Shelton Capital Management Has $8.65 Million Position in The Trade Desk, Inc. (NASDAQ:TTD)

Shelton Capital Management grew its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 37.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,608 shares of the technology company's stock after purchasing an additional 20,000 shares during the period. Shelton Capital Management's holdings in Trade Desk were worth $8,651,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in TTD. Canopy Partners LLC increased its position in shares of Trade Desk by 129.0% in the fourth quarter. Canopy Partners LLC now owns 5,299 shares of the technology company's stock worth $623,000 after purchasing an additional 2,985 shares during the period. Invesco Ltd. grew its stake in Trade Desk by 2.6% during the fourth quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company's stock worth $930,477,000 after buying an additional 198,822 shares in the last quarter. Cerity Partners LLC increased its holdings in Trade Desk by 2.1% in the 4th quarter. Cerity Partners LLC now owns 75,123 shares of the technology company's stock valued at $8,681,000 after buying an additional 1,559 shares during the period. FMR LLC raised its position in shares of Trade Desk by 44.8% in the 4th quarter. FMR LLC now owns 3,788,285 shares of the technology company's stock valued at $445,237,000 after buying an additional 1,172,082 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of Trade Desk by 176.7% during the 4th quarter. Federated Hermes Inc. now owns 589,374 shares of the technology company's stock worth $69,269,000 after acquiring an additional 376,407 shares during the period. 67.77% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TTD. Evercore ISI cut shares of Trade Desk from an "outperform" rating to an "inline" rating and decreased their price objective for the company from $135.00 to $90.00 in a research note on Thursday, February 13th. JMP Securities lowered their price target on Trade Desk from $150.00 to $115.00 and set a "market outperform" rating for the company in a report on Thursday, February 13th. DA Davidson dropped their price objective on Trade Desk from $134.00 to $103.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Scotiabank decreased their target price on Trade Desk from $133.00 to $83.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 13th. Finally, Royal Bank of Canada dropped their target price on shares of Trade Desk from $120.00 to $100.00 and set an "outperform" rating for the company in a report on Monday, March 17th. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $111.79.

Trade Desk Price Performance

NASDAQ TTD traded up $0.51 during mid-day trading on Friday, reaching $49.78. 7,135,822 shares of the stock were exchanged, compared to its average volume of 5,155,756. The stock has a 50 day simple moving average of $68.37 and a 200-day simple moving average of $103.64. The Trade Desk, Inc. has a one year low of $42.96 and a one year high of $141.53. The stock has a market cap of $24.70 billion, a P/E ratio of 63.82, a P/E/G 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 the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. 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 has authorized a share repurchase program on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its shares are undervalued.

Insider Transactions at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of the company's stock in a transaction dated Tuesday, January 28th. The shares were 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 approximately $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.72% of the company's stock.

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.