T. Rowe Price Investment Management Inc. Sells 587,589 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

T. Rowe Price Investment Management Inc. lessened its holdings in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,811,864 shares of the technology company's stock after selling 587,589 shares during the period. Trade Desk makes up about 1.0% of T. Rowe Price Investment Management Inc.'s investment portfolio, making the stock its 14th largest position. T. Rowe Price Investment Management Inc. owned about 2.80% of Trade Desk worth $1,623,309,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. MGO One Seven LLC lifted its stake in shares of Trade Desk by 5.0% in the 4th quarter. MGO One Seven LLC now owns 10,804 shares of the technology company's stock valued at $1,270,000 after purchasing an additional 511 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Trade Desk by 3.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,375,266 shares of the technology company's stock valued at $396,696,000 after buying an additional 99,634 shares during the period. Quantessence Capital LLC bought a new stake in Trade Desk in the fourth quarter worth $589,000. Harvest Investment Services LLC purchased a new position in Trade Desk during the fourth quarter worth $321,000. Finally, Alpine Global Management LLC bought a new position in Trade Desk during the fourth quarter valued at $454,000. Hedge funds and other institutional investors own 67.77% of the company's stock.

Insiders Place Their Bets

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction that occurred on Tuesday, January 28th. The shares were 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 directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 9.72% of the stock is currently owned by insiders.

Trade Desk Stock Performance

Shares of TTD stock opened at $48.66 on Wednesday. The firm has a market capitalization of $24.14 billion, a price-to-earnings ratio of 62.38, a PEG ratio of 3.11 and a beta of 1.56. The Trade Desk, Inc. has a fifty-two week low of $42.96 and a fifty-two week high of $141.53. The stock's 50-day simple moving average is $59.36 and its 200-day simple moving average is $100.67.

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

Trade Desk declared that its board 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 typically a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TTD shares. Scotiabank reduced their price objective on shares of 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. Loop Capital reduced their price target on Trade Desk from $145.00 to $101.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. JMP Securities dropped their price objective 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. Cantor Fitzgerald decreased their target price on Trade Desk from $115.00 to $100.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Finally, UBS Group cut their price target on shares of Trade Desk from $116.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $104.10.

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.

Want to see what other hedge funds are holding TTD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Trade Desk, Inc. (NASDAQ:TTD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.