Tcfg Wealth Management LLC Trims Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Tcfg Wealth Management LLC cut its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 5.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,960 shares of the technology company’s stock after selling 490 shares during the period. Tcfg Wealth Management LLC’s holdings in Trade Desk were worth $936,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of TTD. Edgewood Management LLC boosted its holdings in Trade Desk by 133.3% in the 3rd quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock worth $1,089,280,000 after buying an additional 5,675,571 shares during the last quarter. Jennison Associates LLC boosted its holdings in Trade Desk by 11.0% in the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after buying an additional 2,013,047 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in Trade Desk by 4.7% in the 3rd quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock worth $4,245,218,000 after buying an additional 1,720,650 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Trade Desk by 10,856.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,572,820 shares of the technology company’s stock worth $172,460,000 after buying an additional 1,558,465 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Trade Desk by 55.3% in the 3rd quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company’s stock worth $169,892,000 after buying an additional 551,925 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 704,229 shares in the company, valued at $88,338,485.76. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jay R. Grant sold 18,524 shares of the company’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 completion of the transaction, the insider now owns 169,464 shares of the company’s stock, valued at $20,225,528.40. This represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,029 shares of company stock worth $5,004,296 over the last 90 days. Corporate insiders own 9.72% of the company’s stock.

Trade Desk Trading Down 2.1 %

Shares of TTD stock opened at $80.16 on Friday. The firm has a fifty day moving average price of $120.93 and a 200 day moving average price of $115.40. The company has a market cap of $39.56 billion, a P/E ratio of 131.41, a PEG ratio of 3.63 and a beta of 1.45. The Trade Desk, Inc. has a 12 month low of $73.68 and a 12 month high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a return on equity of 13.17% and a net margin of 13.34%. On average, equities analysts forecast that The Trade Desk, Inc. will post 0.87 EPS for the current year.

Trade Desk announced that its Board of Directors has approved a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in shares. This repurchase authorization allows the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

TTD has been the topic of several research analyst reports. Wedbush lifted their price objective on Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. KeyCorp boosted their target price on Trade Desk from $140.00 to $142.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Citizens Jmp upgraded Trade Desk to a “strong-buy” rating in a report on Tuesday, January 21st. Truist Financial lowered their target price on Trade Desk from $155.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday. Finally, BMO Capital Markets lowered 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. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.