Laird Norton Wetherby Wealth Management LLC Sells 182 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Laird Norton Wetherby Wealth Management LLC lowered its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,551 shares of the technology company’s stock after selling 182 shares during the period. Laird Norton Wetherby Wealth Management LLC’s holdings in Trade Desk were worth $417,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Lyell Wealth Management LP lifted its holdings in shares of Trade Desk by 24.3% during the 4th quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock valued at $11,558,000 after purchasing an additional 19,204 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Trade Desk by 276.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company’s stock valued at $8,255,000 after acquiring an additional 51,603 shares during the period. Yousif Capital Management LLC grew its position in shares of Trade Desk by 5.4% during the 4th quarter. Yousif Capital Management LLC now owns 5,856 shares of the technology company’s stock valued at $688,000 after acquiring an additional 300 shares during the period. Allworth Financial LP boosted its holdings in Trade Desk by 46.3% in the 4th quarter. Allworth Financial LP now owns 5,470 shares of the technology company’s stock worth $660,000 after buying an additional 1,732 shares during the last quarter. Finally, Cherry Creek Investment Advisors Inc. boosted its holdings in Trade Desk by 10.3% in the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 52,144 shares of the technology company’s stock worth $6,128,000 after buying an additional 4,878 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Insider Activity at Trade Desk

In related news, Director David B. Wells sold 28,638 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total value of $2,287,603.44. Following the completion of the sale, the director now owns 66,985 shares in the company, valued at $5,350,761.80. This trade represents a 29.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey Terry Green sold 26,684 shares of Trade Desk stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the sale, the chief executive officer now owns 17,018 shares of the company’s stock, valued at approximately $1,361,950.54. The trade was a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.74% of the stock is owned by insiders.

Trade Desk Stock Down 2.1%

NASDAQ TTD opened at $77.50 on Friday. The Trade Desk, Inc. has a 52-week low of $42.96 and a 52-week high of $141.53. The business’s 50-day moving average price is $55.77 and its 200 day moving average price is $94.21. The firm has a market cap of $38.45 billion, a P/E ratio of 99.36, a P/E/G ratio of 3.11 and a beta of 1.29.

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 analysts’ consensus estimates of $0.26 by $0.07. The firm had revenue of $616.02 million during the quarter, compared to the consensus estimate of $575.62 million. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The firm’s revenue was up 25.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.26 earnings per share. As a group, analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its board has initiated a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes 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 shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TTD shares. Rosenblatt Securities started coverage on Trade Desk in a report on Tuesday, April 29th. They set a “buy” rating and a $77.00 target price on the stock. DA Davidson decreased their price objective on Trade Desk from $103.00 to $92.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Benchmark raised Trade Desk from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. KeyCorp upped their price objective on Trade Desk from $67.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Finally, Guggenheim cut their price objective on Trade Desk from $110.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Seven research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.