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 the company in its most recent filing with the SEC. The fund owned 4,090 shares of the technology company’s stock after purchasing an additional 570 shares during the period. Prosperity Wealth Management Inc.’s holdings in Trade Desk were worth $481,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Natural Investments LLC bought a new position in shares of Trade Desk during the 4th quarter valued at $262,000. AGF Management Ltd. bought a new position in shares of Trade Desk during the 4th quarter valued at $419,000. Clare Market Investments LLC bought a new position in shares of Trade Desk during the 4th quarter valued at $1,008,000. Independent Advisor Alliance boosted its position in Trade Desk by 7.1% during the 4th quarter. Independent Advisor Alliance now owns 40,024 shares of the technology company’s stock valued at $4,704,000 after buying an additional 2,670 shares during the period. Finally, Gallagher Capital Advisors LLC purchased a new stake in Trade Desk during the 4th quarter valued at $1,021,000. Institutional investors own 67.77% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the completion of the transaction, the insider now directly owns 169,464 shares of the company’s stock, valued at $20,225,528.40. The trade was a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the sale, the insider now directly owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,029 shares of company stock valued at $5,004,296. Insiders own 9.72% of the company’s stock.

Analyst Upgrades and Downgrades

TTD has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Trade Desk from a “buy” rating to a “hold” rating in a report on Saturday, November 30th. Cantor Fitzgerald cut their price target on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Wolfe Research raised their price target on shares of Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Citigroup cut their price target on shares of Trade Desk from $140.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, BMO Capital Markets cut their price target on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $119.45.

Trade Desk Stock Performance

Shares of Trade Desk stock opened at $58.84 on Wednesday. The stock has a market capitalization of $29.19 billion, a PE ratio of 75.44, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. 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.

Trade Desk (NASDAQ:TTD) last issued its earnings results 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 16.38% and a net margin of 16.08%. As a group, equities research analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to purchase up to 0.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management 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.