Thoroughbred Financial Services LLC Sells 469 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Thoroughbred Financial Services LLC cut its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,490 shares of the technology company’s stock after selling 469 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Trade Desk were worth $1,232,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Pitcairn Co. grew its position in Trade Desk by 313.9% in the fourth quarter. Pitcairn Co. now owns 17,654 shares of the technology company’s stock valued at $2,075,000 after purchasing an additional 13,389 shares in the last quarter. Motley Fool Asset Management LLC boosted its stake in shares of Trade Desk by 14.7% during the 4th quarter. Motley Fool Asset Management LLC now owns 25,647 shares of the technology company’s stock worth $3,014,000 after buying an additional 3,284 shares during the last quarter. World Investment Advisors grew its holdings in shares of Trade Desk by 3.5% in the 4th quarter. World Investment Advisors now owns 9,163 shares of the technology company’s stock valued at $1,077,000 after acquiring an additional 314 shares in the last quarter. Nicolet Advisory Services LLC increased its position in shares of Trade Desk by 12.2% in the fourth quarter. Nicolet Advisory Services LLC now owns 2,322 shares of the technology company’s stock valued at $276,000 after acquiring an additional 252 shares during the last quarter. Finally, OneAscent Financial Services LLC bought a new stake in Trade Desk during the fourth quarter worth about $236,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Insiders Place Their Bets

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 completion of the transaction, the insider now owns 90,709 shares in the company, valued at $10,754,459.04. This represents a 4.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk 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 sale, the chief executive officer now owns 704,229 shares in the company, valued at $88,338,485.76. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.72% of the company’s stock.

Trade Desk Stock Down 5.8 %

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

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 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%. As a group, equities research analysts expect that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its board has initiated a stock repurchase 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 reacquire up to 0.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TTD shares. Jefferies Financial Group decreased their price target on Trade Desk from $120.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday. BMO Capital Markets lowered their target price on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Citizens Jmp upgraded shares of Trade Desk to a “strong-buy” rating in a research note on Tuesday, January 21st. Oppenheimer lowered their price objective on shares of Trade Desk from $135.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Finally, Truist Financial cut their target price on shares of Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $114.38.

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.