NorthRock Partners LLC Buys Shares of 3,962 The Trade Desk, Inc. (NASDAQ:TTD)

NorthRock Partners LLC bought a new stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,962 shares of the technology company's stock, valued at approximately $466,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lyell Wealth Management LP boosted its stake in Trade Desk by 24.3% in the fourth quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company's stock valued at $11,558,000 after acquiring an additional 19,204 shares during the period. Assenagon Asset Management S.A. boosted its stake in 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 valued at $8,255,000 after acquiring an additional 51,603 shares during the period. Yousif Capital Management LLC boosted its stake in Trade Desk by 5.4% in the fourth quarter. Yousif Capital Management LLC now owns 5,856 shares of the technology company's stock valued at $688,000 after acquiring an additional 300 shares during the period. Allworth Financial LP boosted its stake in Trade Desk by 46.3% in the fourth quarter. Allworth Financial LP now owns 5,470 shares of the technology company's stock valued at $660,000 after acquiring an additional 1,732 shares during the period. Finally, Cherry Creek Investment Advisors Inc. boosted its stake in Trade Desk by 10.3% in the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 52,144 shares of the technology company's stock valued at $6,128,000 after acquiring an additional 4,878 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Stock Down 1.5%

Shares of NASDAQ:TTD opened at $76.31 on Friday. The company's fifty day moving average is $56.12 and its two-hundred day moving average is $93.89. The Trade Desk, Inc. has a 12-month low of $42.96 and a 12-month high of $141.53. The company has a market cap of $37.86 billion, a P/E ratio of 97.83, 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 the consensus estimate of $0.26 by $0.07. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The company had revenue of $616.02 million for the quarter, compared to the consensus estimate of $575.62 million. During the same period in the previous year, the business earned $0.26 EPS. The company's revenue was up 25.4% on a year-over-year basis. Equities research analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

TTD has been the subject of several analyst reports. Citizens Jmp reduced their price objective on Trade Desk from $115.00 to $100.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Robert W. Baird reduced their price objective on Trade Desk from $160.00 to $145.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. UBS Group reduced their price objective on Trade Desk from $116.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Cantor Fitzgerald reduced their price objective on Trade Desk from $115.00 to $100.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Finally, Wells Fargo & Company reduced their price objective on Trade Desk from $101.00 to $72.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. Seven investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $98.88.

Insider Activity

In other news, CEO Jeffrey Terry Green sold 26,684 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the transaction, the chief executive officer now directly owns 17,018 shares in the company, valued at $1,361,950.54. The trade was a 61.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David B. Wells sold 28,638 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the transaction, the director now owns 66,985 shares in the company, 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. 9.74% of the stock is currently owned by corporate insiders.

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.

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