Putney Financial Group LLC Purchases New Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Putney Financial Group LLC purchased a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 20,821 shares of the technology company's stock, valued at approximately $2,447,000. Trade Desk comprises approximately 1.7% of Putney Financial Group LLC's portfolio, making the stock its 11th largest position.

A number of other large investors have also bought and sold shares of the business. Focus Financial Network Inc. lifted its holdings in Trade Desk by 2.2% during the 4th quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company's stock worth $456,000 after buying an additional 84 shares in the last quarter. Quotient Wealth Partners LLC lifted its holdings in Trade Desk by 4.2% during the 4th quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company's stock worth $276,000 after buying an additional 94 shares in the last quarter. TFB Advisors LLC lifted its holdings in Trade Desk by 2.6% during the 4th quarter. TFB Advisors LLC now owns 3,759 shares of the technology company's stock worth $442,000 after buying an additional 94 shares in the last quarter. Centurion Wealth Management LLC lifted its holdings in Trade Desk by 2.6% during the 4th quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company's stock worth $443,000 after buying an additional 96 shares in the last quarter. Finally, Values First Advisors Inc. lifted its holdings in Trade Desk by 0.9% during the 4th quarter. Values First Advisors Inc. now owns 11,892 shares of the technology company's stock worth $1,398,000 after buying an additional 107 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors.

Trade Desk Stock Performance

Trade Desk stock traded up $0.88 during midday trading on Wednesday, reaching $76.94. 6,551,988 shares of the company's stock were exchanged, compared to its average volume of 6,008,017. The Trade Desk, Inc. has a 52 week low of $42.96 and a 52 week high of $141.53. The firm has a market cap of $38.17 billion, a price-to-earnings ratio of 98.64, a P/E/G ratio of 3.11 and a beta of 1.29. The stock's 50-day simple moving average is $59.26 and its 200 day simple moving average is $91.28.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.07. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The business had revenue of $616.02 million during the quarter, compared to analysts' expectations of $575.62 million. During the same quarter last year, the company posted $0.26 earnings per share. Trade Desk's quarterly revenue was up 25.4% on a year-over-year basis. Research analysts forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in shares. This repurchase authorization authorizes the technology company to purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. DA Davidson reduced their price objective on Trade Desk from $103.00 to $92.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Cfra Research raised Trade Desk to a "moderate buy" rating in a research note on Tuesday, March 25th. Cantor Fitzgerald cut their price target on Trade Desk from $115.00 to $100.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. HSBC set a $75.00 price target on Trade Desk and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Finally, Wedbush reissued an "outperform" rating and issued a $86.00 price target (up previously from $80.00) on shares of Trade Desk in a research note on Friday, May 9th. Seven investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $97.12.

Insider Transactions at Trade Desk

In other news, Director David B. Wells sold 28,638 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the completion of the sale, the director now owns 66,985 shares in the company, valued at $5,350,761.80. The trade was a 29.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey Terry Green sold 26,684 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $80.03, for a total value of $2,135,520.52. Following the sale, the chief executive officer now owns 17,018 shares of the company's stock, valued at approximately $1,361,950.54. This represents a 61.06% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.72% of the company's stock.

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.