542 Shares in The Trade Desk, Inc. (NASDAQ:TTD) Bought by Summit Securities Group LLC

Summit Securities Group LLC acquired a new stake in The Trade Desk, Inc. (NASDAQ:TTD) during the 4th quarter, Holdings Channel reports. The fund acquired 542 shares of the technology company’s stock, valued at approximately $64,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership acquired a new position in Trade Desk during the 4th quarter worth approximately $100,658,000. Allianz SE bought a new stake in shares of Trade Desk in the fourth quarter worth $266,000. Allstate Corp acquired a new position in Trade Desk during the fourth quarter worth $1,549,000. Brown Brothers Harriman & Co. grew its position in Trade Desk by 138.5% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,116 shares of the technology company’s stock valued at $131,000 after purchasing an additional 648 shares in the last quarter. Finally, DnB Asset Management AS increased its stake in Trade Desk by 8.2% in the 4th quarter. DnB Asset Management AS now owns 80,676 shares of the technology company’s stock valued at $9,482,000 after buying an additional 6,096 shares during the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction on 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 directly owns 704,229 shares in the company, valued at approximately $88,338,485.76. This represents a 2.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of the business’s 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 owns 90,709 shares in the company, valued at $10,754,459.04. This represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. 9.72% of the stock is currently owned by corporate insiders.

Trade Desk Trading Down 2.5 %

NASDAQ TTD opened at $55.85 on Monday. The Trade Desk, Inc. has a 1 year low of $53.39 and a 1 year high of $141.53. The firm has a market capitalization of $27.71 billion, a price-to-earnings ratio of 71.60, a P/E/G ratio of 3.11 and a beta of 1.63. The firm’s 50 day simple moving average is $85.01 and its 200 day simple moving average is $108.42.

Trade Desk (NASDAQ:TTD) last announced 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 return on equity of 16.38% and a net margin of 16.08%. On average, equities research 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 initiated a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

TTD has been the subject of several analyst reports. Morgan Stanley decreased their price objective on Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Loop Capital decreased their price target on Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Stifel Nicolaus dropped their price objective on Trade Desk from $144.00 to $122.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. DA Davidson decreased their target price on shares of Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Benchmark raised shares of Trade Desk from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $116.41.

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.