Rialto Wealth Management LLC Purchases New Position in The Trade Desk, Inc. (NASDAQ:TTD)

Rialto Wealth Management LLC purchased a new position in The Trade Desk, Inc. (NASDAQ:TTD) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 223 shares of the technology company’s stock, valued at approximately $26,000.

Several other large investors also recently added to or reduced their stakes in TTD. Farther Finance Advisors LLC lifted its holdings in shares of Trade Desk by 21.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,335 shares of the technology company’s stock worth $256,000 after acquiring an additional 417 shares during the last quarter. CWA Asset Management Group LLC bought a new stake in Trade Desk during the 3rd quarter valued at about $219,000. Assetmark Inc. grew its stake in Trade Desk by 2,461.2% in the 3rd quarter. Assetmark Inc. now owns 73,559 shares of the technology company’s stock worth $8,066,000 after acquiring an additional 70,687 shares in the last quarter. Bridges Investment Management Inc. increased its position in shares of Trade Desk by 4.0% during the third quarter. Bridges Investment Management Inc. now owns 7,474 shares of the technology company’s stock worth $820,000 after acquiring an additional 288 shares during the period. Finally, Atria Investments Inc raised its stake in shares of Trade Desk by 3.3% during the third quarter. Atria Investments Inc now owns 31,876 shares of the technology company’s stock valued at $3,495,000 after acquiring an additional 1,033 shares in the last quarter. 67.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Truist Financial dropped their price objective on Trade Desk from $155.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. UBS Group raised their price target on Trade Desk from $116.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Scotiabank lowered their price objective on shares of 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. Needham & Company LLC reissued a “buy” rating and set a $145.00 target price on shares of Trade Desk in a research report on Friday. Finally, Susquehanna reduced their price target on shares of Trade Desk from $150.00 to $135.00 and set a “positive” rating for the company in a report on Thursday, February 13th. Six equities research 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $119.45.

Insider Activity

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the sale, the chief executive officer now owns 704,229 shares in the company, valued at $88,338,485.76. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jay R. Grant sold 18,524 shares of the firm’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 directly owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,029 shares of company stock valued at $5,004,296. Company insiders own 9.72% of the company’s stock.

Trade Desk Trading Down 0.1 %

NASDAQ:TTD opened at $64.91 on Monday. The Trade Desk, Inc. has a twelve month low of $63.82 and a twelve month high of $141.53. The company has a market cap of $32.20 billion, a PE ratio of 83.22, a P/E/G ratio of 3.11 and a beta of 1.63. The company’s 50 day moving average is $103.94 and its two-hundred day moving average is $113.21.

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

Trade Desk announced that its board has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 0.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership 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.