Checchi Capital Advisers LLC Sells 1,893 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Checchi Capital Advisers LLC reduced its position in The Trade Desk, Inc. (NASDAQ:TTD) by 8.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 20,830 shares of the technology company’s stock after selling 1,893 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Trade Desk were worth $2,448,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Harbor Investment Advisory LLC raised its stake in 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 during the last quarter. Midwest Capital Advisors LLC purchased a new position in shares of Trade Desk in the 4th quarter valued at approximately $34,000. Exchange Traded Concepts LLC acquired a new stake in Trade Desk in the 4th quarter worth approximately $35,000. Synergy Asset Management LLC purchased a new stake in Trade Desk during the 4th quarter worth approximately $34,000. Finally, Kestra Investment Management LLC acquired a new position in Trade Desk during the 4th quarter valued at approximately $39,000. 67.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $145.00 target price on shares of Trade Desk in a research report on Thursday, February 13th. Piper Sandler reiterated an “overweight” rating and issued a $110.00 price objective (down previously from $140.00) on shares of Trade Desk in a research note on Thursday, February 13th. Morgan Stanley decreased their target price on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. New Street Research raised shares of Trade Desk from a “sell” rating to a “neutral” rating and upped their price target for the company from $85.00 to $115.00 in a report on Monday, November 25th. Finally, Loop Capital reduced their price objective on Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $119.45.

Trade Desk Stock Up 1.1 %

Shares of NASDAQ:TTD opened at $74.98 on Wednesday. The Trade Desk, Inc. has a 52-week low of $70.44 and a 52-week high of $141.53. The business has a fifty day moving average of $112.90 and a two-hundred day moving average of $115.03. The stock has a market cap of $37.01 billion, a P/E ratio of 96.13, a PEG ratio of 3.11 and a beta of 1.45.

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

Trade Desk declared that its board has initiated a stock buyback 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 reacquire up to 0.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 704,229 shares in the company, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,029 shares of company stock worth $5,004,296. Company insiders own 9.72% of the company’s stock.

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.