Zevenbergen Capital Investments LLC cut its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 4.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,091,383 shares of the technology company's stock after selling 108,691 shares during the period. Trade Desk comprises approximately 5.0% of Zevenbergen Capital Investments LLC's holdings, making the stock its 7th largest position. Zevenbergen Capital Investments LLC owned approximately 0.42% of Trade Desk worth $245,800,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Trade Desk by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company's stock valued at $5,015,035,000 after buying an additional 253,137 shares in the last quarter. FMR LLC lifted its stake in Trade Desk by 1.3% in the third quarter. FMR LLC now owns 2,616,203 shares of the technology company's stock valued at $286,867,000 after acquiring an additional 32,999 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Trade Desk by 3.3% in the third 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 worth $231,294,000 after acquiring an additional 68,206 shares in the last quarter. Bank of New York Mellon Corp increased its stake 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 purchasing an additional 5,080 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Trade Desk during the 4th quarter valued at $231,570,000. Institutional investors and hedge funds own 67.77% of the company's stock.
Insider Buying and Selling
In related news, insider Jay R. Grant sold 18,524 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the transaction, the insider now 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 position. The disclosure for this sale can be found here. Insiders sold 41,029 shares of company stock worth $5,004,296 in the last quarter. 9.72% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several equities analysts have commented on the stock. Needham & Company LLC reissued a "buy" rating and set a $145.00 target price on shares of Trade Desk in a research report on Thursday, March 13th. Susquehanna lowered their price objective on Trade Desk from $150.00 to $135.00 and set a "positive" rating on the stock in a report on Thursday, February 13th. 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. Royal Bank of Canada dropped their price target on shares of Trade Desk from $120.00 to $100.00 and set an "outperform" rating on the stock in a research report on Monday, March 17th. Finally, Scotiabank reduced their price objective on shares of Trade Desk from $133.00 to $83.00 and set a "sector perform" 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 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 a consensus rating of "Moderate Buy" and an average target price of $116.41.
View Our Latest Stock Report on Trade Desk
Trade Desk Stock Performance
NASDAQ TTD traded down $0.54 during trading on Friday, reaching $56.73. 2,311,792 shares of the company traded hands, compared to its average volume of 4,680,049. The Trade Desk, Inc. has a 1-year low of $53.39 and a 1-year high of $141.53. The stock's 50 day moving average price is $86.39 and its two-hundred day moving average price is $108.61. The company has a market cap of $28.14 billion, a price-to-earnings ratio of 72.62, a P/E/G ratio of 3.11 and a beta of 1.63.
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 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 expect that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.
Trade Desk declared that its Board of Directors has authorized a share 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 usually an indication that the company's management believes its stock is undervalued.
About Trade Desk
(
Free Report)
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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