Edgewood Management LLC Has $1.12 Billion Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Edgewood Management LLC trimmed its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,508,940 shares of the technology company's stock after selling 425,216 shares during the period. Trade Desk comprises 3.2% of Edgewood Management LLC's investment portfolio, making the stock its 21st largest position. Edgewood Management LLC owned 1.93% of Trade Desk worth $1,117,586,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Rialto Wealth Management LLC acquired a new stake in shares of Trade Desk in the fourth quarter valued at about $26,000. Harbor Investment Advisory LLC boosted its holdings in Trade Desk by 68.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company's stock worth $34,000 after acquiring an additional 117 shares during the period. Synergy Asset Management LLC acquired a new stake in Trade Desk in the fourth quarter valued at approximately $34,000. Midwest Capital Advisors LLC purchased a new stake in shares of Trade Desk during the fourth quarter valued at approximately $34,000. Finally, Zions Bancorporation N.A. raised its stake in shares of Trade Desk by 148.3% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock valued at $34,000 after purchasing an additional 175 shares during the period. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the company's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the transaction, the insider now owns 90,709 shares of the company's stock, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.72% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TTD shares. Piper Sandler reaffirmed an "overweight" rating and set a $110.00 price target (down from $140.00) on shares of Trade Desk in a report on Thursday, February 13th. Cfra Research upgraded Trade Desk to a "moderate buy" rating in a research note on Tuesday, March 25th. Citizens Jmp raised Trade Desk to a "strong-buy" rating in a research report on Tuesday, January 21st. Loop Capital reduced their price target on Trade Desk from $145.00 to $101.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Finally, BMO Capital Markets lowered their price objective on Trade Desk from $160.00 to $115.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Six 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. Based on data from MarketBeat, Trade Desk presently has a consensus rating of "Moderate Buy" and a consensus price target of $111.79.

Trade Desk Stock Performance

Shares of NASDAQ:TTD traded down $0.69 during trading hours on Friday, hitting $48.58. The stock had a trading volume of 2,938,851 shares, compared to its average volume of 5,130,309. The stock's fifty day simple moving average is $69.64 and its 200 day simple moving average is $104.06. The firm has a market capitalization of $24.10 billion, a price-to-earnings ratio of 62.26, a PEG ratio of 3.11 and a beta of 1.56. The Trade Desk, Inc. has a 1-year low of $42.96 and a 1-year high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted 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%. As a group, research analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in outstanding shares. This buyback authorization authorizes the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

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.