Kestra Investment Management LLC Invests $39,000 in The Trade Desk, Inc. (NASDAQ:TTD)

Kestra Investment Management LLC bought a new position in The Trade Desk, Inc. (NASDAQ:TTD) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 336 shares of the technology company’s stock, valued at approximately $39,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Baillie Gifford & Co. boosted its position in shares of Trade Desk by 4.7% in the third quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock worth $4,245,218,000 after buying an additional 1,720,650 shares during the period. Jennison Associates LLC boosted its position in shares of Trade Desk by 11.0% in the third quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after buying an additional 2,013,047 shares during the period. Edgewood Management LLC boosted its position in shares of Trade Desk by 133.3% in the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock worth $1,089,280,000 after buying an additional 5,675,571 shares during the period. FMR LLC boosted its position in shares of Trade Desk by 1.3% in the third quarter. FMR LLC now owns 2,616,203 shares of the technology company’s stock worth $286,867,000 after buying an additional 32,999 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Trade Desk by 3.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,109,380 shares of the technology company’s stock worth $231,294,000 after buying an additional 68,206 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Trading Down 4.8 %

NASDAQ TTD opened at $72.06 on Friday. The stock’s 50 day moving average is $115.27 and its two-hundred day moving average is $115.09. The company has a market capitalization of $35.57 billion, a price-to-earnings ratio of 92.38, a PEG ratio of 3.11 and a beta of 1.45. The Trade Desk, Inc. has a 1-year low of $71.61 and a 1-year high of $141.53.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates 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, analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

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

Insider Activity

In other news, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the completion of the transaction, the chief executive officer now owns 704,229 shares in the company, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the transaction, the insider now owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,029 shares of company stock worth $5,004,296. Insiders own 9.72% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on TTD shares. Truist Financial decreased their target price on Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Wells Fargo & Company cut their price objective on Trade Desk from $142.00 to $101.00 and set an “overweight” rating for the company in a report on Friday, February 14th. JMP Securities cut their target price on Trade Desk from $150.00 to $115.00 and set a “market outperform” rating on the stock in a report on Thursday, February 13th. BTIG Research raised their target price on Trade Desk from $114.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, StockNews.com downgraded Trade Desk from a “buy” rating to a “hold” rating in a research report on Saturday, November 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $119.45.

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.