Wealthedge Investment Advisors LLC Invests $591,000 in The Trade Desk, Inc. (NASDAQ:TTD)

Wealthedge Investment Advisors LLC bought 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 & Exchange Commission. The institutional investor bought 5,027 shares of the technology company's stock, valued at approximately $591,000.

Several other large investors also recently made changes to their positions in the business. Lighthouse Financial LLC bought a new stake in shares of Trade Desk during the fourth quarter worth $3,536,000. Wood Tarver Financial Group LLC bought a new stake in shares of Trade Desk during the fourth quarter worth $117,000. Park Square Financial Group LLC bought a new position in Trade Desk in the fourth quarter valued at about $47,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Trade Desk in the fourth quarter valued at about $24,963,000. Finally, Hall Capital Management Co. Inc. bought a new position in Trade Desk in the fourth quarter valued at about $236,000. Institutional investors own 67.77% of the company's stock.

Trade Desk Stock Performance

Trade Desk stock traded down $0.92 during midday trading on Friday, reaching $73.96. The stock had a trading volume of 6,878,665 shares, compared to its average volume of 6,037,489. The firm's fifty day simple moving average is $59.81 and its 200-day simple moving average is $90.51. 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 capitalization of $36.69 billion, a P/E ratio of 94.82, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $575.62 million. During the same quarter last year, the firm earned $0.26 EPS. Trade Desk's revenue for the quarter was up 25.4% compared to the same quarter last year. On average, sell-side analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its board has authorized a share buyback 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 leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Macquarie raised their price target on Trade Desk from $90.00 to $92.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Robert W. Baird decreased their price target on Trade Desk from $160.00 to $145.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Stifel Nicolaus decreased their price target on Trade Desk from $122.00 to $87.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Piper Sandler raised their price target on Trade Desk from $55.00 to $65.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Finally, Rosenblatt Securities assumed coverage on Trade Desk in a report on Tuesday, April 29th. They issued a "buy" rating and a $77.00 price target on the stock. Seven analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $97.12.

Insider Activity at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 26,684 shares of the firm'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 completion of the transaction, the chief executive officer now directly owns 17,018 shares in the company, valued at $1,361,950.54. This trade represents a 61.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David B. Wells sold 28,638 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total value of $2,287,603.44. Following the completion of the transaction, the director now owns 66,985 shares of the company's stock, valued at approximately $5,350,761.80. This represents a 29.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.72% of the stock is owned by insiders.

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.