Alliancebernstein L.P. Purchases 3,788 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Alliancebernstein L.P. increased its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 1.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 344,924 shares of the technology company’s stock after acquiring an additional 3,788 shares during the period. Alliancebernstein L.P. owned approximately 0.07% of Trade Desk worth $40,539,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Focus Financial Network Inc. raised its stake in Trade Desk by 2.2% in the fourth quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock valued at $456,000 after purchasing an additional 84 shares in the last quarter. RMR Wealth Builders increased its holdings in shares of Trade Desk by 0.8% in the 4th quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock worth $1,247,000 after buying an additional 89 shares during the last quarter. Quotient Wealth Partners LLC raised its position in shares of Trade Desk by 4.2% during the 4th quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock valued at $276,000 after buying an additional 94 shares in the last quarter. TFB Advisors LLC lifted its holdings in shares of Trade Desk by 2.6% during the 4th quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock worth $442,000 after acquiring an additional 94 shares during the last quarter. Finally, Centurion Wealth Management LLC grew its position 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 worth $443,000 after acquiring an additional 96 shares in the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TTD shares. Morgan Stanley dropped their price target on Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Needham & Company LLC restated a “buy” rating and issued a $145.00 target price on shares of Trade Desk in a research report on Thursday, March 13th. Susquehanna cut their target price on Trade Desk from $150.00 to $135.00 and set a “positive” rating for the company in a research note on Thursday, February 13th. Jefferies Financial Group decreased their price target on shares of Trade Desk from $120.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Scotiabank lowered their price objective on shares of Trade Desk from $133.00 to $83.00 and set a “sector perform” rating for the company in a 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $114.38.

Insider Transactions at Trade Desk

In related news, insider Samantha Jacobson sold 4,298 shares of the company’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 value of $509,570.88. Following the sale, the insider now owns 90,709 shares in the company, valued at $10,754,459.04. This represents a 4.52 % decrease in their position. The transaction was disclosed in a filing 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 shares were 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 directly owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.72% of the company’s stock.

Trade Desk Stock Performance

Trade Desk stock opened at $46.24 on Friday. The Trade Desk, Inc. has a fifty-two week low of $45.02 and a fifty-two week high of $141.53. The stock has a market cap of $22.94 billion, a price-to-earnings ratio of 59.28, a PEG ratio of 3.11 and a beta of 1.56. The stock’s 50 day simple moving average is $78.11 and its two-hundred day simple moving average is $106.55.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share 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%. On average, analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk declared that its board has initiated a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is 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.