Oppenheimer Asset Management Inc. Cuts Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Oppenheimer Asset Management Inc. lessened its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 5.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 159,464 shares of the technology company’s stock after selling 10,080 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Trade Desk were worth $18,742,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TTD. Focus Financial Network Inc. increased its holdings in Trade Desk by 2.2% in the 4th quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock worth $456,000 after buying an additional 84 shares during the period. CAP Partners LLC increased its holdings in Trade Desk by 1.4% in the 3rd quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock worth $702,000 after buying an additional 86 shares during the period. RMR Wealth Builders increased its holdings in Trade Desk by 0.8% in the 4th quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock worth $1,247,000 after buying an additional 89 shares during the period. Quotient Wealth Partners LLC increased its holdings in Trade Desk by 4.2% in the 4th quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock worth $276,000 after buying an additional 94 shares during the period. Finally, TFB Advisors LLC increased its holdings in Trade Desk by 2.6% in the 4th quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock worth $442,000 after buying an additional 94 shares during the period. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Insider Buying and Selling at Trade Desk

In related news, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the transaction, the insider now owns 169,464 shares of the company’s stock, valued at $20,225,528.40. This represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Samantha Jacobson sold 4,298 shares of the company’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 transaction, the insider now directly 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. Over the last quarter, insiders sold 41,029 shares of company stock worth $5,004,296. 9.72% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Oppenheimer cut their price target on shares of Trade Desk from $135.00 to $115.00 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. Macquarie raised their price objective on shares of Trade Desk from $133.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Wolfe Research raised their price objective 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. Finally, StockNews.com cut shares of Trade Desk from a “buy” rating to a “hold” rating in a research note on Saturday, November 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $119.45.

Trade Desk Price Performance

NASDAQ TTD opened at $72.43 on Thursday. The company has a market cap of $35.75 billion, a P/E ratio of 92.86, a P/E/G ratio of 3.11 and a beta of 1.45. The stock has a 50-day moving average of $111.79 and a two-hundred day moving average of $114.74. The Trade Desk, Inc. has a 1-year low of $70.44 and a 1-year high of $141.53.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 EPS 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%. On average, analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

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

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.