Cherry Creek Investment Advisors Inc. Buys 4,878 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Cherry Creek Investment Advisors Inc. grew its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 10.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,144 shares of the technology company's stock after buying an additional 4,878 shares during the quarter. Trade Desk accounts for 3.0% of Cherry Creek Investment Advisors Inc.'s portfolio, making the stock its 9th largest position. Cherry Creek Investment Advisors Inc.'s holdings in Trade Desk were worth $6,128,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Harbor Investment Advisory LLC boosted its stake 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 purchasing an additional 117 shares during the period. Exchange Traded Concepts LLC acquired a new stake in Trade Desk in the fourth quarter valued at $35,000. Avior Wealth Management LLC raised its holdings in Trade Desk by 37.7% in the third quarter. Avior Wealth Management LLC now owns 365 shares of the technology company's stock valued at $40,000 after acquiring an additional 100 shares in the last quarter. Quarry LP acquired a new stake in Trade Desk in the second quarter valued at $41,000. Finally, Brown Lisle Cummings Inc. raised its holdings in Trade Desk by 66.7% in the third quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company's stock valued at $41,000 after acquiring an additional 150 shares in the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TTD. New Street Research raised shares of Trade Desk from a "sell" rating to a "neutral" rating and upped their price target for the company from $85.00 to $115.00 in a report on Monday, November 25th. KeyCorp upped their price target on shares of Trade Desk from $130.00 to $140.00 and gave the company an "overweight" rating in a report on Friday, January 10th. Citigroup upped their price target on shares of Trade Desk from $115.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. UBS Group increased their target price on shares of Trade Desk from $140.00 to $150.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Finally, BMO Capital Markets increased their target price on shares of Trade Desk from $125.00 to $160.00 and gave the stock an "outperform" rating in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $133.13.

Trade Desk Stock Performance

Shares of NASDAQ:TTD traded up $1.46 during trading hours on Tuesday, hitting $120.56. 4,595,535 shares of the company's stock traded hands, compared to its average volume of 3,485,043. The Trade Desk, Inc. has a 52 week low of $66.56 and a 52 week high of $141.53. The company's fifty day simple moving average is $125.89 and its two-hundred day simple moving average is $113.95. The company has a market cap of $59.50 billion, a price-to-earnings ratio of 197.64, a price-to-earnings-growth ratio of 3.82 and a beta of 1.45.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.21). Trade Desk had a net margin of 13.34% and a return on equity of 13.17%. The business had revenue of $628.02 million for the quarter, compared to the consensus estimate of $619.89 million. During the same quarter last year, the business posted $0.08 EPS. On average, analysts anticipate that The Trade Desk, Inc. will post 0.87 EPS for the current fiscal year.

Insider Activity

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the 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 sale, the chief executive officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jay R. Grant sold 18,524 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was 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 directly owns 169,464 shares of the company's stock, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 549,684 shares of company stock worth $68,444,576. Corporate insiders own 9.72% of the company's stock.

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.