Cornerstone Wealth Group LLC Makes New $485,000 Investment in The Trade Desk, Inc. (NASDAQ:TTD)

Cornerstone Wealth Group LLC acquired a new stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 4,130 shares of the technology company’s stock, valued at approximately $485,000.

Other large investors also recently modified their holdings of the company. APG Asset Management N.V. raised its stake in shares of Trade Desk by 197.1% during the second quarter. APG Asset Management N.V. now owns 55,472 shares of the technology company’s stock worth $5,055,000 after acquiring an additional 36,800 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Trade Desk by 11.9% in the second quarter. The Manufacturers Life Insurance Company now owns 24,440 shares of the technology company’s stock worth $2,387,000 after purchasing an additional 2,593 shares during the last quarter. Kathmere Capital Management LLC bought a new stake in Trade Desk during the 2nd quarter valued at $206,000. Driehaus Capital Management LLC purchased a new stake in Trade Desk during the 2nd quarter valued at $1,191,000. Finally, Algert Global LLC increased its position in shares of Trade Desk by 22.5% in the second quarter. Algert Global LLC now owns 4,893 shares of the technology company’s stock valued at $478,000 after acquiring an additional 900 shares during the period. 67.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 549,684 shares of company stock worth $68,444,576 over the last quarter. Company insiders own 9.72% of the company’s stock.

Trade Desk Price Performance

TTD stock opened at $119.10 on Tuesday. The stock has a market capitalization of $58.78 billion, a P/E ratio of 195.25, a P/E/G ratio of 3.82 and a beta of 1.45. The Trade Desk, Inc. has a 1-year low of $66.56 and a 1-year high of $141.53. The business has a fifty day moving average price of $125.87 and a 200-day moving average price of $113.80.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, November 7th. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.21). The business had revenue of $628.02 million during the quarter, compared to analysts’ expectations of $619.89 million. Trade Desk had a return on equity of 13.17% and a net margin of 13.34%. During the same period last year, the firm posted $0.08 EPS. As a group, analysts anticipate that The Trade Desk, Inc. will post 0.87 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TTD. Evercore ISI raised their target price on Trade Desk from $110.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Royal Bank of Canada upped their target price on Trade Desk from $136.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Citigroup raised their price target on Trade Desk from $115.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Loop Capital boosted their price objective on shares of Trade Desk from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Truist Financial raised their target price on shares of Trade Desk from $135.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Trade Desk currently has an average rating of “Moderate Buy” and an average target price of $133.13.

Trade Desk Company 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.