Primecap Management Co. CA Reduces Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Primecap Management Co. CA lowered its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 37.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 213,400 shares of the technology company's stock after selling 127,000 shares during the quarter. Primecap Management Co. CA's holdings in Trade Desk were worth $25,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of TTD. Jennison Associates LLC boosted its holdings in shares of Trade Desk by 11.0% during the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company's stock valued at $2,228,172,000 after buying an additional 2,013,047 shares in the last quarter. Edgewood Management LLC lifted its position in Trade Desk by 133.3% during the 3rd quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company's stock valued at $1,089,280,000 after acquiring an additional 5,675,571 shares during the period. FMR LLC boosted its stake in Trade Desk by 1.3% during the third quarter. FMR LLC now owns 2,616,203 shares of the technology company's stock worth $286,867,000 after acquiring an additional 32,999 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Trade Desk by 3.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,109,380 shares of the technology company's stock worth $231,294,000 after purchasing an additional 68,206 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Trade Desk by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 2,019,707 shares of the technology company's stock valued at $237,376,000 after purchasing an additional 5,080 shares in the last quarter. 67.77% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TTD. Loop Capital dropped their price target on Trade Desk from $145.00 to $101.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Piper Sandler reissued an "overweight" rating and issued a $110.00 target price (down from $140.00) on shares of Trade Desk in a report on Thursday, February 13th. Royal Bank of Canada reduced their price target on Trade Desk from $120.00 to $100.00 and set an "outperform" rating for the company in a report on Monday, March 17th. UBS Group upped their price target on shares of Trade Desk from $116.00 to $148.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Finally, Stifel Nicolaus reduced their price objective on shares of Trade Desk from $144.00 to $122.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $116.41.

Trade Desk Price Performance

Shares of NASDAQ:TTD traded up $3.03 during midday trading on Monday, hitting $59.34. The company had a trading volume of 10,024,595 shares, compared to its average volume of 4,613,246. The company has a market cap of $29.44 billion, a price-to-earnings ratio of 76.08, a PEG ratio of 3.11 and a beta of 1.63. The company has a fifty day moving average of $91.14 and a two-hundred day moving average of $109.91. The Trade Desk, Inc. has a 12-month low of $53.39 and a 12-month high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued 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%. Research analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

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

Insider Buying and Selling

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the company's stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the completion of the transaction, the insider now directly owns 169,464 shares in the company, valued at $20,225,528.40. This represents a 9.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the business'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 in the company, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,029 shares of company stock valued at $5,004,296. 9.72% of the stock is owned by corporate insiders.

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.