Level Four Advisory Services LLC Decreases Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Level Four Advisory Services LLC lessened its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 6.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 8,284 shares of the technology company’s stock after selling 591 shares during the quarter. Level Four Advisory Services LLC’s holdings in Trade Desk were worth $974,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in TTD. Lyell Wealth Management LP raised its stake in Trade Desk by 24.3% during the 4th 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 during the last quarter. Nordea Investment Management AB increased its position in Trade Desk by 36.2% during 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 acquiring an additional 358,350 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Trade Desk by 276.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company’s stock valued at $8,255,000 after acquiring an additional 51,603 shares during the period. Independent Solutions Wealth Management LLC boosted its position in Trade Desk by 21.0% in the third quarter. Independent Solutions Wealth Management LLC now owns 64,358 shares of the technology company’s stock worth $7,057,000 after purchasing an additional 11,181 shares during the last quarter. Finally, Moody National Bank Trust Division bought a new stake in shares of Trade Desk during the 4th quarter valued at about $985,000. 67.77% of the stock is owned by hedge funds and other institutional investors.

Trade Desk Price Performance

Shares of TTD opened at $55.85 on Monday. The business’s 50 day simple moving average is $85.01 and its 200-day simple moving average is $108.42. The Trade Desk, Inc. has a 1 year low of $53.39 and a 1 year high of $141.53. The stock has a market capitalization of $27.71 billion, a price-to-earnings ratio of 71.60, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last released its quarterly 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 net margin of 16.08% and a return on equity of 16.38%. On average, sell-side analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk declared that its board has approved a share repurchase plan on Wednesday, February 12th that allows the company to buyback $564.00 million in outstanding shares. This buyback authorization allows the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Insider Activity at Trade Desk

In related news, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was 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 $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 owns 90,709 shares in the company, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. 9.72% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on TTD. Scotiabank lowered their price objective on shares of Trade Desk from $133.00 to $83.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Royal Bank of Canada decreased their price target on shares of Trade Desk from $120.00 to $100.00 and set an “outperform” rating on the stock in a research report on Monday, March 17th. BMO Capital Markets reduced their price objective on Trade Desk from $160.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Piper Sandler reiterated an “overweight” rating and set a $110.00 target price (down from $140.00) on shares of Trade Desk in a research report on Thursday, February 13th. Finally, Needham & Company LLC reissued a “buy” rating and set a $145.00 price target on shares of Trade Desk in a report on Thursday, March 13th. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $116.41.

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.