The Trade Desk, Inc. (NASDAQ:TTD) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 6.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 259,702 shares of the technology company’s stock after selling 18,860 shares during the quarter. New York State Common Retirement Fund’s holdings in Trade Desk were worth $30,523,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TTD. Edgewood Management LLC grew its position in Trade Desk by 133.3% in the 3rd quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock valued at $1,089,280,000 after buying an additional 5,675,571 shares during the last quarter. Jennison Associates LLC grew its position in Trade Desk by 11.0% in the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock valued at $2,228,172,000 after buying an additional 2,013,047 shares during the last quarter. Baillie Gifford & Co. grew its position in Trade Desk by 4.7% in the 3rd quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock valued at $4,245,218,000 after buying an additional 1,720,650 shares during the last quarter. International Assets Investment Management LLC grew its position in Trade Desk by 10,856.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,572,820 shares of the technology company’s stock valued at $172,460,000 after buying an additional 1,558,465 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Trade Desk by 55.3% in the 3rd quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company’s stock valued at $169,892,000 after buying an additional 551,925 shares during the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Price Performance

NASDAQ TTD opened at $75.73 on Friday. The Trade Desk, Inc. has a 12 month low of $74.10 and a 12 month high of $141.53. The company has a 50-day moving average of $116.48 and a 200-day moving average of $114.96. The company has a market cap of $37.38 billion, a P/E ratio of 97.09, a P/E/G ratio of 3.28 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. As a group, equities research analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk announced that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to buy up to 0.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the completion of the sale, the insider now owns 169,464 shares in the company, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the sale, the insider now owns 90,709 shares of the company’s stock, valued at $10,754,459.04. The trade was a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,029 shares of company stock valued at $5,004,296 in the last 90 days. 9.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada lowered their price objective on shares of Trade Desk from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Loop Capital decreased their target price on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating on the stock in a research report on Thursday. KeyCorp boosted their target price on shares of Trade Desk from $140.00 to $142.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Scotiabank decreased their target price on shares of Trade Desk from $133.00 to $83.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 13th. Finally, Cantor Fitzgerald decreased their target price on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.45.

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.