Algebris UK Ltd. Acquires Shares of 14,257 The Trade Desk $TTD

Algebris UK Ltd. bought a new stake in shares of The Trade Desk (NASDAQ:TTD) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 14,257 shares of the technology company’s stock, valued at approximately $698,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Cornerstone Wealth Group LLC raised its holdings in shares of Trade Desk by 2.8% during the second quarter. Cornerstone Wealth Group LLC now owns 4,457 shares of the technology company’s stock worth $321,000 after acquiring an additional 122 shares in the last quarter. STF Management LP increased its position in Trade Desk by 2.1% in the 2nd quarter. STF Management LP now owns 6,627 shares of the technology company’s stock worth $477,000 after purchasing an additional 136 shares during the last quarter. Mutual Advisors LLC increased its position in Trade Desk by 3.5% in the 2nd quarter. Mutual Advisors LLC now owns 4,239 shares of the technology company’s stock worth $305,000 after purchasing an additional 142 shares during the last quarter. HighMark Wealth Management LLC raised its stake in shares of Trade Desk by 46.2% during the 2nd quarter. HighMark Wealth Management LLC now owns 478 shares of the technology company’s stock worth $34,000 after purchasing an additional 151 shares in the last quarter. Finally, Brighton Jones LLC lifted its holdings in shares of Trade Desk by 3.8% during the 4th quarter. Brighton Jones LLC now owns 4,586 shares of the technology company’s stock valued at $539,000 after buying an additional 169 shares during the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TTD. Wells Fargo & Company set a $42.00 price objective on Trade Desk and gave the stock an “equal weight” rating in a report on Monday, January 12th. UBS Group restated a “buy” rating and set a $50.00 price target (down previously from $82.00) on shares of Trade Desk in a research note on Tuesday, January 20th. Wall Street Zen upgraded shares of Trade Desk from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Jefferies Financial Group set a $40.00 price objective on shares of Trade Desk and gave the stock a “hold” rating in a report on Thursday, December 11th. Finally, Needham & Company LLC lowered their target price on shares of Trade Desk from $84.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $67.76.

Trade Desk Stock Performance

Shares of NASDAQ:TTD opened at $36.55 on Monday. The stock’s 50-day moving average is $38.04 and its 200-day moving average is $50.81. The company has a market cap of $17.68 billion, a P/E ratio of 42.01, a P/E/G ratio of 1.43 and a beta of 1.11. The Trade Desk has a 52-week low of $34.00 and a 52-week high of $125.80.

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

Trade Desk declared that its Board of Directors has initiated a share buyback program on Thursday, November 6th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 2.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Trade Desk Profile

The Trade Desk, Inc (NASDAQ: TTD) is a technology company that provides a demand-side platform (DSP) for programmatic digital advertising. Its platform enables advertisers, agencies and other buyers to plan, purchase and measure ad inventory across digital channels, including display, video, mobile, audio, native and connected TV. By centralizing real‑time bidding, audience targeting and inventory access, the company aims to help clients optimize media spend and reach audiences at scale across publishers and ad exchanges.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk grew from a focus on programmatic display into a global ad‑tech provider.