First Commonwealth Financial Corp PA Invests $435,000 in The Trade Desk, Inc. (NASDAQ:TTD)

First Commonwealth Financial Corp PA purchased a new stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,700 shares of the technology company’s stock, valued at approximately $435,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lyell Wealth Management LP increased its stake in shares of 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 in the last quarter. Nordea Investment Management AB raised its stake in shares of Trade Desk by 36.2% in the fourth quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock worth $159,132,000 after acquiring an additional 358,350 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Trade Desk by 276.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company’s stock worth $8,255,000 after purchasing an additional 51,603 shares in the last quarter. Independent Solutions Wealth Management LLC grew its stake in shares of Trade Desk by 21.0% during the third quarter. Independent Solutions Wealth Management LLC now owns 64,358 shares of the technology company’s stock valued at $7,057,000 after purchasing an additional 11,181 shares during the last quarter. Finally, Moody National Bank Trust Division acquired a new stake in shares of Trade Desk in the fourth quarter valued at approximately $985,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Trade Desk

In related news, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.72% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have commented on TTD shares. Cfra Research upgraded Trade Desk to a “moderate buy” rating in a research report on Tuesday, March 25th. Robert W. Baird lowered their price objective on Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. BMO Capital Markets cut their target price on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Citizens Jmp upgraded shares of Trade Desk to a “strong-buy” rating in a research report on Tuesday, January 21st. Finally, JMP Securities cut their price objective on shares of Trade Desk from $150.00 to $115.00 and set a “market outperform” rating on the stock in a report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.10.

Trade Desk Stock Up 3.7 %

Shares of TTD opened at $50.26 on Friday. The Trade Desk, Inc. has a twelve month low of $42.96 and a twelve month high of $141.53. The stock has a market capitalization of $24.93 billion, a P/E ratio of 64.44, a P/E/G ratio of 3.11 and a beta of 1.56. The company has a 50 day moving average of $62.92 and a 200-day moving average of $102.01.

Trade Desk (NASDAQ:TTD) last released its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. On average, sell-side analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its board has authorized 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 purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.