Coatue Management LLC Buys 388,100 Shares of The Trade Desk $TTD

Coatue Management LLC grew its position in The Trade Desk (NASDAQ:TTD) by 38.8% during the 3rd quarter, Holdings Channel reports. The firm owned 1,387,089 shares of the technology company’s stock after purchasing an additional 388,100 shares during the quarter. Coatue Management LLC’s holdings in Trade Desk were worth $67,981,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Capital Impact Advisors LLC acquired a new stake in shares of Trade Desk during the 3rd quarter worth about $7,812,000. Chevy Chase Trust Holdings LLC acquired a new position in Trade Desk in the third quarter valued at about $11,193,000. Clear Street Group Inc. acquired a new position in Trade Desk in the third quarter valued at about $10,571,000. Ausdal Financial Partners Inc. grew its stake in Trade Desk by 13.9% during the third quarter. Ausdal Financial Partners Inc. now owns 14,817 shares of the technology company’s stock worth $726,000 after buying an additional 1,813 shares during the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in shares of Trade Desk by 3.2% during the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 82,857 shares of the technology company’s stock worth $4,028,000 after buying an additional 2,578 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

Trade Desk Price Performance

Shares of NASDAQ TTD opened at $27.34 on Friday. The Trade Desk has a fifty-two week low of $21.08 and a fifty-two week high of $91.45. The firm has a market capitalization of $13.22 billion, a P/E ratio of 30.38, a P/E/G ratio of 1.08 and a beta of 1.13. The company’s 50 day simple moving average is $30.11 and its 200 day simple moving average is $40.01.

Trade Desk (NASDAQ:TTD) last released its earnings results on Wednesday, February 25th. The technology company reported $0.59 EPS for the quarter, hitting analysts’ consensus estimates of $0.59. The firm had revenue of $846.79 million during the quarter, compared to analyst estimates of $840.56 million. Trade Desk had a net margin of 15.31% and a return on equity of 16.89%. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 EPS. Sell-side analysts expect that The Trade Desk will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its Board of Directors has initiated a share buyback program on Wednesday, February 25th that authorizes the company to buyback $350.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 2.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity

In related news, Director Kathryn E. Falberg sold 102,828 shares of Trade Desk stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $30.45, for a total transaction of $3,131,112.60. Following the completion of the sale, the director directly owned 1,946 shares of the company’s stock, valued at $59,255.70. The trade was a 98.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Moffett Nathanson reiterated a “neutral” rating and issued a $32.00 target price on shares of Trade Desk in a research note on Thursday, February 26th. Oppenheimer decreased their price target on Trade Desk from $70.00 to $35.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th. Bank of America cut their price objective on Trade Desk from $49.00 to $40.00 and set an “underperform” rating for the company in a research report on Tuesday, January 20th. Truist Financial reduced their price objective on Trade Desk from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Finally, KeyCorp decreased their target price on Trade Desk from $40.00 to $35.00 and set an “overweight” rating on the stock in a report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, fifteen have issued a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, Trade Desk has a consensus rating of “Hold” and an average target price of $43.45.

Trade Desk Company 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.