Oppenheimer & Co. Inc. Increases Position in The Trade Desk, Inc. (NASDAQ:TTD)

Oppenheimer & Co. Inc. boosted its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 11.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 56,958 shares of the technology company’s stock after purchasing an additional 5,688 shares during the period. Oppenheimer & Co. Inc.’s holdings in Trade Desk were worth $6,694,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TTD. Harbor Investment Advisory LLC grew its position in shares of Trade Desk by 68.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after purchasing an additional 117 shares during the period. Synergy Asset Management LLC purchased a new position in Trade Desk in the 4th quarter valued at about $34,000. Midwest Capital Advisors LLC purchased a new position in Trade Desk in the 4th quarter valued at about $34,000. Exchange Traded Concepts LLC acquired a new stake in Trade Desk in the 4th quarter worth about $35,000. Finally, Kestra Investment Management LLC purchased a new stake in Trade Desk during the 4th quarter worth approximately $39,000. 67.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TTD shares. DA Davidson decreased their target price on Trade Desk from $134.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Royal Bank of Canada decreased their price objective on Trade Desk from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Citizens Jmp raised shares of Trade Desk to a “strong-buy” rating in a research note on Tuesday, January 21st. Wedbush increased their target price on shares of Trade Desk from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Finally, Wolfe Research raised their price target 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $119.45.

Insider Transactions at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of the 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. This represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the completion of the transaction, the insider now owns 169,464 shares of the company’s stock, valued at $20,225,528.40. This trade 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 over the last ninety days. Company insiders own 9.72% of the company’s stock.

Trade Desk Price Performance

NASDAQ TTD opened at $71.49 on Friday. The firm’s 50-day moving average is $110.70 and its two-hundred day moving average is $114.44. The stock has a market capitalization of $35.29 billion, a P/E ratio of 91.65, a PEG ratio of 3.11 and a beta of 1.45. The Trade Desk, Inc. has a 12 month low of $70.44 and a 12 month high of $141.53.

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 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, analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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.