Bryce Point Capital LLC Makes New $488,000 Investment in The Trade Desk, Inc. (NASDAQ:TTD)

Bryce Point Capital LLC acquired a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 4,152 shares of the technology company’s stock, valued at approximately $488,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rialto Wealth Management LLC purchased a new position in Trade Desk during the 4th quarter worth approximately $26,000. Harbor Investment Advisory LLC lifted its position in 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 during the period. Synergy Asset Management LLC purchased a new stake in Trade Desk in the fourth quarter valued at $34,000. Midwest Capital Advisors LLC acquired a new stake in Trade Desk during the 4th quarter worth about $34,000. Finally, Zions Bancorporation N.A. raised its stake in shares of Trade Desk by 148.3% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after buying an additional 175 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Price Performance

Shares of TTD stock opened at $46.24 on Friday. The firm’s 50-day moving average is $78.11 and its two-hundred day moving average is $106.55. The Trade Desk, Inc. has a 12 month low of $45.02 and a 12 month high of $141.53. The company has a market capitalization of $22.94 billion, a PE ratio of 59.28, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56.

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 net margin of 16.08% and a return on equity of 16.38%. Sell-side analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk declared that its board has approved a stock buyback plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in shares. This repurchase authorization allows the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms recently commented on TTD. Scotiabank dropped their target price on Trade Desk from $133.00 to $83.00 and set a “sector perform” rating on the stock in a report on Thursday, February 13th. UBS Group lifted their target price on shares of Trade Desk from $116.00 to $148.00 and gave the company a “buy” rating in a report on Friday, February 14th. Jefferies Financial Group lowered their price target on shares of Trade Desk from $120.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday. Loop Capital cut their price objective on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Finally, Needham & Company LLC reissued a “buy” rating and set a $145.00 target price on shares of Trade Desk in a research note on Thursday, March 13th. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $114.38.

Insider Transactions at Trade Desk

In related news, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction that occurred on 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 owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total value of $2,283,886.08. Following the transaction, the chief executive officer now owns 704,229 shares in the company, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.72% of the company’s stock.

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.