TD Private Client Wealth LLC Grows Position in The Trade Desk, Inc. (NASDAQ:TTD)

TD Private Client Wealth LLC grew its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 1,073.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,465 shares of the technology company’s stock after acquiring an additional 2,255 shares during the quarter. TD Private Client Wealth LLC’s holdings in Trade Desk were worth $290,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in TTD. FMR LLC lifted its position in Trade Desk by 1.3% during the third quarter. FMR LLC now owns 2,616,203 shares of the technology company’s stock worth $286,867,000 after buying an additional 32,999 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Trade Desk by 3.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,109,380 shares of the technology company’s stock valued at $231,294,000 after purchasing an additional 68,206 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Trade Desk by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,019,707 shares of the technology company’s stock valued at $237,376,000 after buying an additional 5,080 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Trade Desk during the 4th quarter worth $231,570,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Trade Desk by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,875,139 shares of the technology company’s stock worth $220,385,000 after buying an additional 95,489 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Stock Performance

TTD stock opened at $59.34 on Tuesday. The stock’s fifty day moving average is $89.97 and its two-hundred day moving average is $109.60. The stock has a market capitalization of $29.44 billion, a price-to-earnings ratio of 76.08, a PEG ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 1 year low of $53.39 and a 1 year high of $141.53.

Trade Desk (NASDAQ:TTD) last posted its earnings results 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%. As a group, analysts predict that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its Board of Directors has authorized a share buyback program on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have commented on TTD shares. Benchmark upgraded Trade Desk from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Truist Financial reduced their price objective on Trade Desk from $155.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. UBS Group increased their target price on Trade Desk from $116.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Piper Sandler reissued an “overweight” rating and set a $110.00 price target (down from $140.00) on shares of Trade Desk in a research report on Thursday, February 13th. Finally, Stifel Nicolaus dropped their price objective on shares of Trade Desk from $144.00 to $122.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Trade Desk has an average rating of “Moderate Buy” and an average price target of $116.41.

Insider Buying and Selling

In other news, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the transaction, the insider now owns 90,709 shares of the company’s stock, valued at $10,754,459.04. The trade was a 4.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the completion of the transaction, the chief executive officer now directly owns 704,229 shares in the company, valued at $88,338,485.76. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,029 shares of company stock valued at $5,004,296 in the last three months. 9.72% of the stock is currently owned by corporate insiders.

About Trade Desk

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.