Jacksonville Wealth Management LLC Acquires New Position in The Trade Desk, Inc. (NASDAQ:TTD)

Jacksonville Wealth Management LLC acquired a new stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,211 shares of the technology company’s stock, valued at approximately $1,318,000. Trade Desk comprises about 1.2% of Jacksonville Wealth Management LLC’s investment portfolio, making the stock its 21st biggest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Juncture Wealth Strategies LLC boosted its holdings in Trade Desk by 2.2% in the 4th quarter. Juncture Wealth Strategies LLC now owns 6,639 shares of the technology company’s stock worth $780,000 after buying an additional 143 shares during the period. Linden Thomas Advisory Services LLC boosted its holdings in shares of Trade Desk by 6.5% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 24,394 shares of the technology company’s stock worth $2,867,000 after acquiring an additional 1,479 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of Trade Desk by 16.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 35,214 shares of the technology company’s stock worth $4,139,000 after acquiring an additional 5,056 shares during the period. Fifth Third Bancorp grew its position in shares of Trade Desk by 86.6% in the fourth quarter. Fifth Third Bancorp now owns 31,534 shares of the technology company’s stock valued at $3,706,000 after purchasing an additional 14,635 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Trade Desk during the 4th quarter valued at $63,000. Institutional investors own 67.77% of the company’s stock.

Wall Street Analyst Weigh In

TTD has been the subject of a number of recent analyst reports. JMP Securities initiated coverage on Trade Desk in a report on Tuesday, January 21st. They set a “mkt outperform” rating and a $150.00 target price for the company. Citigroup boosted their price objective on shares of Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Susquehanna reiterated a “positive” rating and issued a $150.00 target price on shares of Trade Desk in a research note on Thursday, November 21st. Oppenheimer raised their price target on shares of Trade Desk from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $140.00 price target (up previously from $110.00) on shares of Trade Desk in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $133.13.

Trade Desk Price Performance

TTD opened at $119.96 on Friday. The stock’s 50 day simple moving average is $125.84 and its 200 day simple moving average is $113.56. The firm has a market cap of $59.21 billion, a price-to-earnings ratio of 196.66, a PEG ratio of 3.82 and a beta of 1.45. The Trade Desk, Inc. has a 1 year low of $66.56 and a 1 year high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, November 7th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.21). Trade Desk had a return on equity of 13.17% and a net margin of 13.34%. The firm had revenue of $628.02 million during the quarter, compared to the consensus estimate of $619.89 million. During the same quarter in the prior year, the business posted $0.08 EPS. As a group, sell-side analysts anticipate that The Trade Desk, Inc. will post 0.87 EPS for the current year.

Insider Buying and Selling at Trade Desk

In related news, CEO Jeffrey Terry Green sold 512,953 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $124.67, for a total value of $63,949,850.51. Following the completion of the sale, the chief executive officer now owns 243,476 shares of the company’s stock, valued at $30,354,152.92. This trade represents a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the transaction, the insider now directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 549,684 shares of company stock worth $68,444,576. 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.