Charles Schwab Investment Management Inc. Increases Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Charles Schwab Investment Management Inc. increased its position in The Trade Desk, Inc. (NASDAQ:TTD) by 5.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,875,139 shares of the technology company’s stock after buying an additional 95,489 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.38% of Trade Desk worth $220,385,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TTD. Harbor Investment Advisory LLC raised its holdings in shares of Trade Desk by 68.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after purchasing an additional 117 shares during the period. Synergy Asset Management LLC acquired a new stake in Trade Desk during the 4th quarter worth approximately $34,000. Midwest Capital Advisors LLC acquired a new stake in Trade Desk during the 4th quarter worth approximately $34,000. Exchange Traded Concepts LLC purchased a new position in Trade Desk in the fourth quarter valued at approximately $35,000. Finally, Kestra Investment Management LLC acquired a new position in Trade Desk during the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Trading Down 2.3 %

Shares of TTD opened at $64.98 on Friday. The Trade Desk, Inc. has a 52 week low of $64.56 and a 52 week high of $141.53. The firm has a market cap of $32.24 billion, a price-to-earnings ratio of 83.31, a PEG ratio of 3.11 and a beta of 1.45. The stock has a 50 day moving average of $106.24 and a 200-day moving average of $113.67.

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

Trade Desk announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TTD. Cantor Fitzgerald cut their target price on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Stifel Nicolaus cut their price objective on Trade Desk from $144.00 to $122.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Piper Sandler restated an “overweight” rating and set a $110.00 price objective (down previously from $140.00) on shares of Trade Desk in a research note on Thursday, February 13th. Susquehanna lowered their target price on Trade Desk from $150.00 to $135.00 and set a “positive” rating for the company in a research note on Thursday, February 13th. Finally, Benchmark reissued a “sell” rating and set a $57.00 price target on shares of Trade Desk in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Trade Desk presently has an average rating of “Moderate Buy” and a consensus target price of $119.45.

Insider Activity

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

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.