Ables Iannone Moore & Associates Inc. Grows Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Ables Iannone Moore & Associates Inc. boosted its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 3.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,535 shares of the technology company’s stock after acquiring an additional 2,522 shares during the period. Trade Desk accounts for approximately 3.2% of Ables Iannone Moore & Associates Inc.’s holdings, making the stock its 9th biggest holding. Ables Iannone Moore & Associates Inc.’s holdings in Trade Desk were worth $4,626,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Investment Management Corp VA ADV purchased a new position in Trade Desk during the fourth quarter valued at $25,000. Rialto Wealth Management LLC purchased a new position in Trade Desk during the fourth quarter valued at $26,000. Synergy Asset Management LLC purchased a new position in Trade Desk during the fourth quarter valued at $34,000. Midwest Capital Advisors LLC purchased a new position in Trade Desk during the fourth quarter valued at $34,000. Finally, Zions Bancorporation N.A. lifted its position in Trade Desk by 148.3% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after buying an additional 175 shares during the period. Institutional investors own 67.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TTD shares. Morgan Stanley raised their price objective on Trade Desk from $60.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Rosenblatt Securities started coverage on Trade Desk in a research report on Tuesday, April 29th. They set a “buy” rating and a $77.00 price objective for the company. Truist Financial raised their price objective on Trade Desk from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Cantor Fitzgerald lowered 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, Citizens Jmp lowered 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. Seven research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat.com, Trade Desk has an average rating of “Moderate Buy” and a consensus price target of $97.12.

Trade Desk Stock Performance

Shares of NASDAQ:TTD opened at $73.96 on Friday. The Trade Desk, Inc. has a fifty-two week low of $42.96 and a fifty-two week high of $141.53. The business has a 50-day simple moving average of $59.81 and a two-hundred day simple moving average of $90.51. The firm has a market cap of $36.69 billion, a price-to-earnings ratio of 94.82, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The business had revenue of $616.02 million during the quarter, compared to analyst estimates of $575.62 million. During the same quarter in the previous year, the firm earned $0.26 EPS. Trade Desk’s revenue was up 25.4% on a year-over-year basis. As a group, research analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

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

Insider Activity

In other news, Director David B. Wells sold 28,638 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now owns 66,985 shares of the company’s stock, valued at $5,350,761.80. This represents a 29.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey Terry Green sold 26,684 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $80.03, for a total value of $2,135,520.52. Following the transaction, the chief executive officer now owns 17,018 shares of the company’s stock, valued at approximately $1,361,950.54. This trade represents a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.72% of the company’s stock.

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.