Oppenheimer Asset Management Inc. Sells 10,080 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Oppenheimer Asset Management Inc. decreased its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 5.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 159,464 shares of the technology company’s stock after selling 10,080 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Trade Desk were worth $18,742,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Ithaka Group LLC grew its stake in Trade Desk by 4.5% during the third quarter. Ithaka Group LLC now owns 112,888 shares of the technology company’s stock valued at $12,378,000 after acquiring an additional 4,836 shares in the last quarter. Lyell Wealth Management LP grew its stake in Trade Desk by 24.3% during the fourth quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock valued at $11,558,000 after acquiring an additional 19,204 shares in the last quarter. Nordea Investment Management AB grew its stake in Trade Desk by 36.2% during the fourth quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock valued at $159,132,000 after acquiring an additional 358,350 shares in the last quarter. Assetmark Inc. grew its stake in Trade Desk by 2,461.2% in the 3rd quarter. Assetmark Inc. now owns 73,559 shares of the technology company’s stock worth $8,066,000 after buying an additional 70,687 shares in the last quarter. Finally, Swiss National Bank grew its stake in Trade Desk by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,321,400 shares of the technology company’s stock worth $144,892,000 after buying an additional 4,500 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

Trade Desk Price Performance

Shares of TTD opened at $72.43 on Thursday. The Trade Desk, Inc. has a 1 year low of $70.44 and a 1 year high of $141.53. The company has a 50 day simple moving average of $111.79 and a two-hundred day simple moving average of $114.74. The firm has a market cap of $35.75 billion, a P/E ratio of 92.86, a price-to-earnings-growth ratio of 3.11 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. On average, sell-side analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its board has authorized a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

TTD has been the subject of a number of research reports. Loop Capital cut their price target on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Oppenheimer cut their price target on shares of Trade Desk from $135.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Wells Fargo & Company lowered their price objective on shares of Trade Desk from $142.00 to $101.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Truist Financial lowered their price objective on shares of Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, Stifel Nicolaus lowered their price objective on shares of Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.45.

Insiders Place Their Bets

In other news, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the sale, the insider now directly owns 90,709 shares in the company, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $119.35, for a total value of $2,210,839.40. Following the completion of the sale, the insider now owns 169,464 shares of the company’s stock, valued at $20,225,528.40. The trade was a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,029 shares of company stock valued at $5,004,296 over the last three months. 9.72% of the stock is owned by company insiders.

Trade Desk Company Profile

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company offers a self-service cloud-based platform that allows buyers to plan, manage, optimize, and measure data-driven digital advertising campaigns across various ad formats and channels, including video, display, audio, digital-out-of-home, native, and social on various devices, such as computers, mobile devices, televisions, and streaming devices.