LPL Financial LLC Grows Position in The Trade Desk, Inc. (NASDAQ:TTD)

LPL Financial LLC lifted its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 10.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 785,125 shares of the technology company’s stock after purchasing an additional 73,642 shares during the quarter. LPL Financial LLC owned about 0.16% of Trade Desk worth $92,276,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TTD. Lyell Wealth Management LP grew its stake in 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 during the period. Nordea Investment Management AB lifted its holdings in shares of 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 valued at $159,132,000 after acquiring an additional 358,350 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Trade Desk by 3.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,109,380 shares of the technology company’s stock worth $231,294,000 after purchasing an additional 68,206 shares during the period. Assenagon Asset Management S.A. increased its holdings in 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 valued at $8,255,000 after purchasing an additional 51,603 shares in the last quarter. Finally, Independent Solutions Wealth Management LLC raised 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 valued at $7,057,000 after purchasing an additional 11,181 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Wall Street Analysts Forecast Growth

TTD has been the subject of several analyst reports. Citigroup decreased their target price on Trade Desk from $140.00 to $108.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Truist Financial decreased their price target on Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Wedbush lifted their price objective on shares of Trade Desk from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Piper Sandler restated an “overweight” rating and issued a $110.00 target price (down from $140.00) on shares of Trade Desk in a research note on Thursday, February 13th. Finally, DA Davidson dropped their price target on shares of Trade Desk from $134.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, February 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.41.

Trade Desk Stock Up 4.5 %

Shares of NASDAQ:TTD opened at $62.00 on Wednesday. The company has a market cap of $30.76 billion, a PE ratio of 79.49, a P/E/G ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a fifty-two week low of $53.39 and a fifty-two week high of $141.53. The firm has a 50-day simple moving average of $88.88 and a 200 day simple moving average of $109.33.

Trade Desk (NASDAQ:TTD) last posted 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 net margin of 16.08% and a return on equity of 16.38%. As a group, research analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to buyback $564.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 0.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 704,229 shares in the company, valued at approximately $88,338,485.76. This represents a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction that occurred 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 sale, the insider now directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,029 shares of company stock worth $5,004,296 in the last three months. 9.72% of the stock is owned by insiders.

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.