Howard Capital Management Inc. Purchases 464 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Howard Capital Management Inc. lifted its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 3.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 15,579 shares of the technology company’s stock after acquiring an additional 464 shares during the quarter. Howard Capital Management Inc.’s holdings in Trade Desk were worth $1,831,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. grew its holdings in Trade Desk by 21.4% during the 4th quarter. First Horizon Advisors Inc. now owns 3,051 shares of the technology company’s stock worth $359,000 after acquiring an additional 537 shares in the last quarter. Lane & Associates LLC boosted its stake in shares of Trade Desk by 2.6% during the fourth quarter. Lane & Associates LLC now owns 4,256 shares of the technology company’s stock valued at $505,000 after purchasing an additional 108 shares in the last quarter. WP Advisors LLC purchased a new position in Trade Desk during the fourth quarter valued at approximately $206,000. ING Groep NV bought a new position in Trade Desk in the fourth quarter worth approximately $1,291,000. Finally, First Bank & Trust bought a new stake in Trade Desk during the 4th quarter valued at $535,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Performance

NASDAQ TTD opened at $72.06 on Monday. The Trade Desk, Inc. has a fifty-two week low of $71.61 and a fifty-two week high of $141.53. The firm has a market capitalization of $35.57 billion, a P/E ratio of 92.38, a PEG ratio of 3.11 and a beta of 1.45. The stock has a 50-day simple moving average of $115.27 and a two-hundred day simple moving average of $115.30.

Trade Desk (NASDAQ:TTD) last announced 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, analysts forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

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

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Truist Financial reduced their price target 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. Robert W. Baird decreased their price target on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Citizens Jmp raised shares of Trade Desk to a “strong-buy” rating in a research report on Tuesday, January 21st. Oppenheimer decreased their target price on shares of Trade Desk from $135.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Finally, Morgan Stanley lowered their target price on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $119.45.

Insider Activity at Trade Desk

In related news, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 704,229 shares of the company’s stock, 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 SEC, which can be accessed through this hyperlink. Also, insider Jay R. Grant sold 18,524 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was 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 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. Company insiders own 9.72% of the company’s stock.

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.