The Trade Desk, Inc. (NASDAQ:TTD) is Stony Point Capital LLC’s 4th Largest Position

Stony Point Capital LLC increased its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 35.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 180,306 shares of the technology company’s stock after buying an additional 47,206 shares during the period. Trade Desk comprises about 4.4% of Stony Point Capital LLC’s holdings, making the stock its 4th largest position. Stony Point Capital LLC’s holdings in Trade Desk were worth $21,191,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Rialto Wealth Management LLC acquired a new position in shares of Trade Desk in the fourth quarter worth $26,000. Harbor Investment Advisory LLC increased its position 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 purchasing an additional 117 shares in the last quarter. Midwest Capital Advisors LLC acquired a new position in Trade Desk in the 4th quarter valued at about $34,000. Zions Bancorporation N.A. lifted its holdings in Trade Desk by 148.3% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after purchasing an additional 175 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Trade Desk during the 4th quarter worth about $35,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director David B. Wells sold 28,638 shares of Trade Desk stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the sale, the director now directly owns 66,985 shares of the company’s stock, valued at approximately $5,350,761.80. The trade was a 29.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey Terry Green sold 26,684 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $80.03, for a total value of $2,135,520.52. Following the completion of the transaction, the chief executive officer now owns 17,018 shares in the company, valued at approximately $1,361,950.54. This trade represents a 61.06% decrease in their position. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

Trade Desk Price Performance

NASDAQ:TTD opened at $76.31 on Friday. The business’s 50-day moving average is $56.12 and its two-hundred day moving average is $93.70. The firm has a market capitalization of $37.86 billion, a PE ratio of 97.83, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29. The Trade Desk, Inc. has a 12 month low of $42.96 and a 12 month high of $141.53.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.26 by $0.07. The business had revenue of $616.02 million for the quarter, compared to the consensus estimate of $575.62 million. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The company’s revenue was up 25.4% on a year-over-year basis. During the same period last year, the business posted $0.26 EPS. Equities analysts anticipate 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 buyback $564.00 million in shares. This buyback authorization allows the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TTD shares. Rosenblatt Securities initiated coverage on shares of Trade Desk in a research report on Tuesday, April 29th. They issued a “buy” rating and a $77.00 price objective for the company. Evercore ISI downgraded Trade Desk from an “outperform” rating to an “inline” rating and cut their price target for the company from $135.00 to $90.00 in a report on Thursday, February 13th. Cfra Research upgraded Trade Desk to a “moderate buy” rating in a report on Tuesday, March 25th. Truist Financial lifted their price objective on Trade Desk from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Finally, Benchmark upgraded Trade Desk from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $98.88.

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.