Everhart Financial Group Inc. Buys 1,519 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Everhart Financial Group Inc. raised its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 17.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,162 shares of the technology company’s stock after purchasing an additional 1,519 shares during the quarter. Everhart Financial Group Inc.’s holdings in Trade Desk were worth $1,194,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Creative Planning raised its stake in Trade Desk by 10.6% in the 3rd quarter. Creative Planning now owns 129,599 shares of the technology company’s stock valued at $14,211,000 after acquiring an additional 12,384 shares during the period. Vontobel Holding Ltd. increased its holdings in shares of Trade Desk by 12.1% in the third quarter. Vontobel Holding Ltd. now owns 11,046 shares of the technology company’s stock valued at $1,211,000 after purchasing an additional 1,193 shares during the last quarter. Bleakley Financial Group LLC raised its position in shares of Trade Desk by 1.5% in the third quarter. Bleakley Financial Group LLC now owns 29,933 shares of the technology company’s stock valued at $3,282,000 after purchasing an additional 445 shares during the period. Secure Asset Management LLC acquired a new stake in shares of Trade Desk during the 3rd quarter worth about $222,000. Finally, Blue Trust Inc. boosted its holdings in shares of Trade Desk by 364.9% during the 3rd quarter. Blue Trust Inc. now owns 6,169 shares of the technology company’s stock worth $676,000 after buying an additional 4,842 shares during the period. 67.77% of the stock is currently owned by institutional investors.

Trade Desk Price Performance

Shares of NASDAQ:TTD opened at $80.16 on Friday. The company’s 50 day simple moving average is $120.93 and its 200 day simple moving average is $115.40. The stock has a market capitalization of $39.56 billion, a price-to-earnings ratio of 131.41, a price-to-earnings-growth ratio of 3.63 and a beta of 1.45. The Trade Desk, Inc. has a 1 year low of $73.68 and a 1 year high of $141.53.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a net margin of 13.34% and a return on equity of 13.17%. As a group, analysts anticipate that The Trade Desk, Inc. will post 0.87 EPS for the current fiscal year.

Trade Desk announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the sale, the insider now owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the sale, the insider now directly owns 90,709 shares in the company, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,029 shares of company stock valued at $5,004,296. 9.72% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. StockNews.com cut shares of Trade Desk from a “buy” rating to a “hold” rating in a report on Saturday, November 30th. Morgan Stanley lowered their target price on Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a research note on Thursday. BMO Capital Markets reduced their price target on Trade Desk from $160.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday. Wolfe Research increased their price objective on Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, Oppenheimer reduced their target price on shares of Trade Desk from $135.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $119.77.

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.