Rhumbline Advisers Buys 338,188 Shares of The Trade Desk $TTD

Rhumbline Advisers raised its stake in The Trade Desk (NASDAQ:TTD) by 56.9% during the 3rd quarter, Holdings Channel reports. The fund owned 932,198 shares of the technology company’s stock after acquiring an additional 338,188 shares during the period. Rhumbline Advisers’ holdings in Trade Desk were worth $45,687,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of TTD. Geode Capital Management LLC grew its position in shares of 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. Norges Bank bought a new stake in Trade Desk in the 2nd quarter valued at $197,362,000. Viking Global Investors LP acquired a new position in Trade Desk in the 2nd quarter valued at $192,524,000. Jennison Associates LLC grew its holdings in Trade Desk by 17.9% in the 2nd quarter. Jennison Associates LLC now owns 14,267,457 shares of the technology company’s stock valued at $1,027,114,000 after buying an additional 2,169,252 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Trade Desk during the 2nd quarter worth $68,641,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Stock Down 1.3%

TTD stock opened at $25.81 on Friday. The company’s 50-day moving average price is $34.82 and its two-hundred day moving average price is $45.76. The firm has a market cap of $12.48 billion, a P/E ratio of 29.67, a P/E/G ratio of 1.03 and a beta of 1.10. The Trade Desk has a 12 month low of $25.64 and a 12 month high of $91.45.

Trade Desk declared that its board has initiated a share buyback plan on Thursday, November 6th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 2.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TTD shares. KeyCorp reissued an “overweight” rating and set a $40.00 target price (down previously from $88.00) on shares of Trade Desk in a report on Tuesday, February 3rd. Rosenblatt Securities dropped their price objective on shares of Trade Desk from $64.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, January 27th. Evercore cut their price objective on shares of Trade Desk from $80.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, November 7th. Cfra reaffirmed a “hold” rating and set a $40.00 target price on shares of Trade Desk in a report on Tuesday, January 27th. Finally, Susquehanna cut their price target on Trade Desk from $135.00 to $85.00 and set a “positive” rating for the company in a research note on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $61.45.

About Trade Desk

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.