Proficio Capital Partners LLC Takes Position in The Trade Desk, Inc. (NASDAQ:TTD)

Proficio Capital Partners LLC acquired a new stake in The Trade Desk, Inc. (NASDAQ:TTD) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 199,816 shares of the technology company’s stock, valued at approximately $23,484,000.

Other institutional investors have also modified their holdings of the company. Harbor Investment Advisory LLC raised its position in shares of 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 buying an additional 117 shares during the last quarter. Midwest Capital Advisors LLC acquired a new position in shares of Trade Desk in the fourth quarter valued at approximately $34,000. Exchange Traded Concepts LLC acquired a new position in shares of Trade Desk in the fourth quarter valued at approximately $35,000. Synergy Asset Management LLC acquired a new position in shares of Trade Desk in the fourth quarter valued at approximately $34,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Trade Desk in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TTD shares. Wells Fargo & Company dropped their price target on shares of Trade Desk from $142.00 to $101.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price target on shares of Trade Desk in a research report on Thursday, February 13th. Evercore ISI lowered shares of Trade Desk from an “outperform” rating to an “inline” rating and dropped their price target for the stock from $135.00 to $90.00 in a research report on Thursday, February 13th. Stifel Nicolaus dropped their price target on shares of Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, BMO Capital Markets dropped their price target on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $119.45.

Insider Activity

In other news, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $119.35, for a total value 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 approximately $20,225,528.40. The trade was a 9.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction dated 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 transaction, the insider now directly owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 41,029 shares of company stock valued at $5,004,296. Company insiders own 9.72% of the company’s stock.

Trade Desk Price Performance

Shares of TTD stock opened at $70.31 on Friday. The firm has a market cap of $34.70 billion, a P/E ratio of 90.14, a P/E/G ratio of 3.11 and a beta of 1.45. The Trade Desk, Inc. has a 1-year low of $69.37 and a 1-year high of $141.53. The firm has a fifty day moving average of $110.70 and a two-hundred day moving average of $114.44.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share 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, sell-side analysts expect that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk announced that its Board of Directors 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 purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

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.