State of Michigan Retirement System Takes Position in The Trade Desk $TTD

State of Michigan Retirement System purchased a new position in shares of The Trade Desk (NASDAQ:TTD) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 120,500 shares of the technology company’s stock, valued at approximately $5,906,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Trade Desk by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 44,554,852 shares of the technology company’s stock valued at $3,207,504,000 after acquiring an additional 317,107 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of Trade Desk by 327.3% during the second quarter. Nomura Asset Management Co. Ltd. now owns 1,121,436 shares of the technology company’s stock worth $80,732,000 after purchasing an additional 858,978 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Trade Desk by 62.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 173,743 shares of the technology company’s stock valued at $8,515,000 after buying an additional 66,672 shares in the last quarter. Panagora Asset Management Inc. raised its stake in Trade Desk by 22.9% during the 2nd quarter. Panagora Asset Management Inc. now owns 996,787 shares of the technology company’s stock worth $71,759,000 after buying an additional 185,552 shares during the period. Finally, Schroder Investment Management Group lifted its holdings in Trade Desk by 56.8% during the second quarter. Schroder Investment Management Group now owns 895,150 shares of the technology company’s stock worth $64,442,000 after acquiring an additional 324,173 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Susquehanna cut their price objective on Trade Desk from $135.00 to $85.00 and set a “positive” rating on the stock in a report on Friday, November 7th. Royal Bank Of Canada set a $80.00 price objective on shares of Trade Desk and gave the stock an “outperform” rating in a report on Friday, November 7th. BNP Paribas Exane initiated coverage on shares of Trade Desk in a research note on Wednesday, January 14th. They issued a “neutral” rating and a $40.00 target price for the company. KeyCorp reissued an “overweight” rating and issued a $40.00 price target (down previously from $88.00) on shares of Trade Desk in a research note on Tuesday, February 3rd. Finally, Citigroup decreased their price objective on Trade Desk from $50.00 to $38.00 and set a “neutral” rating for the company in a report on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, sixteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Trade Desk currently has a consensus rating of “Hold” and a consensus target price of $63.91.

Trade Desk Stock Performance

TTD opened at $27.04 on Tuesday. The business’s 50-day simple moving average is $35.83 and its 200 day simple moving average is $46.88. The Trade Desk has a 52-week low of $26.01 and a 52-week high of $125.80. The firm has a market capitalization of $13.08 billion, a PE ratio of 31.08, a PEG ratio of 1.06 and a beta of 1.10.

Trade Desk declared that its board has authorized a stock repurchase plan on Thursday, November 6th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are 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.