Oppenheimer & Co. Inc. Buys 5,688 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Oppenheimer & Co. Inc. lifted its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 11.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 56,958 shares of the technology company’s stock after acquiring an additional 5,688 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Trade Desk were worth $6,694,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Harbor Investment Advisory LLC increased its holdings in Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after purchasing an additional 117 shares during the period. Synergy Asset Management LLC bought a new position in shares of Trade Desk during the 4th quarter worth $34,000. Midwest Capital Advisors LLC purchased a new position in shares of Trade Desk during the fourth quarter valued at $34,000. Exchange Traded Concepts LLC bought a new stake in shares of Trade Desk in the fourth quarter valued at about $35,000. Finally, Kestra Investment Management LLC purchased a new stake in Trade Desk in the fourth quarter worth about $39,000. Institutional investors own 67.77% of the company’s stock.

Insider Activity

In other news, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the sale, the insider now owns 169,464 shares in the company, valued at $20,225,528.40. This represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey Terry Green sold 18,207 shares of the firm’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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock valued at $5,004,296 in the last ninety days. Insiders own 9.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Benchmark reissued a “sell” rating and set a $57.00 target price on shares of Trade Desk in a research report on Friday, November 8th. Morgan Stanley cut their price objective on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Scotiabank reduced their price objective on shares of Trade Desk from $133.00 to $83.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. Loop Capital dropped their target price on Trade Desk from $145.00 to $101.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Finally, Oppenheimer reduced their price target on Trade Desk from $135.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Trade Desk has an average rating of “Moderate Buy” and a consensus price target of $119.45.

Trade Desk Stock Performance

Trade Desk stock opened at $71.49 on Friday. The Trade Desk, Inc. has a fifty-two week low of $70.44 and a fifty-two week high of $141.53. The company has a market cap of $35.29 billion, a PE ratio of 91.65, a PEG ratio of 3.11 and a beta of 1.45. The business’s 50-day simple moving average is $110.70 and its two-hundred day simple moving average is $114.44.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates 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, analysts predict that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its board has initiated a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors 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.