NewEdge Wealth LLC Has $3.08 Million Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

NewEdge Wealth LLC lowered its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 1.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 26,224 shares of the technology company’s stock after selling 422 shares during the period. NewEdge Wealth LLC’s holdings in Trade Desk were worth $3,082,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of TTD. Arkadios Wealth Advisors acquired a new position in Trade Desk during the third quarter worth approximately $302,000. abrdn plc increased its position in Trade Desk by 57.2% during the third quarter. abrdn plc now owns 79,618 shares of the technology company’s stock worth $8,730,000 after buying an additional 28,967 shares during the last quarter. Diversify Advisory Services LLC increased its position in Trade Desk by 33.1% during the third quarter. Diversify Advisory Services LLC now owns 3,891 shares of the technology company’s stock worth $463,000 after buying an additional 967 shares during the last quarter. SteelPeak Wealth LLC increased its position in Trade Desk by 34.5% during the third quarter. SteelPeak Wealth LLC now owns 2,895 shares of the technology company’s stock worth $317,000 after buying an additional 743 shares during the last quarter. Finally, JFS Wealth Advisors LLC increased its position in Trade Desk by 194.5% during the third quarter. JFS Wealth Advisors LLC now owns 374 shares of the technology company’s stock worth $41,000 after buying an additional 247 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on TTD. Piper Sandler reissued an “overweight” rating and set a $110.00 price target (down previously from $140.00) on shares of Trade Desk in a research report on Thursday, February 13th. Robert W. Baird lowered their price target on Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. KeyCorp boosted their price target on Trade Desk from $140.00 to $142.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Oppenheimer decreased their target price on Trade Desk from $135.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Finally, Morgan Stanley decreased their target price on Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $119.45.

Insiders Place Their Bets

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total value of $2,283,886.08. Following the completion of the transaction, the chief executive officer now directly owns 704,229 shares in the company, valued at approximately $88,338,485.76. This represents a 2.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of the 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 completion of the transaction, the insider now owns 90,709 shares of the company’s stock, valued at $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,029 shares of company stock worth $5,004,296 over the last three months. Insiders own 9.72% of the company’s stock.

Trade Desk Price Performance

NASDAQ TTD opened at $70.31 on Friday. The business has a fifty day moving average price of $110.70 and a two-hundred day moving average price of $114.44. The Trade Desk, Inc. has a fifty-two week low of $69.37 and a fifty-two week high of $141.53. The stock has a market capitalization of $34.70 billion, a PE ratio of 90.14, a PEG ratio of 3.11 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last released 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%. As a group, sell-side analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its board has authorized a share buyback plan on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

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.