Baillie Gifford & Co. Sells 3,537,141 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Baillie Gifford & Co. lessened its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 9.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 35,178,933 shares of the technology company's stock after selling 3,537,141 shares during the period. Trade Desk makes up approximately 3.2% of Baillie Gifford & Co.'s holdings, making the stock its 7th largest holding. Baillie Gifford & Co. owned approximately 7.13% of Trade Desk worth $4,134,580,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Edgewood Management LLC increased its stake in Trade Desk by 133.3% in 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. Jennison Associates LLC increased its stake in 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 purchasing an additional 2,013,047 shares during the period. International Assets Investment Management LLC increased its stake in Trade Desk by 10,856.6% in the third quarter. International Assets Investment Management LLC now owns 1,572,820 shares of the technology company's stock worth $172,460,000 after purchasing an additional 1,558,465 shares during the period. Wellington Management Group LLP increased its stake in Trade Desk by 55.3% in the third quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company's stock worth $169,892,000 after purchasing an additional 551,925 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Trade Desk by 1,809.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 444,616 shares of the technology company's stock worth $48,752,000 after buying an additional 421,333 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company's stock.

Trade Desk Stock Down 1.3 %

Shares of NASDAQ:TTD traded down $1.02 during trading on Thursday, hitting $75.73. The stock had a trading volume of 13,551,253 shares, compared to its average volume of 7,076,068. The Trade Desk, Inc. has a 12-month low of $74.10 and a 12-month high of $141.53. The stock has a market capitalization of $37.38 billion, a price-to-earnings ratio of 97.09, a price-to-earnings-growth ratio of 3.28 and a beta of 1.45. The stock has a 50-day simple moving average of $116.48 and a two-hundred day simple moving average of $114.96.

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

Trade Desk announced that its Board of Directors has initiated a share buyback 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 shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Evercore ISI downgraded Trade Desk from an "outperform" rating to an "inline" rating and dropped their price target for the stock from $135.00 to $90.00 in a research report on Thursday, February 13th. Piper Sandler reissued an "overweight" rating and set a $110.00 price target (down previously from $140.00) on shares of Trade Desk in a research report on Thursday, February 13th. Scotiabank dropped their price target 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. Wolfe Research raised their price objective on Trade Desk from $140.00 to $155.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. Finally, StockNews.com downgraded Trade Desk from a "buy" rating to a "hold" rating in a research report on Saturday, November 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $119.45.

Insider Activity at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 704,229 shares of the company's stock, valued at approximately $88,338,485.76. This trade represents a 2.52 % 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 hyperlink. Also, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the completion of the sale, the insider now directly owns 169,464 shares in the company, valued at $20,225,528.40. This represents a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,029 shares of company stock worth $5,004,296. 9.72% of the stock is owned by corporate insiders.

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.