New York State Common Retirement Fund Sells 18,860 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

New York State Common Retirement Fund reduced its stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 6.8% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 259,702 shares of the technology company's stock after selling 18,860 shares during the quarter. New York State Common Retirement Fund owned 0.05% of Trade Desk worth $30,523,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in TTD. Edgewood Management LLC raised its stake in shares of Trade Desk by 133.3% in the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company's stock valued at $1,089,280,000 after buying an additional 5,675,571 shares during the period. Jennison Associates LLC increased its holdings in Trade Desk by 11.0% in the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company's stock worth $2,228,172,000 after acquiring an additional 2,013,047 shares during the last quarter. Baillie Gifford & Co. raised its stake in Trade Desk by 4.7% in the 3rd quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company's stock valued at $4,245,218,000 after acquiring an additional 1,720,650 shares during the period. International Assets Investment Management LLC lifted its holdings in Trade Desk by 10,856.6% during the third quarter. International Assets Investment Management LLC now owns 1,572,820 shares of the technology company's stock valued at $172,460,000 after purchasing an additional 1,558,465 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Trade Desk by 55.3% during the third quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company's stock worth $169,892,000 after purchasing an additional 551,925 shares during the period. Institutional investors own 67.77% of the company's stock.

Trade Desk Stock Down 4.8 %

Shares of TTD traded down $3.67 during trading hours on Friday, hitting $72.06. The company had a trading volume of 12,810,867 shares, compared to its average volume of 7,245,894. The Trade Desk, Inc. has a 52-week low of $71.61 and a 52-week high of $141.53. The stock's 50 day moving average price is $115.27 and its 200 day moving average price is $114.88. The firm 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 quarterly 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, research analysts expect 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 buyback plan on Wednesday, February 12th that authorizes the company to buyback $564.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 0.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

Insider Activity at Trade Desk

In related news, insider Samantha Jacobson sold 4,298 shares of the business's stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the transaction, the insider now owns 90,709 shares in the company, valued at $10,754,459.04. The trade was a 4.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of the company's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the transaction, the chief executive officer now directly owns 704,229 shares of the company's stock, valued at $88,338,485.76. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,029 shares of company stock worth $5,004,296 in the last three months. 9.72% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. DA Davidson lowered their price target on shares of Trade Desk from $134.00 to $103.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. New Street Research raised shares of Trade Desk from a "sell" rating to a "neutral" rating and boosted their target price for the company from $85.00 to $115.00 in a report on Monday, November 25th. Evercore ISI downgraded Trade Desk from an "outperform" rating to an "inline" rating and dropped their target price for the stock from $135.00 to $90.00 in a research report on Thursday, February 13th. KeyCorp lifted their price target on Trade Desk from $140.00 to $142.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Finally, Wolfe Research increased their price objective on Trade Desk from $140.00 to $155.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Trade Desk currently has a consensus rating of "Moderate Buy" and a consensus price target of $119.45.

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.