The Trade Desk, Inc. (NASDAQ:TTD) Position Boosted by Kirtland Hills Capital Management LLC

Kirtland Hills Capital Management LLC increased its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 10.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,479 shares of the technology company’s stock after buying an additional 1,040 shares during the quarter. Kirtland Hills Capital Management LLC’s holdings in Trade Desk were worth $1,349,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Harbor Investment Advisory LLC boosted its stake in Trade Desk by 68.8% during 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 in the last quarter. Synergy Asset Management LLC bought a new position in Trade Desk during the 4th quarter valued at $34,000. Midwest Capital Advisors LLC bought a new position in Trade Desk during the 4th quarter valued at $34,000. Exchange Traded Concepts LLC bought a new position in Trade Desk during the 4th quarter valued at $35,000. Finally, Kestra Investment Management LLC bought a new position in Trade Desk during the 4th quarter valued at $39,000. 67.77% of the stock is owned by institutional investors.

Trade Desk Price Performance

Trade Desk stock opened at $74.98 on Wednesday. The company has a market capitalization of $37.01 billion, a price-to-earnings ratio of 96.13, a PEG ratio of 3.11 and a beta of 1.45. The Trade Desk, Inc. has a one year low of $70.44 and a one year high of $141.53. The company’s fifty day moving average price is $112.90 and its two-hundred day moving average price is $115.03.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. As a group, sell-side analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its board has authorized a stock 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 reacquire up to 0.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other news, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the sale, the insider now directly owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 704,229 shares in the company, valued at approximately $88,338,485.76. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,029 shares of company stock valued at $5,004,296. 9.72% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Scotiabank decreased their price target on Trade Desk from $133.00 to $83.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. DA Davidson cut their price objective on Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. BTIG Research increased their price objective on Trade Desk from $114.00 to $142.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. UBS Group increased their price objective on Trade Desk from $116.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Finally, 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 research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $119.45.

Trade Desk Company 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.