Wesbanco Bank Inc. Makes New $415,000 Investment in The Trade Desk, Inc. (NASDAQ:TTD)

Wesbanco Bank Inc. acquired a new position in The Trade Desk, Inc. (NASDAQ:TTD) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,530 shares of the technology company’s stock, valued at approximately $415,000.

Other hedge funds have also recently added to or reduced their stakes in the company. AE Wealth Management LLC boosted its holdings in shares of Trade Desk by 3.9% during the second quarter. AE Wealth Management LLC now owns 4,176 shares of the technology company’s stock valued at $408,000 after acquiring an additional 155 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Trade Desk by 19.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,090 shares of the technology company’s stock valued at $98,000 after acquiring an additional 176 shares during the period. APG Asset Management N.V. boosted its holdings in shares of Trade Desk by 197.1% during the second quarter. APG Asset Management N.V. now owns 55,472 shares of the technology company’s stock valued at $5,055,000 after acquiring an additional 36,800 shares during the period. Daymark Wealth Partners LLC acquired a new position in shares of Trade Desk during the second quarter valued at $213,000. Finally, MBB Public Markets I LLC acquired a new position in shares of Trade Desk during the second quarter valued at $3,116,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Wall Street Analyst Weigh In

TTD has been the subject of several analyst reports. Scotiabank initiated coverage on shares of Trade Desk in a report on Thursday, December 5th. They set a “sector perform” rating and a $133.00 price target for the company. Royal Bank of Canada upped their price objective on shares of Trade Desk from $136.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Truist Financial upped their price objective on shares of Trade Desk from $135.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Citigroup upped their price objective on shares of Trade Desk from $115.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company upped their price objective on shares of Trade Desk from $141.00 to $142.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $133.13.

Trade Desk Price Performance

Shares of TTD opened at $119.96 on Friday. The company has a market capitalization of $59.21 billion, a price-to-earnings ratio of 196.66, a P/E/G ratio of 3.82 and a beta of 1.45. The Trade Desk, Inc. has a fifty-two week low of $66.56 and a fifty-two week high of $141.53. The business’s 50-day moving average is $125.84 and its 200-day moving average is $113.48.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, November 7th. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.21). The business had revenue of $628.02 million during the quarter, compared to analyst estimates of $619.89 million. Trade Desk had a net margin of 13.34% and a return on equity of 13.17%. During the same quarter in the prior year, the company earned $0.08 EPS. Equities research analysts expect that The Trade Desk, Inc. will post 0.87 earnings per share for the current fiscal year.

Insider Activity at Trade Desk

In related news, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the completion of the sale, the insider now owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the completion of the sale, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 549,684 shares of company stock valued at $68,444,576. 9.72% of the stock is owned by corporate insiders.

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.