Kayne Anderson Rudnick Investment Management LLC Lowers Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Kayne Anderson Rudnick Investment Management LLC lowered its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 5.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,292,728 shares of the technology company's stock after selling 69,527 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.26% of Trade Desk worth $151,934,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Rialto Wealth Management LLC purchased a new stake in Trade Desk during the fourth quarter valued at $26,000. Harbor Investment Advisory LLC grew its stake 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 purchasing an additional 117 shares during the period. Midwest Capital Advisors LLC purchased a new stake in shares of Trade Desk during the 4th quarter valued at about $34,000. Zions Bancorporation N.A. lifted its stake in shares of Trade Desk by 148.3% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock worth $34,000 after purchasing an additional 175 shares during the period. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Trade Desk in the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 67.77% of the company's stock.

Insider Transactions at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction that occurred 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 directly owns 90,709 shares in the company, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 9.72% of the company's stock.

Wall Street Analysts Forecast Growth

TTD has been the subject of a number of research reports. Jefferies Financial Group reduced their target price on shares of Trade Desk from $120.00 to $75.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Royal Bank of Canada reduced their price objective on Trade Desk from $120.00 to $100.00 and set an "outperform" rating for the company in a research note on Monday, March 17th. Stifel Nicolaus lowered their target price on Trade Desk from $122.00 to $87.00 and set a "buy" rating on the stock in a research report on Wednesday. DA Davidson cut their price target on Trade Desk from $134.00 to $103.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Finally, Piper Sandler assumed coverage on Trade Desk in a research note on Thursday, April 17th. They issued a "neutral" rating and a $55.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $102.90.

Trade Desk Stock Up 6.4 %

TTD traded up $3.19 on Thursday, hitting $53.27. The company had a trading volume of 6,833,388 shares, compared to its average volume of 5,356,089. The business's fifty day simple moving average is $58.76 and its 200 day simple moving average is $100.32. The Trade Desk, Inc. has a 12-month low of $42.96 and a 12-month high of $141.53. The company has a market cap of $26.43 billion, a PE ratio of 68.29, a PEG ratio of 3.11 and a beta of 1.56.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its earnings results 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 earnings per share for the current fiscal year.

Trade Desk announced that its board has authorized a share repurchase program on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 0.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

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.