The Trade Desk, Inc. (NASDAQ:TTD) Position Lessened by Dark Forest Capital Management LP

Dark Forest Capital Management LP lowered its holdings in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 39.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 81,497 shares of the technology company's stock after selling 54,128 shares during the period. Trade Desk makes up 1.4% of Dark Forest Capital Management LP's investment portfolio, making the stock its 3rd largest position. Dark Forest Capital Management LP's holdings in Trade Desk were worth $9,578,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Trade Desk by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company's stock worth $5,015,035,000 after purchasing an additional 253,137 shares during the period. Invesco Ltd. raised its position in Trade Desk by 2.6% during the 4th quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company's stock valued at $930,477,000 after purchasing an additional 198,822 shares during the last quarter. Norges Bank bought a new stake in shares of Trade Desk during the 4th quarter valued at about $524,187,000. 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 worth $445,237,000 after acquiring an additional 1,172,082 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted 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 valued at $237,376,000 after buying an additional 5,080 shares in the last quarter. Institutional investors own 67.77% of the company's stock.

Trade Desk Stock Down 5.4 %

Shares of NASDAQ:TTD opened at $47.56 on Tuesday. The firm has a fifty day simple moving average of $60.03 and a two-hundred day simple moving average of $101.03. The Trade Desk, Inc. has a 52 week low of $42.96 and a 52 week high of $141.53. The stock has a market capitalization of $23.59 billion, a P/E ratio of 60.97, a PEG ratio of 3.11 and a beta of 1.56.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share 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%. On average, analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk declared that its board has approved a stock buyback program on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

TTD has been the subject of several recent research reports. Truist Financial lowered their target price on shares of Trade Desk from $130.00 to $95.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Jefferies Financial Group cut their target price on Trade Desk from $120.00 to $75.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Robert W. Baird dropped their price target on shares of Trade Desk from $160.00 to $145.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Piper Sandler began coverage on shares of Trade Desk in a research note on Thursday, April 17th. They set a "neutral" rating and a $55.00 price objective for the company. 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 on the stock in a research note on Monday, March 17th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Trade Desk presently has a consensus rating of "Moderate Buy" and an average price target of $104.10.

Insider Transactions at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of the business's stock in a transaction 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 of the company's stock, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 9.72% of the company's stock.

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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