The Trade Desk, Inc. (NASDAQ:TTD) Shares Purchased by Ascent Wealth Partners LLC

Ascent Wealth Partners LLC grew its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 18.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,752 shares of the technology company’s stock after purchasing an additional 5,614 shares during the period. Ascent Wealth Partners LLC’s holdings in Trade Desk were worth $4,319,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Baillie Gifford & Co. raised its stake in shares of Trade Desk by 4.7% during the third quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock valued at $4,245,218,000 after purchasing an additional 1,720,650 shares during the period. Jennison Associates LLC raised its stake in shares of Trade Desk by 11.0% during the third quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock valued at $2,228,172,000 after purchasing an additional 2,013,047 shares during the period. Edgewood Management LLC raised its stake in shares of Trade Desk by 133.3% during the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock valued at $1,089,280,000 after purchasing an additional 5,675,571 shares during the period. FMR LLC raised its stake in shares of Trade Desk by 1.3% during the third quarter. FMR LLC now owns 2,616,203 shares of the technology company’s stock valued at $286,867,000 after purchasing an additional 32,999 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Trade Desk by 3.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,109,380 shares of the technology company’s stock valued at $231,294,000 after purchasing an additional 68,206 shares during the period. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Down 4.8 %

Shares of NASDAQ TTD opened at $72.06 on Friday. The firm’s 50-day simple moving average is $115.27 and its 200 day simple moving average is $115.09. The Trade Desk, Inc. has a fifty-two week low of $71.61 and a fifty-two week high of $141.53. The stock has a market cap of $35.57 billion, a P/E ratio of 92.38, a P/E/G ratio of 3.11 and a beta of 1.45.

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

Trade Desk declared that its board has authorized a stock buyback plan on Wednesday, February 12th that allows the company to buyback $564.00 million in outstanding shares. This buyback authorization allows the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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 dated 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 sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $119.35, for a total value of $2,210,839.40. Following the transaction, the insider now directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,029 shares of company stock worth $5,004,296. Company insiders own 9.72% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TTD. BMO Capital Markets dropped their price objective on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Loop Capital dropped their price target on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a research note on Thursday. Oppenheimer dropped their price target on shares of Trade Desk from $135.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. JMP Securities dropped their price target on shares of Trade Desk from $150.00 to $115.00 and set a “market outperform” rating for the company in a research note on Thursday, February 13th. Finally, KeyCorp lifted their price target on shares of Trade Desk from $140.00 to $142.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $119.45.

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.