Cornerstone Wealth Group LLC Acquires New Position in The Trade Desk, Inc. (NASDAQ:TTD)

Cornerstone Wealth Group LLC acquired a new stake in The Trade Desk, Inc. (NASDAQ:TTD) during the 4th quarter, Holdings Channel reports. The firm acquired 4,130 shares of the technology company’s stock, valued at approximately $485,000.

A number of other institutional investors have also added to or reduced their stakes in TTD. CAP Partners LLC grew its stake in Trade Desk by 1.4% during the third quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock valued at $702,000 after acquiring an additional 86 shares in the last quarter. RMR Wealth Builders grew its position in shares of Trade Desk by 0.8% during the fourth quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock valued at $1,247,000 after purchasing an additional 89 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Trade Desk by 2.7% in the third quarter. Allworth Financial LP now owns 3,738 shares of the technology company’s stock worth $410,000 after purchasing an additional 97 shares during the last quarter. Parisi Gray Wealth Management lifted its position in shares of Trade Desk by 2.2% in the fourth quarter. Parisi Gray Wealth Management now owns 4,534 shares of the technology company’s stock worth $533,000 after buying an additional 99 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its stake in Trade Desk by 37.7% during the third quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock valued at $40,000 after buying an additional 100 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the sale, the chief executive officer now directly owns 704,229 shares in the company, valued at approximately $88,338,485.76. This trade represents 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 the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the transaction, the insider now owns 169,464 shares of the company’s stock, 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. Insiders sold 549,684 shares of company stock valued at $68,444,576 over the last 90 days. Corporate insiders own 9.72% of the company’s stock.

Trade Desk Trading Down 0.7 %

TTD opened at $119.10 on Tuesday. The company has a market capitalization of $58.78 billion, a price-to-earnings ratio of 195.25, a PEG ratio of 3.82 and a beta of 1.45. The Trade Desk, Inc. has a 12-month low of $66.56 and a 12-month high of $141.53. The business’s fifty day simple moving average is $125.87 and its 200-day simple moving average is $113.80.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, November 7th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.21). Trade Desk had a return on equity of 13.17% and a net margin of 13.34%. The business had revenue of $628.02 million for the quarter, compared to the consensus estimate of $619.89 million. During the same quarter in the previous year, the company earned $0.08 earnings per share. On average, equities research analysts predict that The Trade Desk, Inc. will post 0.87 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TTD. Oppenheimer lifted their price objective on Trade Desk from $120.00 to $135.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Macquarie lifted their price objective on shares of Trade Desk from $133.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Robert W. Baird boosted their target price on shares of Trade Desk from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. KeyCorp increased their price target on shares of Trade Desk from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, January 10th. Finally, Wedbush boosted their price objective on Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $133.13.

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.