The Trade Desk, Inc. (NASDAQ:TTD) Shares Acquired by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC lifted its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 9.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,231 shares of the technology company’s stock after purchasing an additional 192 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Trade Desk were worth $262,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Kirtland Hills Capital Management LLC boosted its holdings in shares of Trade Desk by 10.0% during the fourth quarter. Kirtland Hills Capital Management LLC now owns 11,479 shares of the technology company’s stock worth $1,349,000 after purchasing an additional 1,040 shares during the last quarter. ARK Investment Management LLC raised its position in shares of Trade Desk by 0.4% in the 4th quarter. ARK Investment Management LLC now owns 1,271,113 shares of the technology company’s stock worth $149,394,000 after buying an additional 5,548 shares during the period. Amalgamated Bank raised its position in shares of Trade Desk by 1.8% in the 4th quarter. Amalgamated Bank now owns 30,070 shares of the technology company’s stock worth $3,534,000 after buying an additional 537 shares during the period. Bank of New York Mellon Corp raised its position in shares of Trade Desk by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,019,707 shares of the technology company’s stock worth $237,376,000 after buying an additional 5,080 shares during the period. Finally, IFP Advisors Inc raised its position in shares of Trade Desk by 69.1% in the 4th quarter. IFP Advisors Inc now owns 10,044 shares of the technology company’s stock worth $1,180,000 after buying an additional 4,104 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on TTD shares. DA Davidson cut their target price on Trade Desk from $134.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. KeyCorp increased their target price on Trade Desk from $140.00 to $142.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Wedbush increased their target price on Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Cantor Fitzgerald cut their target price on Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Finally, Truist Financial cut their target price on Trade Desk from $155.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Trade Desk has an average rating of “Moderate Buy” and an average target price of $119.45.

Insider Activity at Trade Desk

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction that occurred 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 directly owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction that occurred 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 trade represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,029 shares of company stock valued at $5,004,296 over the last three months. 9.72% of the stock is owned by insiders.

Trade Desk Stock Down 1.7 %

Shares of Trade Desk stock opened at $70.31 on Friday. The firm has a market cap of $34.70 billion, a P/E ratio of 90.14, a P/E/G ratio of 3.11 and a beta of 1.45. The Trade Desk, Inc. has a fifty-two week low of $69.37 and a fifty-two week high of $141.53. The business has a 50-day moving average price of $110.70 and a 200 day moving average price of $114.44.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data 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%. As a group, equities research analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk declared that its board has approved a stock buyback plan on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to purchase 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 shares are 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.