Sagespring Wealth Partners LLC Takes Position in The Trade Desk, Inc. (NASDAQ:TTD)

Sagespring Wealth Partners LLC acquired a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,775 shares of the technology company’s stock, valued at approximately $444,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TTD. Focus Financial Network Inc. boosted its position in Trade Desk by 2.2% during the 4th quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock worth $456,000 after acquiring an additional 84 shares during the last quarter. RMR Wealth Builders lifted its stake in Trade Desk by 0.8% in the fourth quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock valued at $1,247,000 after acquiring an additional 89 shares during the last quarter. Quotient Wealth Partners LLC grew its position in shares of Trade Desk by 4.2% in the 4th quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock valued at $276,000 after acquiring an additional 94 shares during the period. TFB Advisors LLC raised its holdings in shares of Trade Desk by 2.6% in the 4th quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock valued at $442,000 after purchasing an additional 94 shares during the period. Finally, Centurion Wealth Management LLC grew its holdings in Trade Desk by 2.6% during the fourth quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company’s stock worth $443,000 after purchasing an additional 96 shares during the period. 67.77% of the stock is currently owned by institutional investors.

Trade Desk Stock Performance

Shares of TTD stock opened at $49.24 on Wednesday. The Trade Desk, Inc. has a fifty-two week low of $42.96 and a fifty-two week high of $141.53. The stock’s fifty day moving average price is $65.74 and its two-hundred day moving average price is $102.80. The company has a market cap of $24.43 billion, a PE ratio of 63.13, a P/E/G ratio of 3.11 and a beta of 1.56.

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 the consensus estimate 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, equities analysts predict that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value 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 represents a 4.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wells Fargo & Company reduced their target price on Trade Desk from $101.00 to $72.00 and set an “overweight” rating for the company in a research note on Monday, March 31st. Robert W. Baird decreased their price objective on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Benchmark upgraded shares of Trade Desk from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Wolfe Research upped their price target on shares of Trade Desk from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, Royal Bank of Canada cut their price objective on shares of Trade Desk from $120.00 to $100.00 and set an “outperform” rating for the company in a research report on Monday, March 17th. 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. According to MarketBeat.com, Trade Desk presently has a consensus rating of “Moderate Buy” and an average target price of $109.69.

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.