Tcfg Wealth Management LLC Sells 490 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Tcfg Wealth Management LLC reduced its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 5.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,960 shares of the technology company’s stock after selling 490 shares during the quarter. Tcfg Wealth Management LLC’s holdings in Trade Desk were worth $936,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TTD. Harbor Investment Advisory LLC increased its holdings in Trade Desk by 68.8% in 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 in the last quarter. Synergy Asset Management LLC bought a new stake in shares of Trade Desk during the fourth quarter valued at approximately $34,000. Exchange Traded Concepts LLC bought a new stake in shares of Trade Desk during the fourth quarter valued at approximately $35,000. Avior Wealth Management LLC increased its holdings in shares of Trade Desk by 37.7% during the third quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock valued at $40,000 after acquiring an additional 100 shares in the last quarter. Finally, Brown Lisle Cummings Inc. increased its holdings in shares of Trade Desk by 66.7% during the third quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company’s stock valued at $41,000 after acquiring an additional 150 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Jay R. Grant sold 18,524 shares of Trade Desk 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 sale, the insider now directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction that occurred on Tuesday, January 28th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,029 shares of company stock worth $5,004,296 in the last ninety days. 9.72% of the stock is owned by insiders.

Trade Desk Trading Down 2.1 %

TTD opened at $80.16 on Friday. The stock has a 50-day moving average price of $120.93 and a 200-day moving average price of $115.40. The Trade Desk, Inc. has a 12-month low of $73.68 and a 12-month high of $141.53. The stock has a market capitalization of $39.56 billion, a P/E ratio of 131.41, a PEG ratio of 3.63 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a return on equity of 13.17% and a net margin of 13.34%. On average, equities research analysts predict that The Trade Desk, Inc. will post 0.87 EPS for the current year.

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Loop Capital boosted their price objective on Trade Desk from $120.00 to $145.00 and gave the company a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company decreased their price objective on Trade Desk from $142.00 to $101.00 and set an “overweight” rating for the company in a report on Friday. Needham & Company LLC restated a “buy” rating and set a $145.00 price objective on shares of Trade Desk in a report on Thursday. Morgan Stanley cut their target price on Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, UBS Group lifted their target price on Trade Desk from $116.00 to $148.00 and gave the company a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $119.77.

About Trade Desk

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.