HBK Sorce Advisory LLC Cuts Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

HBK Sorce Advisory LLC cut its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,714 shares of the technology company’s stock after selling 204 shares during the period. HBK Sorce Advisory LLC’s holdings in Trade Desk were worth $672,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of TTD. Prime Capital Investment Advisors LLC increased its stake in Trade Desk by 7.4% during the third quarter. Prime Capital Investment Advisors LLC now owns 10,367 shares of the technology company’s stock worth $1,137,000 after purchasing an additional 718 shares during the period. Aptus Capital Advisors LLC increased its stake in Trade Desk by 3.6% during the third quarter. Aptus Capital Advisors LLC now owns 4,116 shares of the technology company’s stock worth $451,000 after purchasing an additional 144 shares during the period. Kovack Advisors Inc. purchased a new stake in Trade Desk during the third quarter worth about $201,000. KBC Group NV increased its stake in Trade Desk by 22.2% during the third quarter. KBC Group NV now owns 113,097 shares of the technology company’s stock worth $12,401,000 after purchasing an additional 20,576 shares during the period. Finally, Huntington National Bank increased its stake in Trade Desk by 22.9% during the third quarter. Huntington National Bank now owns 1,729 shares of the technology company’s stock worth $190,000 after purchasing an additional 322 shares during the period. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TTD has been the topic of a number of recent research reports. StockNews.com lowered shares of Trade Desk from a “buy” rating to a “hold” rating in a research note on Saturday, November 30th. Susquehanna cut their target price on shares of Trade Desk from $150.00 to $135.00 and set a “positive” rating on the stock in a research note on Thursday, February 13th. Scotiabank cut their target price 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. Wolfe Research upped their target price on shares of Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Royal Bank of Canada cut their target price on shares of Trade Desk from $140.00 to $120.00 and set an “outperform” rating on the stock 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $119.45.

Trade Desk Trading Up 0.1 %

TTD stock opened at $53.94 on Friday. The company has a market capitalization of $26.76 billion, a P/E ratio of 69.15, a PEG ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a twelve month low of $53.42 and a twelve month high of $141.53. The business has a 50 day simple moving average of $99.14 and a 200-day simple moving average of $111.81.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share 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%. Research analysts predict that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its board has initiated a stock buyback program on Wednesday, February 12th that allows the company to repurchase $564.00 million in shares. This repurchase authorization allows the technology company to buy up to 0.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Jay R. Grant sold 18,524 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the completion of the sale, the insider now directly owns 169,464 shares of the company’s stock, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Samantha Jacobson sold 4,298 shares of the 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 sale, the insider now directly owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,029 shares of company stock valued at $5,004,296 over the last three months. 9.72% of the stock is currently owned by company 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.