B. Riley Wealth Advisors Inc. Purchases Shares of 15,913 The Trade Desk $TTD

B. Riley Wealth Advisors Inc. bought a new position in shares of The Trade Desk (NASDAQ:TTD) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,913 shares of the technology company’s stock, valued at approximately $1,146,000.

Several other hedge funds also recently made changes to their positions in TTD. Vanguard Group Inc. raised its holdings in shares of Trade Desk by 0.7% during the second quarter. Vanguard Group Inc. now owns 44,554,852 shares of the technology company’s stock valued at $3,207,504,000 after purchasing an additional 317,107 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in Trade Desk by 327.3% in the second quarter. Nomura Asset Management Co. Ltd. now owns 1,121,436 shares of the technology company’s stock valued at $80,732,000 after acquiring an additional 858,978 shares during the period. LaFleur & Godfrey LLC bought a new stake in shares of Trade Desk during the second quarter valued at approximately $5,029,000. Congress Park Capital LLC raised its position in shares of Trade Desk by 13.2% during the second quarter. Congress Park Capital LLC now owns 53,781 shares of the technology company’s stock worth $3,872,000 after purchasing an additional 6,257 shares during the period. Finally, Schroder Investment Management Group lifted its holdings in shares of Trade Desk by 56.8% in the 2nd quarter. Schroder Investment Management Group now owns 895,150 shares of the technology company’s stock worth $64,442,000 after purchasing an additional 324,173 shares in the last quarter. 67.77% of the stock is owned by institutional investors.

Trade Desk Stock Down 1.3%

Shares of NASDAQ TTD opened at $36.19 on Tuesday. The company has a market cap of $17.50 billion, a P/E ratio of 41.60, a P/E/G ratio of 1.82 and a beta of 1.07. The Trade Desk has a 52 week low of $35.65 and a 52 week high of $136.42. The business has a 50-day simple moving average of $45.14 and a two-hundred day simple moving average of $57.83.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Thursday, November 6th. The technology company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. Trade Desk had a net margin of 15.72% and a return on equity of 16.00%. The firm had revenue of $739.43 million during the quarter, compared to analyst estimates of $719.11 million. During the same period in the previous year, the business earned $0.41 EPS. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. Equities research analysts anticipate that The Trade Desk will post 1.06 EPS for the current year.

Trade Desk declared that its board has approved a share buyback plan on Thursday, November 6th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to buy up to 2.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

TTD has been the topic of a number of recent research reports. Citigroup restated an “outperform” rating on shares of Trade Desk in a report on Tuesday, September 30th. Guggenheim set a $55.00 price target on Trade Desk and gave the company a “buy” rating in a research report on Monday, September 29th. Wells Fargo & Company dropped their price objective on Trade Desk from $53.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Friday, November 7th. Morgan Stanley lowered shares of Trade Desk from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $80.00 to $50.00 in a research note on Wednesday, September 10th. Finally, UBS Group reiterated a “buy” rating and issued a $82.00 target price (up previously from $80.00) on shares of Trade Desk in a report on Friday, November 7th. Twenty-one investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $76.56.

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.