Ashton Thomas Private Wealth LLC Has $1.74 Million Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Ashton Thomas Private Wealth LLC boosted its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 112.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,816 shares of the technology company’s stock after purchasing an additional 7,828 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Trade Desk were worth $1,741,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Harbor Investment Advisory LLC increased its holdings 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 purchasing an additional 117 shares during the period. Synergy Asset Management LLC acquired a new stake in Trade Desk during the 4th quarter worth about $34,000. Midwest Capital Advisors LLC acquired a new stake in Trade Desk during the 4th quarter worth about $34,000. Exchange Traded Concepts LLC acquired a new stake in Trade Desk during the 4th quarter worth about $35,000. Finally, Kestra Investment Management LLC acquired a new stake in Trade Desk during the 4th quarter worth about $39,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Stock Down 0.1 %

Trade Desk stock opened at $64.91 on Friday. The Trade Desk, Inc. has a 52 week low of $63.82 and a 52 week high of $141.53. The company’s 50 day moving average price is $103.94 and its two-hundred day moving average price is $113.14. The stock has a market cap of $32.20 billion, a P/E ratio of 83.22, a P/E/G ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last posted its 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 return on equity of 16.38% and a net margin of 16.08%. On average, equities analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current year.

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

Wall Street Analysts Forecast Growth

TTD has been the subject of a number of recent analyst reports. Wolfe Research increased their price target on Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. UBS Group increased their price target on Trade Desk from $116.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Citizens Jmp upgraded Trade Desk to a “strong-buy” rating in a report on Tuesday, January 21st. Robert W. Baird reduced their target price on Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Finally, Scotiabank reduced their target price on Trade Desk from $133.00 to $83.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $119.45.

Insiders Place Their Bets

In related news, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk stock in a transaction that occurred on 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 sale, the chief executive officer now owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the completion of the sale, the insider now directly owns 169,464 shares in the company, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,029 shares of company stock valued at $5,004,296 in the last 90 days. 9.72% of the stock is currently owned by corporate insiders.

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.