Principal Securities Inc. Raises Position in The Trade Desk, Inc. (NASDAQ:TTD)

Principal Securities Inc. lifted its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 6.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,675 shares of the technology company’s stock after purchasing an additional 496 shares during the period. Principal Securities Inc.’s holdings in Trade Desk were worth $902,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Harbor Investment Advisory LLC increased its stake in shares of Trade Desk by 68.8% during 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 last quarter. Exchange Traded Concepts LLC purchased a new position in Trade Desk in the 4th quarter valued at approximately $35,000. Synergy Asset Management LLC purchased a new position in Trade Desk in the 4th quarter valued at approximately $34,000. Avior Wealth Management LLC grew its stake in Trade Desk by 37.7% in the 3rd quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock valued at $40,000 after buying an additional 100 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its stake in Trade Desk by 194.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 374 shares of the technology company’s stock valued at $41,000 after buying an additional 247 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Trade Desk Trading Down 1.3 %

Trade Desk stock opened at $75.73 on Friday. The firm has a market cap of $37.38 billion, a P/E ratio of 97.09, a P/E/G ratio of 3.28 and a beta of 1.45. The Trade Desk, Inc. has a 1-year low of $74.10 and a 1-year high of $141.53. The firm has a 50-day moving average of $116.48 and a 200-day moving average of $114.96.

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 return on equity of 16.38% and a net margin of 16.08%. Research 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 of Directors has approved a stock repurchase plan on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TTD. Stifel Nicolaus reduced their price objective on shares of Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. DA Davidson reduced their price objective on shares of Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Evercore ISI lowered shares of Trade Desk from an “outperform” rating to an “inline” rating and reduced their price objective for the company from $135.00 to $90.00 in a research note on Thursday, February 13th. Macquarie lifted their price objective on shares of Trade Desk from $133.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, BMO Capital Markets reduced their price target on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $119.45.

Insider Activity at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the firm’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 completion of the transaction, the chief executive officer now owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction 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 directly owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,029 shares of company stock worth $5,004,296 over the last quarter. Corporate insiders own 9.72% of the company’s stock.

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.