Ashton Thomas Private Wealth LLC Increases Stake in The Trade Desk, Inc.

Ashton Thomas Private Wealth LLC has significantly increased its investment in The Trade Desk, Inc. (NASDAQ:TTD - Free Report), raising its stake by 112.0% during the fourth quarter. According to their recent Form 13F submission to the Securities & Exchange Commission, the firm now owns 14,816 shares of the technology company's stock after acquiring an additional 7,828 shares during this period. The holdings of Ashton Thomas in Trade Desk are valued at approximately $1,741,000 based on the latest reporting.

Investment Activities of Other Institutions

Many other institutional investors and hedge funds have also been active in buying and selling shares of The Trade Desk. For instance, Harbor Investment Advisory LLC raised its holdings in Trade Desk by 68.8% in the last quarter, now owning 287 shares valued at around $34,000 after purchasing 117 more shares. Similarly, Synergy Asset Management LLC, Midwest Capital Advisors LLC, and Exchange Traded Concepts LLC each acquired new stakes in the company, valued between $34,000 to $39,000. Currently, institutional investors and hedge funds hold about 67.77% of the company's stock.

Current Performance of Trade Desk Stock

The Trade Desk stock began trading at $64.91 on Friday and has experienced a range in the last year, with the lowest point at $63.82 and the highest at $141.53. The stock's 50-day moving average is around $103.94, while its 200-day moving average stands at $113.14. The company currently boasts a market capitalization of $32.20 billion with a P/E ratio of 83.22 and a P/E/G ratio of 3.11.

Earnings Report and Share Repurchase Program

On February 12th, The Trade Desk announced its quarterly earnings, reporting $0.36 EPS, which fell short of the consensus estimate of $0.57. The company has registered a return on equity of 16.38% and a net margin of 16.08%. Analysts predict that the company will post an EPS of 1.06 for the current fiscal year. In conjunction with the earnings report, Trade Desk's board approved a share repurchase program allowing the company to buy back $564.00 million in outstanding shares, indicating a belief among management that the stock price is undervalued.

Analysts Remain Positive on Trade Desk

Recent analyst reports have provided an optimistic outlook for Trade Desk. Wolfe Research raised its price target from $140.00 to $155.00 while giving the stock an "outperform" rating. Other analysts like UBS have increased their price target from $116.00 to $148.00, classifying the stock as a "buy." Many analysts have given Trade Desk a "hold" rating, while a majority suggest a "buy" rating, with an average consensus target price of $119.45, according to data from MarketBeat.com.

Insider Trading Activity

In related developments, CEO Jeffrey Terry Green sold 18,207 shares on January 7th, receiving approximately $2,283,886.08 at an average sale price of $125.44. Following this transaction, he holds around 704,229 shares valued at about $88,338,485.76. Additionally, insider Jay R. Grant sold 18,524 shares on December 30th for a total of $2,210,839.40 at an average price of $119.35. Collectively, insiders have sold 41,029 shares in the last 90 days, accounting for approximately 9.72% of the stock currently owned by insiders.

About The Trade Desk, Inc.

The Trade Desk, Inc. is a leading technology company that operates both in the United States and globally. It provides a self-service, cloud-based platform that empowers buyers to plan, manage, optimize, and measure their data-driven digital advertising campaigns. These campaigns can span various ad formats and channels including video, display, audio, digital-out-of-home, native, and social media across multiple devices such as computers, mobile phones, televisions, and streaming platforms.

Conclusion

As institutions like Ashton Thomas Private Wealth LLC boost their stakes in The Trade Desk, the company continues to attract strong interest from analysts and investors alike. With favorable analytical reports and proactive measures such as share repurchase programs, The Trade Desk aims for sustained growth in a competitive digital advertising landscape.

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