Sound View Wealth Advisors Group LLC Makes New Investment in The Trade Desk, Inc. (NASDAQ:TTD)

Sound View Wealth Advisors Group LLC purchased a new stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,093 shares of the technology company’s stock, valued at approximately $246,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Focus Financial Network Inc. raised its position in Trade Desk by 2.2% during the 4th 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 raised its position in shares of 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 last quarter. RMR Wealth Builders lifted its stake in shares of Trade Desk by 0.8% in 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 boosted its holdings in Trade Desk by 4.2% in the fourth quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock valued at $276,000 after acquiring an additional 94 shares during the last quarter. Finally, TFB Advisors LLC increased its position in Trade Desk by 2.6% during the 4th quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock valued at $442,000 after purchasing an additional 94 shares during the period. 67.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TTD has been the topic of a number of recent analyst reports. UBS Group boosted their price target on shares of Trade Desk from $116.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Loop Capital dropped their target price on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Cantor Fitzgerald decreased their price target on Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Benchmark raised Trade Desk from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Scotiabank decreased 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $119.45.

Insider Activity

In other news, insider Jay R. Grant sold 18,524 shares of the firm’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 sale, the insider now owns 169,464 shares in the company, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 value of $2,283,886.08. Following the completion of the transaction, the chief executive officer now owns 704,229 shares in the company, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,029 shares of company stock valued at $5,004,296 in the last ninety days. 9.72% of the stock is currently owned by insiders.

Trade Desk Price Performance

NASDAQ TTD opened at $60.31 on Tuesday. The company has a fifty day moving average price of $103.94 and a 200-day moving average price of $113.21. The firm has a market cap of $29.92 billion, a price-to-earnings ratio of 77.32, a PEG ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 1 year low of $60.20 and a 1 year high of $141.53.

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, research analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its Board of Directors has initiated a share buyback plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is 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.