The Trade Desk, Inc. (NASDAQ:TTD) Shares Acquired by Wedbush Securities Inc.

Wedbush Securities Inc. raised its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 4.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 21,363 shares of the technology company’s stock after buying an additional 873 shares during the period. Wedbush Securities Inc.’s holdings in Trade Desk were worth $2,511,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lyell Wealth Management LP grew its position in shares of Trade Desk by 24.3% during the fourth quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock worth $11,558,000 after buying an additional 19,204 shares in the last quarter. Nordea Investment Management AB grew its holdings in Trade Desk by 36.2% during the 4th quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock worth $159,132,000 after acquiring an additional 358,350 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Trade Desk by 276.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company’s stock worth $8,255,000 after purchasing an additional 51,603 shares during the last quarter. Independent Solutions Wealth Management LLC raised its stake in shares of Trade Desk by 21.0% in the 3rd quarter. Independent Solutions Wealth Management LLC now owns 64,358 shares of the technology company’s stock valued at $7,057,000 after purchasing an additional 11,181 shares in the last quarter. Finally, Moody National Bank Trust Division bought a new position in shares of Trade Desk during the fourth quarter worth about $985,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Trade Desk Price Performance

NASDAQ TTD opened at $46.24 on Friday. The firm has a market capitalization of $22.94 billion, a PE ratio of 59.28, a P/E/G ratio of 3.11 and a beta of 1.56. The Trade Desk, Inc. has a 12 month low of $45.02 and a 12 month high of $141.53. The company’s 50 day simple moving average is $78.11 and its 200 day simple moving average is $106.55.

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

Trade Desk announced that its board has initiated a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 0.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the company’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 transaction, the chief executive officer now owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This represents a 2.52 % 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 Samantha Jacobson sold 4,298 shares of the stock in a transaction on Tuesday, January 28th. The shares were 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. 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 company insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. KeyCorp cut their price objective on Trade Desk from $130.00 to $74.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. Wedbush raised their price objective on Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Royal Bank of Canada lowered their target price on shares of Trade Desk from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Monday, March 17th. Oppenheimer dropped their target price on shares of Trade Desk from $135.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 price target on shares of Trade Desk in a report on Thursday, March 13th. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $114.38.

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.