California Public Employees Retirement System Decreases Stake in The Trade Desk, Inc. (NASDAQ:TTD)

California Public Employees Retirement System lessened its stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 8.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 705,065 shares of the technology company's stock after selling 61,732 shares during the quarter. California Public Employees Retirement System owned about 0.14% of Trade Desk worth $82,866,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of TTD. Summit Securities Group LLC acquired a new stake in Trade Desk in the fourth quarter valued at about $64,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Trade Desk in the 4th quarter valued at approximately $100,658,000. Allianz SE bought a new stake in shares of Trade Desk during the 4th quarter valued at approximately $266,000. Allstate Corp bought a new position in Trade Desk in the 4th quarter valued at approximately $1,549,000. Finally, Brown Brothers Harriman & Co. boosted its position in Trade Desk by 138.5% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,116 shares of the technology company's stock valued at $131,000 after buying an additional 648 shares in the last quarter. 67.77% of the stock is owned by institutional investors.

Trade Desk Price Performance

Shares of NASDAQ:TTD traded down $7.22 during midday trading on Thursday, hitting $49.08. 15,207,992 shares of the company's stock were exchanged, compared to its average volume of 4,893,468. The Trade Desk, Inc. has a 12 month low of $48.88 and a 12 month high of $141.53. The company has a market cap of $24.35 billion, a PE ratio of 62.92, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56. The stock has a 50 day moving average price of $80.98 and a 200-day moving average price of $107.36.

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Trade Desk (NASDAQ:TTD - Get Free Report) last issued 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 return on equity of 16.38% and a net margin of 16.08%. On average, analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its board has authorized a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, 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 transaction, the chief executive officer now owns 704,229 shares of the company's stock, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction on 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 in the company, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.72% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on TTD. Susquehanna dropped their price target on Trade Desk from $150.00 to $135.00 and set a "positive" rating for the company in a research note on Thursday, February 13th. BMO Capital Markets reduced their price objective on shares of Trade Desk from $160.00 to $115.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Jefferies Financial Group lowered their target price on Trade Desk from $120.00 to $75.00 and set a "buy" rating for the company in a research report on Wednesday. Loop Capital reduced their price target on Trade Desk from $145.00 to $101.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Finally, KeyCorp lowered their price objective on Trade Desk from $130.00 to $74.00 and set an "overweight" rating for the company in a research report on Tuesday, March 18th. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Trade Desk has a consensus rating of "Moderate Buy" and a consensus price target of $114.38.

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.