Prosperity Wealth Management Inc. Acquires 570 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Prosperity Wealth Management Inc. lifted its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 16.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,090 shares of the technology company’s stock after purchasing an additional 570 shares during the quarter. Prosperity Wealth Management Inc.’s holdings in Trade Desk were worth $481,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Rialto Wealth Management LLC bought a new position in Trade Desk in the fourth quarter valued at approximately $26,000. Harbor Investment Advisory LLC boosted its position in Trade Desk by 68.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after buying an additional 117 shares in the last quarter. Synergy Asset Management LLC acquired a new stake in Trade Desk in the fourth quarter valued at approximately $34,000. Midwest Capital Advisors LLC acquired a new stake in Trade Desk in the fourth quarter valued at approximately $34,000. Finally, Exchange Traded Concepts LLC acquired a new stake in Trade Desk in the fourth quarter valued at approximately $35,000. 67.77% of the stock is owned by institutional investors.

Trade Desk Stock Performance

Shares of TTD stock opened at $58.84 on Wednesday. The Trade Desk, Inc. has a 52-week low of $58.57 and a 52-week high of $141.53. The company has a 50-day simple moving average of $102.74 and a two-hundred day simple moving average of $112.90. The company has a market capitalization of $29.19 billion, a price-to-earnings ratio of 75.44, a PEG ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, sell-side analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its board has authorized a share buyback program on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

TTD has been the topic of a number of research analyst reports. Wolfe Research raised their target price on shares of Trade Desk from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. New Street Research upgraded shares of Trade Desk from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $85.00 to $115.00 in a report on Monday, November 25th. Piper Sandler reiterated an “overweight” rating and set a $110.00 price target (down previously from $140.00) on shares of Trade Desk in a report on Thursday, February 13th. Royal Bank of Canada cut their price target on shares of Trade Desk from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, Wedbush lifted their price target on shares of Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $119.45.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the transaction, the insider now directly owns 90,709 shares in the company, valued at $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were 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 in the company, valued at $88,338,485.76. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,029 shares of company stock worth $5,004,296 over the last three months. 9.72% of the stock is currently owned by insiders.

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.