Summit Investment Advisors Inc. Has $1.71 Million Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Summit Investment Advisors Inc. boosted its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 6.1% during the 4th quarter, HoldingsChannel reports. The fund owned 14,506 shares of the technology company’s stock after acquiring an additional 836 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Trade Desk were worth $1,705,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Trade Desk by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company’s stock valued at $5,015,035,000 after purchasing an additional 253,137 shares in the last quarter. Invesco Ltd. raised its position in Trade Desk by 2.6% in the 4th quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company’s stock valued at $930,477,000 after buying an additional 198,822 shares during the last quarter. Norges Bank bought a new stake in Trade Desk in the 4th quarter valued at approximately $524,187,000. FMR LLC boosted its position in Trade Desk by 44.8% during the 4th quarter. FMR LLC now owns 3,788,285 shares of the technology company’s stock worth $445,237,000 after acquiring an additional 1,172,082 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Trade Desk by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,019,707 shares of the technology company’s stock worth $237,376,000 after acquiring an additional 5,080 shares in the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Samantha Jacobson sold 4,298 shares of the firm’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 directly owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 9.72% of the company’s stock.

Trade Desk Trading Up 1.2 %

Shares of NASDAQ TTD opened at $49.24 on Wednesday. The business’s 50 day moving average is $65.74 and its 200-day moving average is $102.80. The firm has a market cap of $24.43 billion, a P/E ratio of 63.13, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56. The Trade Desk, Inc. has a 1-year low of $42.96 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 analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. Analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk announced that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Loop Capital cut their price objective on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Evercore ISI cut shares of Trade Desk from an “outperform” rating to an “inline” rating and cut their price target for the stock from $135.00 to $90.00 in a research report on Thursday, February 13th. Citigroup decreased their price objective on Trade Desk from $140.00 to $108.00 and set a “buy” rating for the company in a report on Thursday, February 13th. BMO Capital Markets dropped their target price on Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, Truist Financial decreased their price target on Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $109.69.

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.