AMJ Financial Wealth Management Has $7.63 Million Position in The Trade Desk, Inc. (NASDAQ:TTD)

AMJ Financial Wealth Management reduced its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 3.9% during the 4th quarter, Holdings Channel reports. The fund owned 64,877 shares of the technology company’s stock after selling 2,655 shares during the period. Trade Desk makes up about 2.1% of AMJ Financial Wealth Management’s investment portfolio, making the stock its 23rd largest position. AMJ Financial Wealth Management’s holdings in Trade Desk were worth $7,625,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in TTD. Ithaka Group LLC grew its stake in shares of Trade Desk by 4.5% during the third quarter. Ithaka Group LLC now owns 112,888 shares of the technology company’s stock worth $12,378,000 after buying an additional 4,836 shares during the last quarter. Lyell Wealth Management LP lifted its holdings in Trade Desk by 24.3% in the fourth quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock valued at $11,558,000 after buying an additional 19,204 shares during the period. Nordea Investment Management AB lifted its stake in shares of 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. Assetmark Inc. boosted its holdings in shares of Trade Desk by 2,461.2% during the 3rd quarter. Assetmark Inc. now owns 73,559 shares of the technology company’s stock worth $8,066,000 after buying an additional 70,687 shares in the last quarter. Finally, Swiss National Bank boosted its stake in Trade Desk by 0.3% during the third quarter. Swiss National Bank now owns 1,321,400 shares of the technology company’s stock worth $144,892,000 after acquiring an additional 4,500 shares in the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Trading Down 4.5 %

NASDAQ:TTD opened at $67.17 on Tuesday. The firm has a fifty day simple moving average of $109.60 and a 200-day simple moving average of $114.47. The company has a market capitalization of $33.32 billion, a P/E ratio of 86.12, a PEG ratio of 3.11 and a beta of 1.45. The Trade Desk, Inc. has a 12 month low of $66.82 and a 12 month high of $141.53.

Trade Desk (NASDAQ:TTD) last announced its quarterly 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 net margin of 16.08% and a return on equity of 16.38%. Equities analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk declared that its board has approved a stock repurchase program on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding 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 an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $119.35, for a total value of $2,210,839.40. Following the sale, the insider now directly 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the chief executive officer now owns 704,229 shares of the company’s stock, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,029 shares of company stock worth $5,004,296. 9.72% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on TTD shares. JMP Securities decreased 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 note on Thursday, February 13th. Wells Fargo & Company cut their price objective on Trade Desk from $142.00 to $101.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Truist Financial reduced their target price on shares of Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. New Street Research raised Trade Desk from a “sell” rating to a “neutral” rating and upped their price target for the company from $85.00 to $115.00 in a research report on Monday, November 25th. Finally, Stifel Nicolaus dropped their price target on shares of Trade Desk from $144.00 to $122.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three 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 target price of $119.45.

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.