The Trade Desk, Inc. (NASDAQ:TTD) Position Lifted by Left Brain Wealth Management LLC

Left Brain Wealth Management LLC lifted its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 8.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 90,159 shares of the technology company’s stock after buying an additional 7,307 shares during the quarter. Trade Desk accounts for approximately 4.0% of Left Brain Wealth Management LLC’s holdings, making the stock its 3rd largest holding. Left Brain Wealth Management LLC’s holdings in Trade Desk were worth $10,596,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Rialto Wealth Management LLC purchased a new stake in shares of Trade Desk during the 4th quarter valued at about $26,000. Harbor Investment Advisory LLC increased its position in shares of Trade Desk by 68.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after acquiring an additional 117 shares during the last quarter. Midwest Capital Advisors LLC purchased a new stake in shares of Trade Desk during the fourth quarter worth about $34,000. Exchange Traded Concepts LLC purchased a new stake in shares of Trade Desk during the fourth quarter worth about $35,000. Finally, Synergy Asset Management LLC purchased a new stake in shares of Trade Desk during the fourth quarter worth about $34,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Trade Desk Stock Performance

Shares of TTD stock opened at $53.88 on Friday. The stock’s 50 day simple moving average is $100.42 and its 200 day simple moving average is $112.21. The Trade Desk, Inc. has a twelve month low of $53.74 and a twelve month high of $141.53. The company has a market capitalization of $26.73 billion, a price-to-earnings ratio of 69.08, a PEG ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results 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 net margin of 16.08% and a return on equity of 16.38%. On average, analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its Board of Directors has approved 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 shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction 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 approximately $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the transaction, the chief executive officer now directly owns 704,229 shares in the company, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,029 shares of company stock valued at $5,004,296 in the last quarter. Insiders own 9.72% of the company’s stock.

Analysts Set New Price Targets

TTD has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 target price on shares of Trade Desk in a research report on Thursday. Oppenheimer dropped their target price on shares of Trade Desk from $135.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Citigroup dropped their target price on shares of Trade Desk from $140.00 to $108.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Evercore ISI downgraded shares of Trade Desk from an “outperform” rating to an “inline” rating and dropped their target price for the stock from $135.00 to $90.00 in a research report on Thursday, February 13th. Finally, Macquarie boosted their target price on shares of Trade Desk from $133.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Six research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.