Griffin Asset Management Inc. Lowers Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Griffin Asset Management Inc. reduced its position in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 8.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 62,501 shares of the technology company's stock after selling 5,534 shares during the quarter. Griffin Asset Management Inc.'s holdings in Trade Desk were worth $7,346,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Harbor Investment Advisory LLC lifted its position in shares of Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company's stock valued at $34,000 after buying an additional 117 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in Trade Desk during the fourth quarter valued at approximately $35,000. Avior Wealth Management LLC boosted its position in shares of Trade Desk by 37.7% in the third quarter. Avior Wealth Management LLC now owns 365 shares of the technology company's stock worth $40,000 after purchasing an additional 100 shares during the period. Quarry LP purchased a new stake in shares of Trade Desk in the second quarter worth $41,000. Finally, Brown Lisle Cummings Inc. raised its position in shares of Trade Desk by 66.7% during the 3rd quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company's stock valued at $41,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 67.77% of the company's stock.

Trade Desk Price Performance

Shares of TTD stock traded down $0.55 during mid-day trading on Friday, hitting $118.39. The stock had a trading volume of 1,934,492 shares, compared to its average volume of 3,394,250. The Trade Desk, Inc. has a 12-month low of $66.56 and a 12-month high of $141.53. The firm's 50-day moving average is $125.70 and its two-hundred day moving average is $114.05. The firm has a market capitalization of $58.43 billion, a P/E ratio of 194.03, a price-to-earnings-growth ratio of 3.88 and a beta of 1.45.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its earnings results on Thursday, November 7th. The technology company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.21). The company had revenue of $628.02 million for the quarter, compared to analysts' expectations 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 in the prior year, the company earned $0.08 EPS. Analysts expect that The Trade Desk, Inc. will post 0.87 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wolfe Research increased their price target on Trade Desk from $140.00 to $155.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Benchmark reiterated a "sell" rating and issued a $57.00 price target on shares of Trade Desk in a report on Friday, November 8th. Piper Sandler restated an "overweight" rating and set a $140.00 price objective (up previously from $110.00) on shares of Trade Desk in a research report on Friday, November 8th. Susquehanna reiterated a "positive" rating and issued a $150.00 target price on shares of Trade Desk in a research report on Thursday, November 21st. Finally, Scotiabank started coverage on Trade Desk in a research note on Thursday, December 5th. They issued a "sector perform" rating and a $133.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $133.13.

Insider Buying and Selling at Trade Desk

In related news, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction that occurred 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 in the company, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $2,210,839.40. Following the transaction, the insider now owns 169,464 shares in the company, valued at $20,225,528.40. The trade was a 9.85 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 553,982 shares of company stock valued at $68,954,147. 9.72% of the stock is currently owned by 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.