Evolutionary Tree Capital Management LLC Sells 5,254 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Evolutionary Tree Capital Management LLC cut its position in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 31.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,486 shares of the technology company's stock after selling 5,254 shares during the quarter. Trade Desk makes up about 1.4% of Evolutionary Tree Capital Management LLC's holdings, making the stock its 28th biggest position. Evolutionary Tree Capital Management LLC's holdings in Trade Desk were worth $1,350,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Rialto Wealth Management LLC purchased a new position in shares of Trade Desk in the 4th quarter worth about $26,000. Harbor Investment Advisory LLC increased its holdings in Trade Desk by 68.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company's stock worth $34,000 after buying an additional 117 shares during the last quarter. Midwest Capital Advisors LLC bought a new stake in Trade Desk in the fourth quarter worth about $34,000. Zions Bancorporation N.A. boosted its stake in Trade Desk by 148.3% in the fourth 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 during the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in shares of Trade Desk during the 4th quarter valued at approximately $35,000. 67.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on TTD. Needham & Company LLC reaffirmed a "buy" rating and issued a $84.00 price target on shares of Trade Desk in a report on Monday. Robert W. Baird lowered their target price on Trade Desk from $160.00 to $145.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. BMO Capital Markets dropped their price target on Trade Desk from $160.00 to $115.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Citizens Jmp raised Trade Desk to a "strong-buy" rating in a report on Tuesday, January 21st. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $110.00 price objective (down from $140.00) on shares of Trade Desk in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $109.69.

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Insiders Place Their Bets

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the business's stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the sale, the insider now directly owns 90,709 shares of the company's stock, valued at $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 9.72% of the stock is owned by insiders.

Trade Desk Stock Up 1.2 %

Shares of NASDAQ TTD traded up $0.60 during mid-day trading on Tuesday, reaching $49.24. 9,734,187 shares of the company were exchanged, compared to its average volume of 5,216,409. The Trade Desk, Inc. has a 52 week low of $42.96 and a 52 week high of $141.53. The company's 50 day moving average price is $65.74 and its 200 day moving average price is $102.80. The stock has a market capitalization of $24.43 billion, a PE ratio of 63.13, a PEG ratio of 3.11 and a beta of 1.56.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate 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, sell-side analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its board has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.

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.