The Trade Desk, Inc. (NASDAQ:TTD) Shares Acquired by Nemes Rush Group LLC

Nemes Rush Group LLC raised its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 173.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,502 shares of the technology company’s stock after buying an additional 5,391 shares during the quarter. Nemes Rush Group LLC’s holdings in Trade Desk were worth $999,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in TTD. Rialto Wealth Management LLC purchased a new stake in Trade Desk during the 4th quarter worth $26,000. Harbor Investment Advisory LLC boosted its position in shares of Trade Desk by 68.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after buying an additional 117 shares during the period. Synergy Asset Management LLC acquired a new stake in shares of Trade Desk in the fourth quarter valued at about $34,000. Midwest Capital Advisors LLC purchased a new stake in shares of Trade Desk during the 4th quarter valued at about $34,000. Finally, Zions Bancorporation N.A. lifted its position in Trade Desk by 148.3% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock worth $34,000 after acquiring an additional 175 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wedbush lifted their price target on shares of Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Piper Sandler reaffirmed an “overweight” rating and set a $110.00 target price (down from $140.00) on shares of Trade Desk in a research report on Thursday, February 13th. Loop Capital reduced their price target on Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Evercore ISI downgraded Trade Desk from an “outperform” rating to an “inline” rating and dropped their price objective for the stock from $135.00 to $90.00 in a report on Thursday, February 13th. Finally, Stifel Nicolaus reduced their target price on Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $115.41.

Trade Desk Trading Down 2.0 %

Shares of NASDAQ:TTD opened at $54.72 on Tuesday. The stock has a market capitalization of $27.15 billion, a PE ratio of 70.15, a P/E/G ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 1 year low of $52.90 and a 1 year high of $141.53. The firm has a fifty day moving average price of $83.62 and a 200 day moving average price of $108.07.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share 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 forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its board has initiated a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Insider Activity at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the sale, the insider now directly owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the transaction, the chief executive officer now directly owns 704,229 shares in the company, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. 9.72% of the stock is currently owned by company 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.