Castle Rock Wealth Management LLC Has $1.75 Million Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Castle Rock Wealth Management LLC cut its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 9.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,879 shares of the technology company’s stock after selling 1,491 shares during the quarter. Castle Rock Wealth Management LLC’s holdings in Trade Desk were worth $1,749,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Mutual Advisors LLC grew its stake in shares of Trade Desk by 4.4% in the 4th quarter. Mutual Advisors LLC now owns 4,632 shares of the technology company’s stock valued at $560,000 after buying an additional 194 shares during the period. Avior Wealth Management LLC boosted its holdings in Trade Desk by 428.2% in the fourth quarter. Avior Wealth Management LLC now owns 1,928 shares of the technology company’s stock worth $227,000 after acquiring an additional 1,563 shares in the last quarter. Brighton Jones LLC grew its stake in Trade Desk by 3.8% in the fourth quarter. Brighton Jones LLC now owns 4,586 shares of the technology company’s stock valued at $539,000 after acquiring an additional 169 shares during the period. Exchange Traded Concepts LLC bought a new stake in shares of Trade Desk during the fourth quarter valued at approximately $35,000. Finally, Fifth Third Bancorp raised its position in shares of Trade Desk by 86.6% during the fourth quarter. Fifth Third Bancorp now owns 31,534 shares of the technology company’s stock worth $3,706,000 after purchasing an additional 14,635 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Insider Buying and Selling at Trade Desk

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

Trade Desk Stock Performance

TTD stock opened at $73.89 on Tuesday. The stock has a fifty day moving average of $58.45 and a 200-day moving average of $91.49. The Trade Desk, Inc. has a fifty-two week low of $42.96 and a fifty-two week high of $141.53. The company has a market capitalization of $36.66 billion, a price-to-earnings ratio of 94.73, a PEG ratio of 3.11 and a beta of 1.29.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. The firm had revenue of $616.02 million during the quarter, compared to analyst estimates of $575.62 million. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The company’s quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter last year, the business earned $0.26 earnings per share. Equities analysts predict that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

TTD has been the subject of several research reports. Truist Financial lifted their price target on shares of Trade Desk from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Evercore ISI downgraded shares of Trade Desk from an “outperform” rating to an “inline” rating and decreased their target price for the stock from $135.00 to $90.00 in a research report on Thursday, February 13th. Royal Bank of Canada lowered their target price on shares of Trade Desk from $100.00 to $85.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Scotiabank cut their price target on Trade Desk from $133.00 to $83.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. Finally, Stifel Nicolaus decreased their price objective on Trade Desk from $122.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Seven analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $97.12.

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.