Blue Rock Wealth Management LLC Takes $705,000 Position in The Trade Desk, Inc. (NASDAQ:TTD)

Blue Rock Wealth Management LLC acquired a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,000 shares of the technology company's stock, valued at approximately $705,000. Trade Desk comprises approximately 0.7% of Blue Rock Wealth Management LLC's holdings, making the stock its 27th largest position.

Other hedge funds have also recently made changes to their positions in the company. Rialto Wealth Management LLC bought a new stake in Trade Desk during the 4th quarter worth approximately $26,000. Harbor Investment Advisory LLC grew its position in shares of Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company's stock valued at $34,000 after acquiring an additional 117 shares during the period. Synergy Asset Management LLC bought a new position in shares of Trade Desk during the 4th quarter worth $34,000. Midwest Capital Advisors LLC purchased a new position in shares of Trade Desk in the fourth quarter worth about $34,000. Finally, Zions Bancorporation N.A. raised its holdings in Trade Desk by 148.3% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock valued at $34,000 after acquiring an additional 175 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Stock Performance

Shares of TTD stock traded up $1.41 on Monday, reaching $55.50. The stock had a trading volume of 11,707,102 shares, compared to its average volume of 5,476,482. The Trade Desk, Inc. has a 1 year low of $42.96 and a 1 year high of $141.53. The stock has a market cap of $27.53 billion, a P/E ratio of 71.15, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29. The company has a 50 day simple moving average of $55.63 and a 200 day simple moving average of $97.04.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing the consensus estimate 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, equities research analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its Board of Directors has initiated a stock buyback 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 purchase up to 0.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

TTD has been the topic of a number of recent analyst reports. Piper Sandler assumed coverage on shares of Trade Desk in a report on Thursday, April 17th. They issued a "neutral" rating and a $55.00 price target on the stock. BMO Capital Markets decreased their target price on Trade Desk from $160.00 to $115.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Jefferies Financial Group set a $125.00 price target on Trade Desk and gave the company a "buy" rating in a research report on Tuesday, April 29th. Wells Fargo & Company decreased their price objective on shares of Trade Desk from $101.00 to $72.00 and set an "overweight" rating on the stock in a research report on Monday, March 31st. Finally, Benchmark raised shares of Trade Desk from a "sell" rating to a "hold" rating in a report on Friday, March 7th. Seven investment analysts have rated the stock with a hold rating, twenty-four 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 target price of $100.84.

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.