Glenview Trust co Raises Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Glenview Trust co grew its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 13.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,575 shares of the technology company’s stock after purchasing an additional 305 shares during the period. Glenview Trust co’s holdings in Trade Desk were worth $303,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Rialto Wealth Management LLC purchased a new stake in Trade Desk during the fourth quarter worth about $26,000. Harbor Investment Advisory LLC increased its stake in Trade Desk by 68.8% during the fourth 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 period. Synergy Asset Management LLC purchased a new stake in Trade Desk during the fourth quarter worth about $34,000. Midwest Capital Advisors LLC purchased a new stake in Trade Desk during the fourth quarter worth about $34,000. Finally, Exchange Traded Concepts LLC purchased a new stake in Trade Desk during the fourth quarter worth about $35,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Trade Desk Trading Up 4.7 %

Shares of NASDAQ TTD opened at $56.50 on Tuesday. The Trade Desk, Inc. has a twelve month low of $53.42 and a twelve month high of $141.53. The stock has a 50 day moving average of $96.38 and a two-hundred day moving average of $111.25. The stock has a market cap of $28.03 billion, a P/E ratio of 72.44, a P/E/G ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last released its quarterly 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%. As a group, research analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its board has authorized a stock 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 reacquire up to 0.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TTD. Truist Financial lowered their price objective on Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Royal Bank of Canada lowered their price objective on Trade Desk from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Cantor Fitzgerald lowered their price objective on Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Evercore ISI downgraded Trade Desk from an “outperform” rating to an “inline” rating and lowered their price objective for the stock from $135.00 to $90.00 in a research report on Thursday, February 13th. Finally, Wolfe Research boosted their price objective on Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $119.45.

Insider Transactions at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was 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. This represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the sale, the insider now owns 169,464 shares of the company’s stock, 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 sold 41,029 shares of company stock worth $5,004,296 over the last 90 days. 9.72% of the stock is currently owned by insiders.

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.