Congress Wealth Management LLC DE Sells 38,950 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Congress Wealth Management LLC DE reduced its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 17.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 186,650 shares of the technology company's stock after selling 38,950 shares during the quarter. Congress Wealth Management LLC DE's holdings in Trade Desk were worth $21,937,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Rialto Wealth Management LLC acquired a new stake in shares of Trade Desk during the 4th quarter worth approximately $26,000. Harbor Investment Advisory LLC increased its holdings 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 worth $34,000 after acquiring an additional 117 shares in the last quarter. Synergy Asset Management LLC bought a new position in Trade Desk in the fourth quarter valued at approximately $34,000. Midwest Capital Advisors LLC acquired a new stake in shares of Trade Desk in the 4th quarter valued at about $34,000. Finally, Exchange Traded Concepts LLC acquired a new stake in Trade Desk in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 67.77% of the company's stock.

Insider Buying and Selling at Trade Desk

In related news, insider Samantha Jacobson sold 4,298 shares of the firm'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 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction, the insider now owns 169,464 shares in the company, valued at $20,225,528.40. The trade was a 9.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock worth $5,004,296 over the last quarter. Corporate insiders own 9.72% of the company's stock.

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Analyst Ratings Changes

TTD has been the topic of a number of analyst reports. JMP Securities dropped their price objective on Trade Desk from $150.00 to $115.00 and set a "market outperform" rating on the stock in a research note on Thursday, February 13th. Evercore ISI lowered shares of 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 note on Thursday, February 13th. BMO Capital Markets cut their target price on shares of Trade Desk from $160.00 to $115.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Needham & Company LLC reissued a "buy" rating and set a $145.00 price target on shares of Trade Desk in a research report on Thursday, March 13th. Finally, Loop Capital cut their price objective on Trade Desk from $145.00 to $101.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $116.41.

Trade Desk Stock Performance

Shares of Trade Desk stock traded down $1.41 during trading on Friday, reaching $55.85. 6,423,398 shares of the company's stock were exchanged, compared to its average volume of 4,776,838. The Trade Desk, Inc. has a 1-year low of $53.39 and a 1-year high of $141.53. The company has a market cap of $27.71 billion, a P/E ratio of 71.60, a PEG ratio of 3.11 and a beta of 1.63. The firm's 50-day moving average price is $85.01 and its 200 day moving average price is $108.31.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its 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, equities research analysts predict that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors 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.