The Trade Desk, Inc. (NASDAQ:TTD) Shares Sold by Meridian Wealth Management LLC

Meridian Wealth Management LLC cut its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 3.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 15,956 shares of the technology company’s stock after selling 532 shares during the period. Meridian Wealth Management LLC’s holdings in Trade Desk were worth $1,875,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Ithaka Group LLC grew its holdings 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 in the last quarter. Lyell Wealth Management LP grew its holdings 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 purchasing an additional 19,204 shares during the period. Nordea Investment Management AB grew its holdings 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 valued at $159,132,000 after purchasing an additional 358,350 shares during the period. Assetmark Inc. grew its holdings in shares of Trade Desk by 2,461.2% in the third quarter. Assetmark Inc. now owns 73,559 shares of the technology company’s stock valued at $8,066,000 after purchasing an additional 70,687 shares during the period. Finally, Swiss National Bank grew its holdings in shares of Trade Desk by 0.3% in the third quarter. Swiss National Bank now owns 1,321,400 shares of the technology company’s stock valued at $144,892,000 after purchasing an additional 4,500 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Stock Down 4.5 %

NASDAQ:TTD opened at $67.17 on Tuesday. The stock has a fifty day simple moving average of $109.60 and a 200-day simple moving average of $114.47. The Trade Desk, Inc. has a 52-week low of $66.82 and a 52-week high of $141.53. The company has a market capitalization of $33.32 billion, a PE ratio of 86.12, a price-to-earnings-growth ratio of 3.11 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last posted its quarterly 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%. As a group, equities analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to buy up to 0.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Trade Desk

In other news, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 169,464 shares in the company, valued at approximately $20,225,528.40. The trade was 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, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the sale, the insider now owns 90,709 shares of the company’s stock, valued at $10,754,459.04. The trade was a 4.52 % 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 in the last 90 days. 9.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TTD has been the subject of several research analyst reports. Benchmark reaffirmed a “sell” rating and set a $57.00 target price on shares of Trade Desk in a research note on Friday, November 8th. Robert W. Baird reduced their price target on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. BMO Capital Markets reduced their target price on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 target price on shares of Trade Desk in a report on Thursday, February 13th. Finally, Loop Capital reduced their target price on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $119.45.

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.