Ieq Capital LLC Sells 925 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Ieq Capital LLC trimmed its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 7.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,287 shares of the technology company’s stock after selling 925 shares during the period. Ieq Capital LLC’s holdings in Trade Desk were worth $1,444,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Harbor Investment Advisory LLC grew its holdings in shares of Trade Desk by 68.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after purchasing an additional 117 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in Trade Desk during the fourth quarter worth about $35,000. Synergy Asset Management LLC acquired a new stake in shares of Trade Desk during the fourth quarter worth approximately $34,000. Kestra Investment Management LLC bought a new position in shares of Trade Desk in the fourth quarter valued at approximately $39,000. Finally, Avior Wealth Management LLC boosted its holdings in shares of Trade Desk by 37.7% in the 3rd quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock worth $40,000 after acquiring an additional 100 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Stock Performance

NASDAQ TTD opened at $74.20 on Tuesday. The stock has a market cap of $36.62 billion, a price-to-earnings ratio of 95.13, a PEG ratio of 3.11 and a beta of 1.45. The business has a 50 day simple moving average of $114.10 and a 200 day simple moving average of $115.21. The Trade Desk, Inc. has a 52-week low of $70.44 and a 52-week 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 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, analysts predict that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 0.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Morgan Stanley cut their price objective on Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Cantor Fitzgerald lowered their price objective on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Wedbush increased their price target on shares of Trade Desk from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Robert W. Baird dropped their price objective on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Finally, Wells Fargo & Company lowered their target price on Trade Desk from $142.00 to $101.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $119.45.

Insider Buying and Selling at Trade Desk

In related news, insider Jay R. Grant sold 18,524 shares of the stock in a transaction 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 owns 169,464 shares in the company, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction 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 completion of the sale, the insider now owns 90,709 shares in the company, valued at $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 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 company insiders.

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.