BluePointe Capital Management LLC Invests $223,000 in The Trade Desk, Inc. (NASDAQ:TTD)

BluePointe Capital Management LLC purchased a new stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 1,901 shares of the technology company’s stock, valued at approximately $223,000.

Other large investors have also recently bought and sold shares of the company. Focus Financial Network Inc. increased its stake in shares of Trade Desk by 2.2% in the fourth quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock worth $456,000 after acquiring an additional 84 shares during the last quarter. RMR Wealth Builders increased its position 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 purchasing an additional 89 shares during the last quarter. Quotient Wealth Partners LLC raised its stake in shares of Trade Desk by 4.2% during the 4th quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock worth $276,000 after purchasing an additional 94 shares in the last quarter. TFB Advisors LLC lifted its holdings in shares of Trade Desk by 2.6% during the 4th quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock valued at $442,000 after buying an additional 94 shares during the last quarter. Finally, Centurion Wealth Management LLC lifted its holdings in shares of Trade Desk by 2.6% during the 4th quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company’s stock valued at $443,000 after buying an additional 96 shares during the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TTD has been the topic of several recent research reports. Scotiabank cut 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 report on Thursday, February 13th. New Street Research raised shares of Trade Desk from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $85.00 to $115.00 in a research note on Monday, November 25th. Cantor Fitzgerald lowered their target price on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. BMO Capital Markets reduced their price target on Trade Desk from $160.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Finally, Royal Bank of Canada lowered their price objective on Trade Desk from $120.00 to $100.00 and set an “outperform” rating on the stock in a report on Monday. Six investment 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 company. According to data from MarketBeat.com, Trade Desk currently has an average rating of “Moderate Buy” and a consensus price target of $116.41.

Insider Transactions at Trade Desk

In other Trade Desk news, 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 completion of the transaction, the insider now directly owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. The trade was a 9.85 % 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, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the sale, the insider now directly owns 90,709 shares in the company, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock valued at $5,004,296 in the last three months. 9.72% of the stock is owned by corporate insiders.

Trade Desk Stock Performance

Shares of NASDAQ:TTD opened at $55.32 on Thursday. The company’s fifty day moving average is $93.70 and its 200-day moving average is $110.50. The Trade Desk, Inc. has a 52 week low of $53.39 and a 52 week high of $141.53. The company has a market capitalization of $27.44 billion, a PE ratio of 70.92, a P/E/G 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 year.

Trade Desk declared that its board has initiated a stock repurchase program on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 0.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

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.