Sandy Spring Bank Raises Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Sandy Spring Bank increased its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 18.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,364 shares of the technology company’s stock after purchasing an additional 4,332 shares during the quarter. Sandy Spring Bank’s holdings in Trade Desk were worth $3,216,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TTD. Empowered Funds LLC raised its holdings in Trade Desk by 6.9% during the third quarter. Empowered Funds LLC now owns 14,738 shares of the technology company’s stock worth $1,616,000 after purchasing an additional 953 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Trade Desk during the 3rd quarter worth $85,000. Pathstone Holdings LLC boosted its position in shares of Trade Desk by 14.1% in the 3rd quarter. Pathstone Holdings LLC now owns 18,284 shares of the technology company’s stock worth $2,005,000 after buying an additional 2,263 shares in the last quarter. Caprock Group LLC grew its stake in Trade Desk by 1.0% in the 3rd quarter. Caprock Group LLC now owns 12,883 shares of the technology company’s stock valued at $1,413,000 after acquiring an additional 132 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Trade Desk during the 3rd quarter valued at about $1,508,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Insiders Place Their Bets

In related news, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the transaction, the insider now owns 169,464 shares in the company, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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 shares were sold at an average price of $118.56, for a total value 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 trade represents a 4.52 % 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 90 days. 9.72% of the stock is owned by company insiders.

Trade Desk Trading Up 1.0 %

Shares of TTD stock opened at $55.85 on Friday. The company’s fifty day simple moving average is $92.39 and its 200-day simple moving average is $110.12. The Trade Desk, Inc. has a 52 week low of $53.39 and a 52 week high of $141.53. The company has a market cap of $27.71 billion, a PE ratio of 71.60, a P/E/G ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last released 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%. Equities research analysts expect that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal 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.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Cantor Fitzgerald lowered their price target on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Robert W. Baird lowered their target price on Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. JMP Securities cut their price target on Trade Desk from $150.00 to $115.00 and set a “market outperform” rating for the company in a report on Thursday, February 13th. BMO Capital Markets reduced their price objective on Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Finally, Evercore ISI cut Trade Desk from an “outperform” rating to an “inline” rating and dropped their price objective for the stock from $135.00 to $90.00 in a research report on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $116.41.

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.