542 Shares in The Trade Desk, Inc. (NASDAQ:TTD) Bought by Summit Securities Group LLC

Summit Securities Group LLC bought a new position in The Trade Desk, Inc. (NASDAQ:TTD) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 542 shares of the technology company’s stock, valued at approximately $64,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TTD. Rialto Wealth Management LLC acquired a new position in shares of Trade Desk during the fourth quarter worth approximately $26,000. Harbor Investment Advisory LLC increased its position in Trade Desk by 68.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after acquiring an additional 117 shares during the period. Synergy Asset Management LLC bought a new position in Trade Desk during the fourth quarter worth $34,000. Midwest Capital Advisors LLC acquired a new position in Trade Desk during the 4th quarter valued at $34,000. Finally, Zions Bancorporation N.A. boosted its holdings in Trade Desk by 148.3% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after purchasing an additional 175 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Insider Activity

In related news, insider Samantha Jacobson sold 4,298 shares of the 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 sale, the insider now directly owns 90,709 shares in the company, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk 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 transaction, the chief executive officer now directly owns 704,229 shares in the company, valued at $88,338,485.76. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. 9.72% of the stock is currently owned by company insiders.

Trade Desk Trading Down 2.5 %

Shares of NASDAQ:TTD opened at $55.85 on Monday. The stock has a market capitalization of $27.71 billion, a P/E ratio of 71.60, a P/E/G ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 1-year low of $53.39 and a 1-year high of $141.53. The business has a 50-day moving average price of $85.01 and a two-hundred day moving average price of $108.42.

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 analysts predict that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk declared that its board has authorized a stock buyback program on Wednesday, February 12th that allows the company to buyback $564.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $110.00 price objective (down previously from $140.00) on shares of Trade Desk in a research report on Thursday, February 13th. Oppenheimer cut their price target on Trade Desk from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. BMO Capital Markets decreased their price objective on Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Needham & Company LLC restated a “buy” rating and issued a $145.00 target price on shares of Trade Desk in a research note on Thursday, March 13th. Finally, Royal Bank of Canada decreased their price target on shares of Trade Desk from $120.00 to $100.00 and set an “outperform” rating on the stock in a research note on Monday, March 17th. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $116.41.

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.