First Commonwealth Financial Corp PA Invests $435,000 in The Trade Desk, Inc. (NASDAQ:TTD)

First Commonwealth Financial Corp PA purchased a new stake in The Trade Desk, Inc. (NASDAQ:TTD) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,700 shares of the technology company’s stock, valued at approximately $435,000.

Several other large investors have also recently bought and sold shares of TTD. Lyell Wealth Management LP boosted its holdings in shares of Trade Desk by 24.3% during the fourth quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock worth $11,558,000 after acquiring an additional 19,204 shares during the period. Nordea Investment Management AB boosted its stake in Trade Desk by 36.2% in the 4th quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock valued at $159,132,000 after purchasing an additional 358,350 shares during the period. Assenagon Asset Management S.A. grew its holdings in Trade Desk by 276.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company’s stock valued at $8,255,000 after buying an additional 51,603 shares in the last quarter. Independent Solutions Wealth Management LLC increased its position in Trade Desk by 21.0% during the 3rd quarter. Independent Solutions Wealth Management LLC now owns 64,358 shares of the technology company’s stock worth $7,057,000 after buying an additional 11,181 shares during the period. Finally, Moody National Bank Trust Division bought a new position in Trade Desk during the 4th quarter worth $985,000. 67.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Truist Financial decreased their price target on shares of Trade Desk from $130.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday. Citizens Jmp upgraded shares of Trade Desk to a “strong-buy” rating in a research report on Tuesday, January 21st. 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 report on Thursday, February 13th. Loop Capital cut their target price on 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, Cfra Research upgraded Trade Desk to a “moderate buy” rating in a research report on Tuesday, March 25th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $104.10.

Trade Desk Stock Performance

Shares of NASDAQ TTD opened at $50.26 on Friday. The stock has a market cap of $24.93 billion, a P/E ratio of 64.44, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56. The firm has a 50 day moving average price of $62.92 and a two-hundred day moving average price of $102.01. The Trade Desk, Inc. has a 52-week low of $42.96 and a 52-week high of $141.53.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data 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 net margin of 16.08% and a return on equity of 16.38%. Analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to buy up to 0.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Trade Desk 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 completion of the transaction, the insider now owns 90,709 shares in the company, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.72% of the stock is owned by insiders.

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.