Geode Capital Management LLC Has $900.14 Million Position in The Trade Desk, Inc. (NASDAQ:TTD)

Geode Capital Management LLC lowered its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 6.0% in the fourth quarter, Holdings Channel reports. The firm owned 7,670,568 shares of the technology company’s stock after selling 492,986 shares during the period. Geode Capital Management LLC’s holdings in Trade Desk were worth $900,138,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Rialto Wealth Management LLC acquired a new position in Trade Desk in the fourth quarter valued at about $26,000. Harbor Investment Advisory LLC increased its stake 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 purchasing an additional 117 shares in the last quarter. Synergy Asset Management LLC bought a new position in Trade Desk in the fourth quarter valued at approximately $34,000. Midwest Capital Advisors LLC bought a new stake in shares of Trade Desk during the fourth quarter worth $34,000. Finally, Zions Bancorporation N.A. lifted its position in Trade Desk by 148.3% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after acquiring an additional 175 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Stock Performance

NASDAQ:TTD opened at $56.30 on Thursday. The firm has a market cap of $27.93 billion, a price-to-earnings ratio of 72.18, a P/E/G ratio of 3.11 and a beta of 1.56. The Trade Desk, Inc. has a 52 week low of $52.36 and a 52 week high of $141.53. The firm’s 50-day simple moving average is $80.98 and its 200 day simple moving average is $107.36.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share 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%. Sell-side analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk declared that its board has initiated a share buyback plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Wolfe Research upped their price objective on Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Morgan Stanley cut their price objective on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Oppenheimer decreased their target price on shares of Trade Desk from $135.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. BMO Capital Markets cut their price target on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Finally, Royal Bank of Canada decreased their price objective on Trade Desk from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Monday, March 17th. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $114.38.

Insider Activity

In other news, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the sale, the insider now owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk 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 directly owns 704,229 shares in the company, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.72% of the company’s stock.

Trade Desk Company 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.