Wedbush Securities Inc. Decreases Holdings in The Trade Desk $TTD

Wedbush Securities Inc. lowered its stake in The Trade Desk (NASDAQ:TTD) by 70.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,872 shares of the technology company’s stock after selling 20,753 shares during the period. Wedbush Securities Inc.’s holdings in Trade Desk were worth $435,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Family Legacy Financial Solutions LLC lifted its stake in shares of Trade Desk by 163.2% in the 3rd quarter. Family Legacy Financial Solutions LLC now owns 500 shares of the technology company’s stock valued at $25,000 after purchasing an additional 310 shares during the last quarter. Versant Capital Management Inc lifted its position in Trade Desk by 175.8% in the third quarter. Versant Capital Management Inc now owns 524 shares of the technology company’s stock worth $26,000 after buying an additional 334 shares during the last quarter. Root Financial Partners LLC purchased a new position in Trade Desk during the third quarter worth $26,000. Twin Peaks Wealth Advisors LLC bought a new position in Trade Desk during the second quarter valued at $28,000. Finally, Transce3nd LLC purchased a new stake in shares of Trade Desk in the second quarter valued at $28,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Trade Desk Stock Down 1.3%

NASDAQ TTD opened at $25.81 on Monday. The Trade Desk has a 52 week low of $25.64 and a 52 week high of $91.45. The company has a 50 day moving average price of $34.82 and a 200 day moving average price of $45.20. The firm has a market cap of $12.48 billion, a PE ratio of 29.67, a price-to-earnings-growth ratio of 1.01 and a beta of 1.10.

Trade Desk declared that its board has initiated a share repurchase plan on Thursday, November 6th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to repurchase up to 2.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts recently commented on TTD shares. Cantor Fitzgerald set a $43.00 price target on shares of Trade Desk and gave the stock a “neutral” rating in a research note on Thursday, January 8th. KeyCorp reaffirmed an “overweight” rating and issued a $40.00 price objective (down previously from $88.00) on shares of Trade Desk in a research report on Tuesday, February 3rd. Bank of America lowered their target price on shares of Trade Desk from $49.00 to $40.00 and set an “underperform” rating for the company in a research note on Tuesday, January 20th. Needham & Company LLC decreased their price objective on shares of Trade Desk from $84.00 to $60.00 and set a “buy” rating for the company in a report on Friday, November 7th. Finally, Susquehanna lowered their price target on Trade Desk from $135.00 to $85.00 and set a “positive” rating for the company in a report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $61.45.

About Trade Desk

The Trade Desk, Inc (NASDAQ: TTD) is a technology company that provides a demand-side platform (DSP) for programmatic digital advertising. Its platform enables advertisers, agencies and other buyers to plan, purchase and measure ad inventory across digital channels, including display, video, mobile, audio, native and connected TV. By centralizing real?time bidding, audience targeting and inventory access, the company aims to help clients optimize media spend and reach audiences at scale across publishers and ad exchanges.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk grew from a focus on programmatic display into a global ad?tech provider.