Cary Street Partners Financial LLC Acquires New Position in The Trade Desk, Inc. (NASDAQ:TTD)

Cary Street Partners Financial LLC bought a new stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 5,351 shares of the technology company's stock, valued at approximately $629,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Rialto Wealth Management LLC acquired a new stake in shares of Trade Desk during the fourth quarter valued at about $26,000. Harbor Investment Advisory LLC increased its holdings 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 purchasing an additional 117 shares during the last quarter. Midwest Capital Advisors LLC purchased a new stake in Trade Desk in the fourth quarter valued at approximately $34,000. Zions Bancorporation N.A. lifted its stake in Trade Desk by 148.3% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock worth $34,000 after purchasing an additional 175 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Trade Desk during the fourth quarter worth $35,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Price Performance

NASDAQ:TTD opened at $60.02 on Friday. The firm has a market cap of $29.78 billion, a price-to-earnings ratio of 76.95, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29. The firm's fifty day moving average price is $54.55 and its 200 day moving average price is $95.64. The Trade Desk, Inc. has a 1-year low of $42.96 and a 1-year high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued 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%. As a group, analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its board has initiated a stock buyback program on Wednesday, February 12th that allows the company to repurchase $564.00 million in shares. This repurchase authorization allows the technology company to buy up to 0.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

TTD has been the topic of several research reports. Robert W. Baird decreased their target price on Trade Desk from $160.00 to $145.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Truist Financial cut their target price on shares of Trade Desk from $130.00 to $95.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Benchmark raised shares of Trade Desk from a "sell" rating to a "hold" rating in a research report on Friday, March 7th. KeyCorp cut their price objective on Trade Desk from $74.00 to $67.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Finally, Royal Bank of Canada lowered their target price on Trade Desk from $100.00 to $85.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Seven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $100.84.

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.

Want to see what other hedge funds are holding TTD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Trade Desk, Inc. (NASDAQ:TTD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.