Cherry Creek Investment Advisors Inc. Grows Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Cherry Creek Investment Advisors Inc. increased its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 10.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 52,144 shares of the technology company’s stock after acquiring an additional 4,878 shares during the quarter. Trade Desk accounts for 3.0% of Cherry Creek Investment Advisors Inc.’s investment portfolio, making the stock its 9th largest holding. Cherry Creek Investment Advisors Inc.’s holdings in Trade Desk were worth $6,128,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. CAP Partners LLC lifted its position in Trade Desk by 1.4% during the 3rd quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock valued at $702,000 after acquiring an additional 86 shares during the period. RMR Wealth Builders raised its stake in Trade Desk by 0.8% during the 4th quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock worth $1,247,000 after acquiring an additional 89 shares during the period. Allworth Financial LP boosted its stake in shares of Trade Desk by 2.7% in the third quarter. Allworth Financial LP now owns 3,738 shares of the technology company’s stock worth $410,000 after acquiring an additional 97 shares during the period. Parisi Gray Wealth Management grew its stake in Trade Desk by 2.2% during the fourth quarter. Parisi Gray Wealth Management now owns 4,534 shares of the technology company’s stock valued at $533,000 after acquiring an additional 99 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its position in shares of Trade Desk by 37.7% during the 3rd quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock valued at $40,000 after acquiring an additional 100 shares during the last quarter. 67.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. KeyCorp lifted their price target on shares of Trade Desk from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Friday, January 10th. StockNews.com downgraded shares of Trade Desk from a “buy” rating to a “hold” rating in a research note on Saturday, November 30th. Citigroup raised their target price on shares of Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Oppenheimer boosted their target price on shares of Trade Desk from $120.00 to $135.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada upped their target price on Trade Desk from $136.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.13.

Insiders Place Their Bets

In related news, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was 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 of the company’s stock, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jeffrey Terry Green sold 512,953 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $124.67, for a total value of $63,949,850.51. Following the sale, the chief executive officer now owns 243,476 shares in the company, valued at $30,354,152.92. This represents a 67.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 549,684 shares of company stock valued at $68,444,576 over the last 90 days. 9.72% of the stock is currently owned by insiders.

Trade Desk Trading Down 0.7 %

Shares of Trade Desk stock opened at $119.10 on Tuesday. The firm’s 50-day moving average price is $125.87 and its two-hundred day moving average price is $113.80. The Trade Desk, Inc. has a 1-year low of $66.56 and a 1-year high of $141.53. The stock has a market capitalization of $58.78 billion, a price-to-earnings ratio of 195.25, a P/E/G ratio of 3.82 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Thursday, November 7th. The technology company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.21). Trade Desk had a net margin of 13.34% and a return on equity of 13.17%. The company had revenue of $628.02 million during the quarter, compared to the consensus estimate of $619.89 million. During the same period last year, the company earned $0.08 earnings per share. As a group, equities research analysts predict that The Trade Desk, Inc. will post 0.87 EPS for the current year.

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.