Wealthfront Advisers LLC Lowers Stake in The Trade Desk $TTD

Wealthfront Advisers LLC cut its position in shares of The Trade Desk (NASDAQ:TTD) by 49.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 33,541 shares of the technology company’s stock after selling 32,409 shares during the period. Wealthfront Advisers LLC’s holdings in Trade Desk were worth $1,644,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Transce3nd LLC acquired a new stake in Trade Desk during the 2nd quarter worth approximately $28,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Trade Desk during the second quarter worth approximately $28,000. Estabrook Capital Management acquired a new stake in shares of Trade Desk in the second quarter worth $36,000. Family Legacy Financial Solutions LLC increased its position in shares of Trade Desk by 163.2% in the third quarter. Family Legacy Financial Solutions LLC now owns 500 shares of the technology company’s stock worth $25,000 after acquiring an additional 310 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Trade Desk by 175.8% in the 3rd quarter. Versant Capital Management Inc now owns 524 shares of the technology company’s stock valued at $26,000 after acquiring an additional 334 shares during the period. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Stock Performance

NASDAQ:TTD opened at $25.81 on Friday. The stock has a market cap of $12.48 billion, a price-to-earnings ratio of 29.67, a price-to-earnings-growth ratio of 1.01 and a beta of 1.10. The Trade Desk has a one year low of $25.64 and a one year high of $91.45. The business’s 50-day simple moving average is $34.82 and its 200 day simple moving average is $45.49.

Trade Desk announced that its board has authorized a share repurchase program on Thursday, November 6th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to buy up to 2.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

TTD has been the subject of a number of research reports. Morgan Stanley decreased their price target on shares of Trade Desk from $50.00 to $42.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 13th. Cannonball Research upgraded Trade Desk to a “strong-buy” rating in a research note on Monday, January 12th. Evercore decreased their target price on Trade Desk from $80.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, November 7th. Guggenheim reiterated a “buy” rating and set a $50.00 target price (down from $55.00) on shares of Trade Desk in a report on Monday, January 5th. Finally, Truist Financial set a $60.00 price target on Trade Desk and gave the stock a “buy” rating in a research report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, fifteen have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Trade Desk currently has a consensus rating of “Hold” and a consensus target price of $61.45.

Trade Desk Company Profile

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.