OneAscent Financial Services LLC Takes $236,000 Position in The Trade Desk, Inc. (NASDAQ:TTD)

OneAscent Financial Services LLC purchased a new position in The Trade Desk, Inc. (NASDAQ:TTD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,004 shares of the technology company’s stock, valued at approximately $236,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Trade Desk by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company’s stock worth $5,015,035,000 after acquiring an additional 253,137 shares in the last quarter. Norges Bank acquired a new position in Trade Desk in the fourth quarter worth $524,187,000. Bank of New York Mellon Corp increased its stake in Trade Desk by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 2,019,707 shares of the technology company’s stock valued at $237,376,000 after purchasing an additional 5,080 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Trade Desk during the fourth quarter worth $231,570,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Trade Desk by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,875,139 shares of the technology company’s stock valued at $220,385,000 after buying an additional 95,489 shares during the period. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Stock Down 5.8 %

Shares of NASDAQ TTD opened at $46.24 on Friday. The business has a fifty day simple moving average of $78.11 and a 200-day simple moving average of $106.55. The company has a market cap of $22.94 billion, a price-to-earnings ratio of 59.28, a P/E/G ratio of 3.11 and a beta of 1.56. The Trade Desk, Inc. has a 12 month low of $45.02 and a 12 month high of $141.53.

Trade Desk (NASDAQ:TTD) last announced 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, sell-side analysts expect that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to buy up to 0.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction dated 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 represents a 2.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the insider now owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TTD. Cfra Research upgraded shares of Trade Desk to a “moderate buy” rating in a research note on Tuesday, March 25th. Jefferies Financial Group cut their price target on Trade Desk from $120.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday. UBS Group upped their price objective on Trade Desk from $116.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. BMO Capital Markets cut their target price on Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Finally, Royal Bank of Canada lowered their price target on shares of Trade Desk from $120.00 to $100.00 and set an “outperform” rating for the company in a research report on Monday, March 17th. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $114.38.

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.