The Trade Desk, Inc. (NASDAQ:TTD) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. lowered its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,228 shares of the technology company’s stock after selling 1,073 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Trade Desk were worth $2,730,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Rialto Wealth Management LLC acquired a new stake in shares of Trade Desk in the fourth quarter valued at about $26,000. Harbor Investment Advisory LLC grew its stake in shares of Trade Desk by 68.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after buying an additional 117 shares in the last quarter. Midwest Capital Advisors LLC acquired a new stake in shares of Trade Desk in the fourth quarter valued at about $34,000. Exchange Traded Concepts LLC acquired a new stake in shares of Trade Desk in the fourth quarter valued at about $35,000. Finally, Synergy Asset Management LLC purchased a new position in Trade Desk in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Price Performance

TTD opened at $53.94 on Monday. The Trade Desk, Inc. has a 12 month low of $53.42 and a 12 month high of $141.53. The stock has a market cap of $26.76 billion, a P/E ratio of 69.15, a P/E/G ratio of 3.11 and a beta of 1.63. The stock’s 50 day moving average price is $97.79 and its 200 day moving average price is $111.58.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS 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 anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk declared that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Morgan Stanley reduced their price target on Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Wedbush increased their price target on Trade Desk from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Monday, January 6th. Susquehanna reduced their price target on Trade Desk from $150.00 to $135.00 and set a “positive” rating for the company in a report on Thursday, February 13th. Truist Financial reduced their price target on Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, Stifel Nicolaus reduced their price target on Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $119.45.

Insider Activity

In other news, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction 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 directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk 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 transaction, the chief executive officer now owns 704,229 shares in the company, valued at approximately $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. In the last ninety days, insiders have sold 41,029 shares of company stock worth $5,004,296. 9.72% of the stock is owned by company insiders.

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.