Gallagher Capital Advisors LLC Invests $1.02 Million in The Trade Desk, Inc. (NASDAQ:TTD)

Gallagher Capital Advisors LLC bought a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 8,685 shares of the technology company’s stock, valued at approximately $1,021,000.

Several other hedge funds have also added to or reduced their stakes in TTD. Rialto Wealth Management LLC acquired a new stake in Trade Desk in the 4th quarter worth about $26,000. Harbor Investment Advisory LLC increased its holdings in shares of Trade Desk by 68.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after purchasing an additional 117 shares during the period. Synergy Asset Management LLC acquired a new stake in shares of Trade Desk in the fourth quarter valued at approximately $34,000. Midwest Capital Advisors LLC bought a new stake in shares of Trade Desk in the fourth quarter valued at approximately $34,000. Finally, Exchange Traded Concepts LLC acquired a new stake in Trade Desk during the fourth quarter worth approximately $35,000. 67.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on TTD. Truist Financial cut their target price on Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Susquehanna cut their price objective on shares of Trade Desk from $150.00 to $135.00 and set a “positive” rating for the company in a research report on Thursday, February 13th. Evercore ISI lowered shares of Trade Desk from an “outperform” rating to an “inline” rating and decreased their target price for the company from $135.00 to $90.00 in a report on Thursday, February 13th. Royal Bank of Canada cut their price target on shares of Trade Desk from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Finally, Oppenheimer reduced their price target on shares of Trade Desk from $135.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Trade Desk currently has a consensus rating of “Moderate Buy” and an average price target of $119.45.

Trade Desk Stock Down 0.1 %

Shares of Trade Desk stock opened at $64.91 on Monday. The stock has a market cap of $32.20 billion, a price-to-earnings ratio of 83.22, a P/E/G ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a twelve month low of $63.82 and a twelve month high of $141.53. The company’s fifty day moving average is $103.94 and its 200 day moving average is $113.21.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results 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%. As a group, equities 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 approved a stock repurchase program on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Trade Desk

In related news, insider Jay R. Grant sold 18,524 shares of the business’s 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. The trade was a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction dated 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 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. In the last 90 days, insiders sold 41,029 shares of company stock valued at $5,004,296. 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.