TD Asset Management Inc Sells 7,894 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

TD Asset Management Inc lowered its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 0.5% in the first quarter, Holdings Channel reports. The fund owned 1,438,830 shares of the technology company’s stock after selling 7,894 shares during the quarter. TD Asset Management Inc’s holdings in Trade Desk were worth $125,783,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TTD. Jennison Associates LLC grew its position in Trade Desk by 91.7% during the 4th quarter. Jennison Associates LLC now owns 14,586,150 shares of the technology company’s stock worth $1,049,619,000 after acquiring an additional 6,978,352 shares during the last quarter. Norges Bank bought a new stake in shares of Trade Desk during the fourth quarter worth about $255,316,000. ARK Investment Management LLC increased its stake in shares of Trade Desk by 1,162.0% in the fourth quarter. ARK Investment Management LLC now owns 2,149,654 shares of the technology company’s stock valued at $154,689,000 after buying an additional 1,979,319 shares during the period. International Assets Investment Management LLC raised its holdings in Trade Desk by 6,600.0% in the 4th quarter. International Assets Investment Management LLC now owns 1,091,561 shares of the technology company’s stock valued at $78,549,000 after buying an additional 1,075,269 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Trade Desk by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock valued at $3,003,666,000 after buying an additional 818,568 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Trading Up 0.4 %

NASDAQ TTD traded up $0.34 during mid-day trading on Thursday, hitting $95.58. The company’s stock had a trading volume of 1,336,587 shares, compared to its average volume of 4,122,596. The firm has a market capitalization of $46.75 billion, a price-to-earnings ratio of 242.21, a PEG ratio of 5.17 and a beta of 1.48. The company’s 50 day simple moving average is $95.87 and its 200 day simple moving average is $84.65. The Trade Desk, Inc. has a twelve month low of $60.23 and a twelve month high of $102.67.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. Trade Desk had a net margin of 9.80% and a return on equity of 9.41%. The firm had revenue of $491.25 million during the quarter, compared to analysts’ expectations of $480.03 million. As a group, research analysts forecast that The Trade Desk, Inc. will post 0.85 EPS for the current year.

Analysts Set New Price Targets

TTD has been the subject of several recent research reports. Wedbush initiated coverage on shares of Trade Desk in a research report on Monday, June 17th. They issued an “outperform” rating and a $110.00 price target for the company. Susquehanna reaffirmed a “positive” rating and set a $110.00 target price on shares of Trade Desk in a research report on Thursday, May 16th. Truist Financial reaffirmed a “buy” rating and set a $105.00 target price on shares of Trade Desk in a report on Thursday, May 16th. Wolfe Research started coverage on Trade Desk in a research report on Tuesday. They set an “outperform” rating and a $115.00 price objective for the company. Finally, DA Davidson upped their target price on Trade Desk from $95.00 to $104.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $95.08.

Insider Activity

In other Trade Desk news, CFO Laura Schenkein sold 25,000 shares of Trade Desk stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $100.43, for a total transaction of $2,510,750.00. Following the transaction, the chief financial officer now directly owns 703,038 shares of the company’s stock, valued at approximately $70,606,106.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Jay R. Grant sold 141,434 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $97.42, for a total transaction of $13,778,500.28. Following the completion of the sale, the insider now directly owns 188,236 shares of the company’s stock, valued at $18,337,951.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Laura Schenkein sold 25,000 shares of the business’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $100.43, for a total value of $2,510,750.00. Following the completion of the transaction, the chief financial officer now directly owns 703,038 shares in the company, valued at approximately $70,606,106.34. The disclosure for this sale can be found here. Insiders have sold 362,554 shares of company stock worth $33,414,310 over the last 90 days. 10.18% of the stock is currently owned by corporate insiders.

Trade Desk Profile

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.