Ethic Inc. more than quadrupled its position in The Trade Desk during the third quarter, boosting its stake by 295.3% to 22,363 shares after adding 16,706 shares valued at approximately $1.10 million. Other notable moves include Brighton Jones LLC’s 3.8% increase to 4,586 shares (worth $539,000), Bison Wealth LLC’s 24.3% rise to 2,480 shares ($291,000), the State of Wyoming’s establishment of a new $80,000 position, Federation des caisses Desjardins du Quebec’s incremental 0.6% lift to 41,510 shares ($2.27 million) and EFG Asset Management North America’s 10.7% boost to 40,201 shares ($2.20 million). Institutional and hedge fund ownership now accounts for 67.77% of outstanding stock, underscoring strong confidence from professional investors.

Equity research firms have issued mixed guidance on The Trade Desk. Wells Fargo & Company adjusted its target down from 53.00 to 47.00 and maintained an equal weight rating. Guggenheim affirmed a buy rating with a 55.00 objective, while Royal Bank of Canada and Evercore ISI both assigned outperform ratings, with the latter trimming its target to 70.00. Citigroup reiterated its outperform stance. Among 35 surveyed analysts, 20 recommend buying, 12 advise holding and 3 suggest selling, yielding a consensus rating of Hold and an average target of 74.03.

In its third-quarter report, The Trade Desk delivered adjusted earnings of 0.45 per share, beating the consensus estimate by 0.01 and representing a 9.8% year-over-year increase. Revenue reached 739.43 million, topping forecasts by over 20 million and marking a 17.7% jump versus the prior year. The company achieved a net margin of 15.72% and returned 16.00% on equity, driven by strong demand across connected TV and programmatic channels.

On November 6, the board approved a new repurchase program authorizing up to 500 million for share repurchases, equivalent to approximately 2.1% of the company’s outstanding equity. Management indicated this program reflects a view that the stock remains undervalued and underscores confidence in long-term free cash flow generation and return of capital strategy.