Pittenger & Anderson Inc. Grows Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Pittenger & Anderson Inc. boosted its holdings in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 64.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,930 shares of the technology company's stock after acquiring an additional 5,060 shares during the quarter. Pittenger & Anderson Inc.'s holdings in Trade Desk were worth $1,520,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TTD. Harbor Investment Advisory LLC grew its position in shares of Trade Desk by 68.8% during 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 in the last quarter. Synergy Asset Management LLC purchased a new position in shares of Trade Desk during the fourth quarter valued at about $34,000. Exchange Traded Concepts LLC purchased a new position in shares of Trade Desk during the fourth quarter valued at about $35,000. Avior Wealth Management LLC grew its position in shares of Trade Desk by 37.7% during the third quarter. Avior Wealth Management LLC now owns 365 shares of the technology company's stock valued at $40,000 after purchasing an additional 100 shares in the last quarter. Finally, Brown Lisle Cummings Inc. grew its position in shares of Trade Desk by 66.7% during the third quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company's stock valued at $41,000 after purchasing an additional 150 shares in the last quarter. 67.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. DA Davidson lowered their price target on shares of Trade Desk from $134.00 to $103.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Truist Financial lowered their price target on shares of Trade Desk from $155.00 to $130.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Wells Fargo & Company lowered their price target on shares of Trade Desk from $142.00 to $101.00 and set an "overweight" rating for the company in a report on Friday, February 14th. Needham & Company LLC reaffirmed a "buy" rating and issued a $145.00 price target on shares of Trade Desk in a report on Thursday, February 13th. Finally, Susquehanna lowered their price target on shares of Trade Desk from $150.00 to $135.00 and set a "positive" rating for the company in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $119.45.

Insider Transactions at Trade Desk

In related news, insider Jay R. Grant sold 18,524 shares of the business's 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 directly owns 169,464 shares in the company, valued at $20,225,528.40. The trade was a 9.85 % decrease in their ownership of the stock. The transaction 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 business's stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the transaction, the chief executive officer now owns 704,229 shares of the company's stock, valued at $88,338,485.76. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,029 shares of company stock worth $5,004,296. Company insiders own 9.72% of the company's stock.

Trade Desk Price Performance

NASDAQ TTD traded down $1.02 on Thursday, hitting $75.73. The stock had a trading volume of 13,551,253 shares, compared to its average volume of 7,076,068. The business's fifty day moving average price is $116.48 and its 200 day moving average price is $114.96. The Trade Desk, Inc. has a 52-week low of $74.10 and a 52-week high of $141.53. The stock has a market cap of $37.38 billion, a price-to-earnings ratio of 97.09, a price-to-earnings-growth ratio of 3.28 and a beta of 1.45.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its quarterly earnings data 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, sell-side analysts anticipate 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 share repurchase program on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to buy up to 0.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

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.