Graney & King LLC Purchases Shares of 1,000 The Trade Desk, Inc. (NASDAQ:TTD)

Graney & King LLC acquired a new stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,000 shares of the technology company’s stock, valued at approximately $118,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in shares of Trade Desk in the 4th quarter valued at about $231,570,000. National Pension Service increased its stake in shares of Trade Desk by 104.1% during the fourth quarter. National Pension Service now owns 1,264,985 shares of the technology company’s stock worth $148,674,000 after purchasing an additional 645,240 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Trade Desk by 55.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company’s stock worth $169,892,000 after purchasing an additional 551,925 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Trade Desk by 1,809.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 444,616 shares of the technology company’s stock valued at $48,752,000 after buying an additional 421,333 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in Trade Desk by 326.1% during the 3rd quarter. Franklin Resources Inc. now owns 509,495 shares of the technology company’s stock worth $60,105,000 after buying an additional 389,917 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Stock Up 4.5 %

NASDAQ:TTD opened at $62.00 on Wednesday. The Trade Desk, Inc. has a 52 week low of $53.39 and a 52 week high of $141.53. The company has a fifty day simple moving average of $88.88 and a two-hundred day simple moving average of $109.33. The company has a market cap of $30.76 billion, a price-to-earnings ratio of 79.49, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last released 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%. On average, analysts expect that The Trade Desk, Inc. will post 1.06 EPS for the current year.

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. DA Davidson decreased their target price on Trade Desk from $134.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. BMO Capital Markets dropped their target price on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. StockNews.com downgraded shares of Trade Desk from a “buy” rating to a “hold” rating in a research note on Saturday, November 30th. Stifel Nicolaus dropped their price objective on shares of Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, JMP Securities decreased their target price on shares of Trade Desk from $150.00 to $115.00 and set a “market outperform” rating on the stock in a research note on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Trade Desk has an average rating of “Moderate Buy” and an average target price of $116.41.

Insider Activity at Trade Desk

In other news, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the completion of the transaction, the insider now directly owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the sale, the chief executive officer now owns 704,229 shares of the company’s stock, valued at $88,338,485.76. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,029 shares of company stock valued at $5,004,296 over the last 90 days. 9.72% of the stock is owned by corporate 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.