First Citizens Bank & Trust Co. Buys Shares of 3,056 The Trade Desk, Inc. (NASDAQ:TTD)

First Citizens Bank & Trust Co. purchased a new stake in The Trade Desk, Inc. (NASDAQ:TTD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,056 shares of the technology company’s stock, valued at approximately $359,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Harbor Investment Advisory LLC raised its holdings in Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after buying an additional 117 shares during the period. Exchange Traded Concepts LLC acquired a new stake in shares of Trade Desk during the fourth quarter worth $35,000. Avior Wealth Management LLC lifted its position in Trade Desk by 37.7% in the 3rd quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock valued at $40,000 after acquiring an additional 100 shares in the last quarter. Quarry LP acquired a new position in Trade Desk in the 2nd quarter worth $41,000. Finally, Brown Lisle Cummings Inc. raised its stake in shares of Trade Desk by 66.7% in the 3rd quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company’s stock valued at $41,000 after purchasing an additional 150 shares during the period. 67.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on TTD. Benchmark restated a “sell” rating and issued a $57.00 target price on shares of Trade Desk in a research note on Friday, November 8th. StockNews.com lowered Trade Desk from a “buy” rating to a “hold” rating in a report on Saturday, November 30th. Wedbush raised their price target on Trade Desk from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Oppenheimer upped their price objective on Trade Desk from $120.00 to $135.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Truist Financial raised their target price on shares of Trade Desk from $135.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $133.13.

Trade Desk Trading Down 0.7 %

Shares of NASDAQ:TTD opened at $119.10 on Tuesday. The stock has a market capitalization of $58.78 billion, a PE ratio of 195.25, a PEG ratio of 3.82 and a beta of 1.45. The firm has a 50 day moving average of $125.87 and a 200-day moving average of $113.80. The Trade Desk, Inc. has a 12 month low of $66.56 and a 12 month high of $141.53.

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

Insider Transactions at Trade Desk

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of the firm’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 transaction of $2,283,886.08. Following the completion of the transaction, the chief executive officer now owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 549,684 shares of company stock valued at $68,444,576. 9.72% of the stock is currently owned by 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.