Canopy Partners LLC Raises Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Canopy Partners LLC grew its position in The Trade Desk, Inc. (NASDAQ:TTD) by 129.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,299 shares of the technology company’s stock after buying an additional 2,985 shares during the period. Canopy Partners LLC’s holdings in Trade Desk were worth $623,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Lyell Wealth Management LP boosted its position in shares of Trade Desk by 24.3% during the 4th quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock worth $11,558,000 after purchasing an additional 19,204 shares during the period. Nordea Investment Management AB increased its stake in shares of Trade Desk by 36.2% during the fourth quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock worth $159,132,000 after buying an additional 358,350 shares during the period. Assenagon Asset Management S.A. raised its holdings in Trade Desk by 276.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company’s stock valued at $8,255,000 after acquiring an additional 51,603 shares in the last quarter. Independent Solutions Wealth Management LLC lifted its stake in Trade Desk by 21.0% in the third quarter. Independent Solutions Wealth Management LLC now owns 64,358 shares of the technology company’s stock worth $7,057,000 after acquiring an additional 11,181 shares during the last quarter. Finally, Moody National Bank Trust Division purchased a new stake in shares of Trade Desk in the 4th quarter valued at approximately $985,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trade Desk

In related news, 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 transaction of $509,570.88. Following the transaction, the insider now owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 completion of the sale, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at $88,338,485.76. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.72% of the stock is currently owned by insiders.

Trade Desk Price Performance

Trade Desk stock opened at $46.24 on Monday. The Trade Desk, Inc. has a 1-year low of $44.27 and a 1-year high of $141.53. The stock’s 50 day moving average price is $78.11 and its 200 day moving average price is $106.54. The company has a market cap of $22.94 billion, a PE ratio of 59.28, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (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%. On average, equities research analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its board has approved a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Citizens Jmp raised shares of Trade Desk to a “strong-buy” rating in a research report on Tuesday, January 21st. Royal Bank of Canada dropped their price objective on Trade Desk from $120.00 to $100.00 and set an “outperform” rating on the stock in a report on Monday, March 17th. Wolfe Research increased their price target on shares of Trade Desk from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Loop Capital reduced their price objective on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Finally, KeyCorp lowered their target price on shares of Trade Desk from $130.00 to $74.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $114.38.

Trade Desk Company 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.