LRI Investments LLC Sells 805 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

LRI Investments LLC decreased its position in The Trade Desk, Inc. (NASDAQ:TTD) by 27.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,128 shares of the technology company’s stock after selling 805 shares during the quarter. LRI Investments LLC’s holdings in Trade Desk were worth $250,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Rialto Wealth Management LLC bought a new position in Trade Desk during the fourth quarter valued at about $26,000. Harbor Investment Advisory LLC grew its position in Trade Desk by 68.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after buying an additional 117 shares during the period. Midwest Capital Advisors LLC bought a new position in Trade Desk during the fourth quarter valued at about $34,000. Zions Bancorporation N.A. grew its position in Trade Desk by 148.3% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after buying an additional 175 shares during the period. Finally, Exchange Traded Concepts LLC bought a new position in Trade Desk during the fourth quarter valued at about $35,000. Institutional investors own 67.77% of the company’s stock.

Trade Desk Trading Up 11.8%

Shares of Trade Desk stock opened at $79.40 on Tuesday. The firm has a market capitalization of $39.39 billion, a P/E ratio of 101.79, a P/E/G ratio of 3.11 and a beta of 1.29. The business has a fifty day simple moving average of $54.88 and a two-hundred day simple moving average of $94.71. 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 quarterly earnings data 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 during the quarter, compared to analyst estimates 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 for the quarter was up 25.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 earnings per share. 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 approved a stock repurchase plan on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TTD. Royal Bank of Canada reduced their price target on shares of Trade Desk from $100.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Piper Sandler upped their price objective on shares of Trade Desk from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Friday. Susquehanna dropped their price objective on shares of Trade Desk from $150.00 to $135.00 and set a “positive” rating on the stock in a report on Thursday, February 13th. KeyCorp upped their price objective on shares of Trade Desk from $67.00 to $80.00 and gave the company an “overweight” rating in a report on Friday. Finally, Wedbush reaffirmed an “outperform” rating and set a $86.00 price objective (up from $80.00) on shares of Trade Desk in a report on Friday. Seven equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat, Trade Desk presently has an average rating of “Moderate Buy” and an average price target of $98.88.

Trade Desk Company 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.