Meridian Wealth Management LLC Decreases Position in The Trade Desk, Inc. (NASDAQ:TTD)

Meridian Wealth Management LLC cut its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 3.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,956 shares of the technology company’s stock after selling 532 shares during the period. Meridian Wealth Management LLC’s holdings in Trade Desk were worth $1,875,000 as of its most recent SEC filing.

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

Trade Desk Stock Performance

Shares of NASDAQ:TTD opened at $67.17 on Tuesday. The Trade Desk, Inc. has a fifty-two week low of $66.82 and a fifty-two week high of $141.53. The firm has a fifty day moving average price of $109.60 and a 200 day moving average price of $114.47. The firm has a market cap of $33.32 billion, a price-to-earnings ratio of 86.12, a P/E/G ratio of 3.11 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. As a group, research analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its board has approved a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 169,464 shares in the company, valued at $20,225,528.40. This represents a 9.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the firm’s 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 completion of 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. Over the last quarter, insiders have sold 41,029 shares of company stock valued at $5,004,296. 9.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Truist Financial cut their target price on shares of Trade Desk from $155.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Royal Bank of Canada cut their target price on shares of Trade Desk from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Scotiabank dropped their price objective on shares of Trade Desk from $133.00 to $83.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Robert W. Baird dropped their price objective on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Finally, Citigroup decreased their target price on shares of Trade Desk from $140.00 to $108.00 and set a “buy” rating for the company in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.45.

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.