Allworth Financial LP Boosts Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Allworth Financial LP raised its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 46.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,470 shares of the technology company’s stock after purchasing an additional 1,732 shares during the quarter. Allworth Financial LP’s holdings in Trade Desk were worth $660,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Harbor Investment Advisory LLC grew its stake 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 valued at $34,000 after buying an additional 117 shares in the last quarter. Synergy Asset Management LLC acquired a new position in Trade Desk during the 4th quarter worth $34,000. Exchange Traded Concepts LLC acquired a new position in Trade Desk during the 4th quarter worth $35,000. Avior Wealth Management LLC grew its stake in Trade Desk by 37.7% during the 3rd quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock worth $40,000 after purchasing an additional 100 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its stake in Trade Desk by 194.5% during the 3rd quarter. JFS Wealth Advisors LLC now owns 374 shares of the technology company’s stock worth $41,000 after purchasing an additional 247 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. DA Davidson lowered their price objective on Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. BMO Capital Markets lowered their price objective on Trade Desk from $160.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Macquarie upped their price objective on Trade Desk from $133.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. New Street Research raised Trade Desk from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $85.00 to $115.00 in a research report on Monday, November 25th. Finally, Piper Sandler reissued an “overweight” rating and issued a $110.00 target price (down from $140.00) on shares of Trade Desk 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 assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Trade Desk presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.45.

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 stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the sale, the insider now owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 704,229 shares in the company, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,029 shares of company stock worth $5,004,296. Corporate insiders own 9.72% of the company’s stock.

Trade Desk Price Performance

NASDAQ:TTD opened at $75.73 on Friday. The business’s 50-day moving average is $116.48 and its two-hundred day moving average is $114.96. The Trade Desk, Inc. has a 12 month low of $74.10 and a 12 month high of $141.53. The firm has a market capitalization of $37.38 billion, a PE ratio of 97.09, a price-to-earnings-growth ratio of 3.28 and a beta of 1.45.

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

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

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.