Kornitzer Capital Management Inc. KS Has $8.50 Million Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Kornitzer Capital Management Inc. KS lowered its holdings in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 29.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 72,279 shares of the technology company's stock after selling 30,124 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Trade Desk were worth $8,495,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of TTD. Focus Financial Network Inc. lifted its holdings in shares of Trade Desk by 2.2% during the 4th quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company's stock worth $456,000 after acquiring an additional 84 shares during the period. CAP Partners LLC lifted its holdings in shares of Trade Desk by 1.4% during the 3rd quarter. CAP Partners LLC now owns 6,403 shares of the technology company's stock worth $702,000 after acquiring an additional 86 shares during the period. RMR Wealth Builders lifted its holdings in shares of Trade Desk by 0.8% during the 4th quarter. RMR Wealth Builders now owns 10,613 shares of the technology company's stock worth $1,247,000 after acquiring an additional 89 shares during the period. Quotient Wealth Partners LLC lifted its holdings in shares of Trade Desk by 4.2% during the 4th quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company's stock worth $276,000 after acquiring an additional 94 shares during the period. Finally, TFB Advisors LLC lifted its holdings in shares of Trade Desk by 2.6% during the 4th quarter. TFB Advisors LLC now owns 3,759 shares of the technology company's stock worth $442,000 after acquiring an additional 94 shares during the period. Institutional investors own 67.77% of the company's stock.

Wall Street Analysts Forecast Growth

TTD has been the subject of a number of recent analyst reports. BMO Capital Markets cut their price target on shares of Trade Desk from $160.00 to $115.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. KeyCorp upped their price objective on shares of Trade Desk from $140.00 to $142.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Citizens Jmp raised shares of Trade Desk to a "strong-buy" rating in a research note on Tuesday, January 21st. Evercore ISI downgraded shares of Trade Desk from an "outperform" rating to an "inline" rating and dropped their price objective for the company from $135.00 to $90.00 in a research note on Thursday, February 13th. Finally, Susquehanna dropped their price objective on shares of Trade Desk from $150.00 to $135.00 and set a "positive" rating for the company in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Trade Desk currently has a consensus rating of "Moderate Buy" and a consensus price target of $119.45.

Insider Buying and Selling

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the firm's stock in a transaction 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 directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of the firm's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the sale, the insider now 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 disclosure for this sale can be found here. Insiders sold 41,029 shares of company stock valued at $5,004,296 over the last quarter. Insiders own 9.72% of the company's stock.

Trade Desk Price Performance

NASDAQ TTD traded down $3.67 during mid-day trading on Friday, reaching $72.06. 12,810,867 shares of the stock were exchanged, compared to its average volume of 7,245,894. The Trade Desk, Inc. has a one year low of $71.61 and a one year high of $141.53. The stock has a 50 day simple moving average of $116.48 and a 200-day simple moving average of $114.96. The stock has a market cap of $35.57 billion, a P/E ratio of 92.38, a P/E/G ratio of 3.15 and a beta of 1.45.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share 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%. Sell-side analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are 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.