Interchange Capital Partners LLC Acquires 179 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Interchange Capital Partners LLC increased its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 4.4% during the 4th quarter, HoldingsChannel reports. The firm owned 4,202 shares of the technology company’s stock after purchasing an additional 179 shares during the period. Interchange Capital Partners LLC’s holdings in Trade Desk were worth $494,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TTD. Rialto Wealth Management LLC acquired a new stake in Trade Desk in the 4th quarter valued at approximately $26,000. 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 valued at $34,000 after buying an additional 117 shares during the last quarter. Synergy Asset Management LLC acquired a new stake in Trade Desk in the 4th quarter valued at approximately $34,000. Midwest Capital Advisors LLC acquired a new stake in Trade Desk in the 4th quarter valued at approximately $34,000. Finally, Exchange Traded Concepts LLC acquired a new stake in Trade Desk in the 4th quarter valued at approximately $35,000. Institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Performance

NASDAQ:TTD opened at $56.31 on Monday. The Trade Desk, Inc. has a fifty-two week low of $53.39 and a fifty-two week high of $141.53. The company has a market cap of $27.93 billion, a price-to-earnings ratio of 72.19, a PEG ratio of 3.11 and a beta of 1.63. The stock has a fifty day moving average price of $91.14 and a 200-day moving average price of $109.91.

Trade Desk (NASDAQ:TTD) last posted 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 return on equity of 16.38% and a net margin of 16.08%. Research analysts predict that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the 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 transaction, the insider now owns 169,464 shares in the company, valued at approximately $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 Securities & Exchange Commission, 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 stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the transaction, the insider now owns 90,709 shares in the company, valued at approximately $10,754,459.04. The trade was 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 valued at $5,004,296. Company insiders own 9.72% of the company’s stock.

Wall Street Analyst Weigh In

TTD has been the topic of a number of recent research reports. Truist Financial dropped their target price on Trade Desk from $155.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Stifel Nicolaus lowered their price target on Trade Desk from $144.00 to $122.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. BMO Capital Markets lowered their price target on Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. KeyCorp lowered their price target on Trade Desk from $130.00 to $74.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Finally, Scotiabank reduced their target price on Trade Desk from $133.00 to $83.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $116.41.

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.