The Trade Desk, Inc. (NASDAQ:TTD) Shares Sold by Malaga Cove Capital LLC

Malaga Cove Capital LLC lessened its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,844 shares of the technology company’s stock after selling 397 shares during the quarter. Malaga Cove Capital LLC’s holdings in Trade Desk were worth $1,980,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Rialto Wealth Management LLC bought a new position in Trade Desk during the 4th quarter worth approximately $26,000. Harbor Investment Advisory LLC lifted its holdings in Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after buying an additional 117 shares during the last quarter. Synergy Asset Management LLC bought a new position in Trade Desk during the 4th quarter worth approximately $34,000. Midwest Capital Advisors LLC bought a new position in Trade Desk during the 4th quarter worth approximately $34,000. Finally, Zions Bancorporation N.A. lifted its holdings in shares of Trade Desk by 148.3% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock worth $34,000 after purchasing an additional 175 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Stock Performance

Shares of TTD stock opened at $78.14 on Wednesday. The Trade Desk, Inc. has a 1 year low of $42.96 and a 1 year high of $141.53. The stock has a market cap of $38.76 billion, a PE ratio of 100.18, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29. The business’s fifty day moving average is $55.14 and its 200-day moving average is $94.60.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. The business had revenue of $616.02 million for the quarter, compared to analysts’ expectations of $575.62 million. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The company’s quarterly revenue was up 25.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.26 EPS. Equities research analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

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

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wells Fargo & Company cut their price target on Trade Desk from $101.00 to $72.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. Evercore ISI downgraded Trade Desk from an “outperform” rating to an “inline” rating and cut their price target for the stock from $135.00 to $90.00 in a report on Thursday, February 13th. Oppenheimer raised their price target on Trade Desk from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, May 9th. Cfra Research raised Trade Desk to a “moderate buy” rating in a report on Tuesday, March 25th. Finally, Morgan Stanley raised their price target on Trade Desk from $60.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat, Trade Desk currently has a consensus rating of “Moderate Buy” and an average target price of $98.88.

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.