Corient Private Wealth LLC Trims Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Corient Private Wealth LLC trimmed its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 1.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,826 shares of the technology company’s stock after selling 336 shares during the quarter. Corient Private Wealth LLC’s holdings in Trade Desk were worth $3,741,000 as of its most recent SEC filing.

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

Insider Activity

In related news, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction dated 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 trade represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were 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 in the company, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,029 shares of company stock worth $5,004,296. Company insiders own 9.72% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Cantor Fitzgerald dropped their price target on Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Piper Sandler reiterated an “overweight” rating and set a $110.00 target price (down from $140.00) on shares of Trade Desk in a research report on Thursday, February 13th. Wells Fargo & Company lowered their target price 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. DA Davidson lowered their target price 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. Finally, Loop Capital lowered their target price on Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $116.41.

Trade Desk Trading Up 0.8 %

Shares of Trade Desk stock opened at $56.31 on Friday. The firm has a market cap of $27.93 billion, a P/E ratio of 72.19, a P/E/G ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 12 month low of $53.39 and a 12 month high of $141.53. The stock’s fifty day moving average price is $91.14 and its 200-day moving average price is $109.85.

Trade Desk (NASDAQ:TTD) last announced its quarterly 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 net margin of 16.08% and a return on equity of 16.38%. Analysts forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to buyback $564.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 0.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

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.