The Trade Desk, Inc. (NASDAQ:TTD) Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. lowered its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 8.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,501 shares of the technology company’s stock after selling 5,534 shares during the period. Griffin Asset Management Inc.’s holdings in Trade Desk were worth $7,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. APG Asset Management N.V. lifted its holdings in shares of Trade Desk by 197.1% in the 2nd quarter. APG Asset Management N.V. now owns 55,472 shares of the technology company’s stock valued at $5,055,000 after purchasing an additional 36,800 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Trade Desk by 11.9% in the second quarter. The Manufacturers Life Insurance Company now owns 24,440 shares of the technology company’s stock valued at $2,387,000 after acquiring an additional 2,593 shares in the last quarter. Kathmere Capital Management LLC acquired a new position in shares of Trade Desk during the second quarter worth about $206,000. Driehaus Capital Management LLC purchased a new position in Trade Desk during the second quarter worth about $1,191,000. Finally, Algert Global LLC lifted its position in Trade Desk by 22.5% in the second quarter. Algert Global LLC now owns 4,893 shares of the technology company’s stock valued at $478,000 after purchasing an additional 900 shares during the period. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on TTD. Truist Financial raised their price target on Trade Desk from $135.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Citizens Jmp upgraded shares of Trade Desk to a “strong-buy” rating in a research report on Tuesday, January 21st. Wedbush raised their price objective on shares of Trade Desk from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Wells Fargo & Company increased their target price on shares of Trade Desk from $141.00 to $142.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, StockNews.com lowered Trade Desk from a “buy” rating to a “hold” rating in a research note on Saturday, November 30th. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.13.

Insider Buying and Selling

In related news, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $119.35, for a total value 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. This represents a 9.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey Terry Green sold 512,953 shares of Trade Desk stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $124.67, for a total transaction of $63,949,850.51. Following the transaction, the chief executive officer now owns 243,476 shares in the company, valued at approximately $30,354,152.92. The trade was a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 549,684 shares of company stock worth $68,444,576 in the last three months. 9.72% of the stock is currently owned by insiders.

Trade Desk Stock Down 0.7 %

Shares of NASDAQ TTD opened at $119.10 on Tuesday. The firm’s 50-day simple moving average is $125.87 and its 200 day simple moving average is $113.80. The stock has a market cap of $58.78 billion, a P/E ratio of 195.25, a P/E/G ratio of 3.82 and a beta of 1.45. The Trade Desk, Inc. has a fifty-two week low of $66.56 and a fifty-two week high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.21). The business had revenue of $628.02 million during the quarter, compared to the consensus estimate of $619.89 million. Trade Desk had a return on equity of 13.17% and a net margin of 13.34%. During the same quarter last year, the firm posted $0.08 earnings per share. On average, sell-side analysts anticipate that The Trade Desk, Inc. will post 0.87 earnings per share for the current fiscal year.

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.