Midwest Capital Advisors LLC bought a new position in The Trade Desk, Inc. (NASDAQ:TTD – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 289 shares of the technology company’s stock, valued at approximately $34,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Y Intercept Hong Kong Ltd acquired a new position in Trade Desk in the 4th quarter worth $4,956,000. World Equity Group Inc. boosted its stake in Trade Desk by 104.3% in the 4th quarter. World Equity Group Inc. now owns 6,288 shares of the technology company’s stock worth $739,000 after purchasing an additional 3,210 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Trade Desk by 0.8% in the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 99,672 shares of the technology company’s stock worth $11,714,000 after purchasing an additional 800 shares during the period. Ascent Wealth Partners LLC boosted its stake in Trade Desk by 18.0% in the 4th quarter. Ascent Wealth Partners LLC now owns 36,752 shares of the technology company’s stock worth $4,319,000 after purchasing an additional 5,614 shares during the period. Finally, Howard Capital Management Inc. boosted its stake in Trade Desk by 3.1% in the 4th quarter. Howard Capital Management Inc. now owns 15,579 shares of the technology company’s stock worth $1,831,000 after purchasing an additional 464 shares during the period. 67.77% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, insider Jay R. Grant sold 18,524 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction that occurred 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 owns 90,709 shares in the company, valued at $10,754,459.04. This represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,029 shares of company stock worth $5,004,296. Corporate insiders own 9.72% of the company’s stock.
Trade Desk Stock Down 4.8 %
Trade Desk (NASDAQ:TTD – Get Free Report) last announced its earnings results 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 return on equity of 16.38% and a net margin of 16.08%. On average, research analysts expect that The Trade Desk, Inc. will post 1.06 EPS for the current year.
Trade Desk announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 0.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on TTD shares. BTIG Research increased their price objective on shares of Trade Desk from $114.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Scotiabank reduced their price objective on shares of Trade Desk from $133.00 to $83.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. Cantor Fitzgerald reduced their price objective on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. StockNews.com downgraded shares of Trade Desk from a “buy” rating to a “hold” rating in a research note on Saturday, November 30th. Finally, Truist Financial reduced their price objective on shares of Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $119.45.
Trade Desk 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.
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