Swiss National Bank Trims Position in The Trade Desk, Inc. (NASDAQ:TTD)

Swiss National Bank decreased its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 4.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,268,400 shares of the technology company's stock after selling 53,000 shares during the quarter. Swiss National Bank owned about 0.26% of Trade Desk worth $149,075,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Jennison Associates LLC boosted its position in shares of Trade Desk by 11.0% in the third 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. Edgewood Management LLC raised its stake in Trade Desk by 133.3% during the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company's stock worth $1,089,280,000 after purchasing an additional 5,675,571 shares during the period. FMR LLC boosted its holdings in shares of Trade Desk by 1.3% in the 3rd quarter. FMR LLC now owns 2,616,203 shares of the technology company's stock valued at $286,867,000 after purchasing an additional 32,999 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Trade Desk by 3.3% during the 3rd 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 valued at $231,294,000 after buying an additional 68,206 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Trade Desk by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,019,707 shares of the technology company's stock worth $237,376,000 after buying an additional 5,080 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company's stock.

Insider Activity

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the business's stock in a transaction dated Tuesday, January 7th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jay R. Grant sold 18,524 shares of the business's stock in a transaction that occurred 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 transaction, 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 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. 9.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Susquehanna decreased 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. Truist Financial decreased their price target on shares of Trade Desk from $155.00 to $130.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Citizens Jmp upgraded Trade Desk to a "strong-buy" rating in a research note on Tuesday, January 21st. Citigroup decreased their target price on Trade Desk from $140.00 to $108.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Finally, Needham & Company LLC reissued a "buy" rating and set a $145.00 price target on shares of Trade Desk in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $119.45.

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Trade Desk Stock Performance

Shares of NASDAQ TTD opened at $53.88 on Friday. The stock has a market capitalization of $26.73 billion, a P/E ratio of 69.08, a PEG ratio of 3.11 and a beta of 1.63. The stock's fifty day moving average is $100.42 and its 200 day moving average is $112.21. The Trade Desk, Inc. has a 52 week low of $53.74 and a 52 week high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued 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 net margin of 16.08% and a return on equity of 16.38%. Equities research analysts forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 12th that permits the company to repurchase $564.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are 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.

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