SwitchPoint Financial Planning LLC Takes Position in The Trade Desk, Inc. (NASDAQ:TTD)

SwitchPoint Financial Planning LLC bought a new stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) during the 4th quarter, HoldingsChannel.com reports. The fund bought 2,006 shares of the technology company’s stock, valued at approximately $236,000.

Several other institutional investors have also bought and sold shares of TTD. Lyell Wealth Management LP lifted 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 acquiring an additional 19,204 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of 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 purchasing an additional 358,350 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Trade Desk by 3.3% during the third 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 last quarter. Assenagon Asset Management S.A. boosted its holdings in Trade Desk by 276.9% during the fourth 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. Finally, Independent Solutions Wealth Management LLC grew its position in 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 worth $7,057,000 after purchasing an additional 11,181 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

Insider Buying and Selling at Trade Desk

In related news, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction 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 transaction, the insider now owns 169,464 shares in the company, valued at $20,225,528.40. This trade represents a 9.85 % 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, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the sale, the insider now owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock worth $5,004,296 over the last 90 days. Corporate insiders own 9.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on TTD shares. Wells Fargo & Company dropped their target price on shares of Trade Desk from $142.00 to $101.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Benchmark raised Trade Desk from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. StockNews.com lowered Trade Desk from a “buy” rating to a “hold” rating in a research report on Saturday, November 30th. DA Davidson cut their price target on shares of Trade Desk from $134.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Piper Sandler restated an “overweight” rating and set a $110.00 price objective (down previously from $140.00) on shares of Trade Desk in a report on Thursday, February 13th. Six research 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $116.41.

Trade Desk Trading Up 4.5 %

TTD stock opened at $62.00 on Wednesday. The company’s 50 day moving average is $88.88 and its 200 day moving average is $109.33. The stock has a market cap of $30.76 billion, a price-to-earnings ratio of 79.49, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 1-year low of $53.39 and a 1-year high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates 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, sell-side 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 initiated a share repurchase program on Wednesday, February 12th that permits the company to repurchase $564.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

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.