IMG Wealth Management Inc. Invests $97,000 in The Trade Desk, Inc. (NASDAQ:TTD)

IMG Wealth Management Inc. purchased 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 and Exchange Commission (SEC). The institutional investor purchased 825 shares of the technology company’s stock, valued at approximately $97,000.

Other institutional investors also recently modified their holdings of the company. GWN Securities Inc. acquired a new stake in Trade Desk in the fourth quarter valued at $469,000. Glenview Trust co increased its holdings in Trade Desk by 13.4% in the fourth quarter. Glenview Trust co now owns 2,575 shares of the technology company’s stock valued at $303,000 after purchasing an additional 305 shares during the period. Centurion Wealth Management LLC increased its holdings in Trade Desk by 2.6% in the fourth quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company’s stock valued at $443,000 after purchasing an additional 96 shares during the period. one8zero8 LLC acquired a new stake in Trade Desk in the fourth quarter valued at $494,000. Finally, Frank Rimerman Advisors LLC increased its holdings in Trade Desk by 12.1% in the fourth quarter. Frank Rimerman Advisors LLC now owns 2,212 shares of the technology company’s stock valued at $260,000 after purchasing an additional 239 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TTD shares. Citigroup decreased their price objective on Trade Desk from $140.00 to $108.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Macquarie upped their price target on shares of Trade Desk from $133.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price target on shares of Trade Desk in a research report on Thursday. KeyCorp upped their price target on shares of Trade Desk from $140.00 to $142.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, Morgan Stanley cut their price target on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $119.45.

Insider Transactions at Trade Desk

In other news, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 169,464 shares in the company, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the sale, the chief executive officer now owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,029 shares of company stock worth $5,004,296 in the last quarter. Insiders own 9.72% of the company’s stock.

Trade Desk Stock Performance

NASDAQ:TTD opened at $53.94 on Monday. The firm has a market cap of $26.76 billion, a price-to-earnings ratio of 69.15, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 52 week low of $53.42 and a 52 week high of $141.53. The firm has a 50-day moving average price of $97.79 and a two-hundred day moving average price of $111.58.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data 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%. As a group, sell-side analysts forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

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

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.