Independent Advisor Alliance Acquires 2,670 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Independent Advisor Alliance lifted its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 7.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 40,024 shares of the technology company’s stock after purchasing an additional 2,670 shares during the quarter. Independent Advisor Alliance’s holdings in Trade Desk were worth $4,704,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Edgewood Management LLC lifted its stake in Trade Desk by 133.3% during the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock worth $1,089,280,000 after purchasing an additional 5,675,571 shares during the period. Jennison Associates LLC raised its holdings in shares of Trade Desk by 11.0% in the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after buying an additional 2,013,047 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Trade Desk during the 4th quarter worth approximately $231,570,000. Baillie Gifford & Co. boosted its stake in Trade Desk by 4.7% in the 3rd quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock valued at $4,245,218,000 after buying an additional 1,720,650 shares in the last quarter. Finally, National Pension Service grew its position in Trade Desk by 104.1% in the fourth quarter. National Pension Service now owns 1,264,985 shares of the technology company’s stock valued at $148,674,000 after acquiring an additional 645,240 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Stock Down 2.4 %

Shares of Trade Desk stock opened at $58.84 on Wednesday. The business has a fifty day simple moving average of $102.74 and a 200 day simple moving average of $112.90. The stock has a market cap of $29.19 billion, a PE ratio of 75.44, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 12 month low of $58.57 and a 12 month high of $141.53.

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

Trade Desk declared that its board has authorized a stock buyback plan on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 0.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total value 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. The trade was a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the sale, the insider now 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. Over the last 90 days, insiders sold 41,029 shares of company stock worth $5,004,296. 9.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on TTD. BMO Capital Markets cut their price objective on Trade Desk from $160.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Macquarie lifted their price target on shares of Trade Desk from $133.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $110.00 price objective (down from $140.00) on shares of Trade Desk in a research note on Thursday, February 13th. Cantor Fitzgerald cut their target price on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Finally, Wells Fargo & Company decreased their price target on Trade Desk from $142.00 to $101.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $119.45.

Trade Desk 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.