,027,114,000 after acquiring an additional 2,169,252 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Trade Desk by 3.7% during the first quarter. Vanguard Group Inc. now owns 44,237,745 shares of the technology company’s stock valued at $2,420,689,000 after acquiring an additional 1,567,491 shares during the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Trade Desk news, Director Andrea Lee Cunningham sold 1,403 shares of Trade Desk stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $48.20, for a total transaction of $67,624.60. Following the completion of the transaction, the director owned 5,035 shares in the company, valued at approximately $242,687. This trade represents a 21.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 10.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on TTD shares. JMP Securities set a $60.00 price target on shares of Trade Desk and gave the stock a “market outperform” rating in a report on Tuesday, September 30th. Rosenblatt Securities dropped their target price on Trade Desk from $78.00 to $64.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Stifel Nicolaus reduced their target price on Trade Desk from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, August 8th. Hsbc Global Res downgraded Trade Desk from a “strong-buy” rating to a “hold” rating in a report on Monday, August 11th. Finally, Wells Fargo & Company dropped their price target on Trade Desk from $53.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Friday, November 7th. Twenty-one analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $77.19.

Trade Desk Stock Up 1.9%

Shares of NASDAQ:TTD opened at $39.35 on Friday. The Trade Desk has a 52-week low of $38.22 and a 52-week high of $139.34. The stock has a market cap of $19.03 billion, a price-to-earnings ratio of 45.23, a PEG ratio of 1.92 and a beta of 1.07. The business has a 50-day moving average price of $46.80 and a 200-day moving average price of $59.87.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, November 6th. The technology company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. Trade Desk had a return on equity of 16.00% and a net margin of 15.72%.The firm had revenue of $739.43 million for the quarter, compared to analyst estimates of $719.11 million. During the same quarter in the prior year, the firm earned $0.41 earnings per share. Trade Desk’s revenue for the quarter was up 17.7% on a year-over-year basis. As a group, equities analysts anticipate that The Trade Desk will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its Board of Directors has initiated a stock repurchase program on Thursday, November 6th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to reacquire up to 2.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Trade Desk Company 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.