Concurrent Investment Advisors LLC Grows Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Concurrent Investment Advisors LLC raised its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 6.5% during the 4th quarter, HoldingsChannel reports. The firm owned 9,819 shares of the technology company’s stock after acquiring an additional 597 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Trade Desk were worth $1,154,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in TTD. Foundations Investment Advisors LLC purchased a new position in Trade Desk in the third quarter valued at about $218,000. International Assets Investment Management LLC increased its position in shares of Trade Desk by 10,856.6% during the third quarter. International Assets Investment Management LLC now owns 1,572,820 shares of the technology company’s stock worth $172,460,000 after acquiring an additional 1,558,465 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Trade Desk during the third quarter worth about $240,000. Dakota Wealth Management increased its position in shares of Trade Desk by 5.5% during the third quarter. Dakota Wealth Management now owns 17,366 shares of the technology company’s stock worth $1,904,000 after acquiring an additional 904 shares during the last quarter. Finally, Mediolanum International Funds Ltd increased its position in shares of Trade Desk by 6.6% during the third quarter. Mediolanum International Funds Ltd now owns 33,807 shares of the technology company’s stock worth $3,694,000 after acquiring an additional 2,098 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TTD has been the topic of a number of analyst reports. DA Davidson dropped their target price on Trade Desk from $134.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. New Street Research raised Trade Desk from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $85.00 to $115.00 in a research report on Monday, November 25th. Benchmark reaffirmed a “sell” rating and set a $57.00 target price on shares of Trade Desk in a research report on Friday, November 8th. Robert W. Baird dropped their target price on Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Finally, Morgan Stanley dropped their target price on Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Trade Desk has an average rating of “Moderate Buy” and an average price target of $119.45.

Insider Buying and Selling

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the transaction, the insider now owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 169,464 shares in the company, valued at $20,225,528.40. This represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,029 shares of company stock valued at $5,004,296 over the last quarter. Corporate insiders own 9.72% of the company’s stock.

Trade Desk Stock Down 4.8 %

Shares of TTD stock opened at $72.06 on Friday. The Trade Desk, Inc. has a 52 week low of $71.61 and a 52 week high of $141.53. The company has a market cap of $35.57 billion, a P/E ratio of 92.38, a PEG ratio of 3.11 and a beta of 1.45. The business has a 50 day moving average of $115.27 and a two-hundred day moving average of $115.09.

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

Trade Desk declared that its board has initiated a stock buyback 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 reacquire up to 0.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board 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.