PDS Planning Inc Buys New Shares in The Trade Desk, Inc. (NASDAQ:TTD)

PDS Planning Inc purchased a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,830 shares of the technology company’s stock, valued at approximately $215,000.

A number of other hedge funds also recently made changes to their positions in the stock. Kensington Investment Counsel LLC raised its holdings in shares of Trade Desk by 0.5% in the 4th quarter. Kensington Investment Counsel LLC now owns 37,404 shares of the technology company’s stock worth $4,396,000 after purchasing an additional 179 shares during the period. Nikko Asset Management Americas Inc. raised its holdings in Trade Desk by 10.3% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 807,479 shares of the technology company’s stock valued at $94,863,000 after buying an additional 75,199 shares during the period. IMG Wealth Management Inc. acquired a new position in Trade Desk during the fourth quarter valued at approximately $97,000. GWN Securities Inc. purchased a new stake in Trade Desk during the fourth quarter worth approximately $469,000. Finally, Glenview Trust co increased its position in shares of Trade Desk by 13.4% in the fourth quarter. Glenview Trust co now owns 2,575 shares of the technology company’s stock worth $303,000 after acquiring an additional 305 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Insiders Place Their Bets

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction 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 owns 704,229 shares in the company, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction 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 in the company, 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. In the last 90 days, insiders sold 41,029 shares of company stock worth $5,004,296. Insiders own 9.72% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. StockNews.com cut shares of Trade Desk from a “buy” rating to a “hold” rating in a research report on Saturday, November 30th. Morgan Stanley lowered their target price on Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Scotiabank decreased their price target on Trade Desk from $133.00 to $83.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. Cantor Fitzgerald dropped their price objective on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Finally, New Street Research upgraded shares of Trade Desk from a “sell” rating to a “neutral” rating and upped their target price for the company from $85.00 to $115.00 in a research note on Monday, November 25th. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.41.

Trade Desk Trading Up 3.2 %

Shares of NASDAQ TTD opened at $55.32 on Thursday. The Trade Desk, Inc. has a 12-month low of $53.39 and a 12-month high of $141.53. The company has a market cap of $27.44 billion, a price-to-earnings ratio of 70.92, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The stock’s 50 day simple moving average is $93.70 and its 200 day simple moving average is $110.50.

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 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, equities analysts forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

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

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.