Whipplewood Advisors LLC Purchases New Shares in The Trade Desk, Inc. (NASDAQ:TTD)

Whipplewood Advisors LLC purchased a new stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 736 shares of the technology company’s stock, valued at approximately $87,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TTD. 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 valued at $34,000 after purchasing an additional 117 shares in the last quarter. Synergy Asset Management LLC acquired a new stake in Trade Desk during the 4th quarter valued at $34,000. Midwest Capital Advisors LLC acquired a new stake in Trade Desk during the 4th quarter valued at $34,000. Exchange Traded Concepts LLC acquired a new stake in Trade Desk during the 4th quarter valued at $35,000. Finally, Kestra Investment Management LLC acquired a new stake in Trade Desk during the 4th quarter valued at $39,000. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Trading Down 1.7 %

TTD stock opened at $70.31 on Friday. The business’s 50-day moving average price is $110.70 and its two-hundred day moving average price is $114.44. The firm has a market cap of $34.70 billion, a PE ratio of 90.14, a P/E/G ratio of 3.11 and a beta of 1.45. The Trade Desk, Inc. has a 1-year low of $69.37 and a 1-year 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 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%. On average, analysts forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its board has initiated a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have commented on TTD. 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 research report on Thursday, February 13th. Needham & Company LLC reiterated a “buy” rating and issued a $145.00 price objective on shares of Trade Desk in a research report on Thursday, February 13th. Wolfe Research increased their price objective on Trade Desk from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Susquehanna decreased their price objective on Trade Desk from $150.00 to $135.00 and set a “positive” rating on the stock in a research report on Thursday, February 13th. Finally, Scotiabank decreased their price objective on Trade Desk from $133.00 to $83.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Trade Desk presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.45.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of Trade Desk 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 of the company’s stock, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction dated Tuesday, January 28th. The shares were 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 directly owns 90,709 shares in the company, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their position. 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 90 days. 9.72% of the stock is currently owned by company insiders.

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.