SwitchPoint Financial Planning LLC Makes New Investment in The Trade Desk, Inc. (NASDAQ:TTD)

SwitchPoint Financial Planning LLC bought a new stake in The Trade Desk, Inc. (NASDAQ:TTD) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,006 shares of the technology company’s stock, valued at approximately $236,000.

A number of other institutional investors also recently modified their holdings of TTD. Lyell Wealth Management LP increased its stake in Trade Desk by 24.3% during the 4th quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock worth $11,558,000 after acquiring an additional 19,204 shares during the period. Nordea Investment Management AB increased its position in shares of Trade Desk by 36.2% in the fourth quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock worth $159,132,000 after purchasing an additional 358,350 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Trade Desk by 3.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,109,380 shares of the technology company’s stock worth $231,294,000 after purchasing an additional 68,206 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Trade Desk by 276.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company’s stock worth $8,255,000 after purchasing an additional 51,603 shares during the period. Finally, Independent Solutions Wealth Management LLC grew its stake in Trade Desk by 21.0% during the third quarter. Independent Solutions Wealth Management LLC now owns 64,358 shares of the technology company’s stock worth $7,057,000 after buying an additional 11,181 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on TTD. Evercore ISI cut shares of Trade Desk from an “outperform” rating to an “inline” rating and dropped their target price for the company from $135.00 to $90.00 in a research report on Thursday, February 13th. BMO Capital Markets lowered their price objective on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. DA Davidson reduced their target price on Trade Desk from $134.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Needham & Company LLC reissued a “buy” rating and set a $145.00 price target on shares of Trade Desk in a report on Thursday, March 13th. Finally, Truist Financial reduced 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. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $116.41.

Insider Activity at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total value of $2,283,886.08. Following the transaction, the chief executive officer now owns 704,229 shares in the company, valued at approximately $88,338,485.76. This represents a 2.52 % 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 firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock worth $5,004,296 in the last quarter. Company insiders own 9.72% of the company’s stock.

Trade Desk Trading Up 4.5 %

Shares of TTD opened at $62.00 on Wednesday. The firm’s fifty day simple moving average is $88.88 and its two-hundred day simple moving average is $109.33. The Trade Desk, Inc. has a 12 month low of $53.39 and a 12 month high of $141.53. The stock has a market capitalization of $30.76 billion, a P/E ratio of 79.49, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63.

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

Trade Desk declared that its board has authorized a share 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 repurchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Trade Desk 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.