Empower Advisory Group LLC Increases Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Empower Advisory Group LLC lifted its position in The Trade Desk, Inc. (NASDAQ:TTD) by 49.4% in the 4th quarter, HoldingsChannel reports. The firm owned 18,608 shares of the technology company’s stock after purchasing an additional 6,154 shares during the quarter. Empower Advisory Group LLC’s holdings in Trade Desk were worth $2,187,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Focus Financial Network Inc. raised its stake in shares of Trade Desk by 2.2% in the fourth 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 last quarter. CAP Partners LLC grew its holdings in Trade Desk by 1.4% during the third quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock worth $702,000 after acquiring an additional 86 shares during the period. RMR Wealth Builders grew its holdings in Trade Desk by 0.8% during the fourth 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. Quotient Wealth Partners LLC grew its holdings in Trade Desk by 4.2% during the fourth quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock worth $276,000 after acquiring an additional 94 shares during the period. Finally, TFB Advisors LLC grew its holdings in Trade Desk by 2.6% during the fourth quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock worth $442,000 after acquiring an additional 94 shares during the period. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Trade Desk Stock Performance

NASDAQ:TTD opened at $80.03 on Wednesday. The stock has a 50-day simple moving average of $119.84 and a 200-day simple moving average of $115.53. The stock has a market cap of $39.50 billion, a P/E ratio of 131.20, a P/E/G ratio of 3.63 and a beta of 1.45. The Trade Desk, Inc. has a 1 year low of $76.12 and a 1 year high of $141.53.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a return on equity of 13.17% and a net margin of 13.34%. On average, equities research analysts predict that The Trade Desk, Inc. will post 0.87 EPS for the current year.

Trade Desk announced that its board has approved a stock 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 shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts recently commented on TTD shares. Piper Sandler reaffirmed an “overweight” rating and set a $110.00 target price (down from $140.00) on shares of Trade Desk in a report on Thursday, February 13th. Susquehanna dropped their target price on Trade Desk from $150.00 to $135.00 and set a “positive” rating on the stock in a report on Thursday, February 13th. BMO Capital Markets dropped their target price on Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Wolfe Research raised their price objective on Trade Desk from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, BTIG Research raised their price objective on Trade Desk from $114.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $120.97.

Insider Activity

In other news, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the sale, the insider now directly owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the completion of the sale, the chief executive officer now directly owns 704,229 shares of the company’s stock, 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. In the last three months, insiders sold 41,029 shares of company stock valued at $5,004,296. Insiders own 9.72% of the company’s stock.

Trade Desk 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.