Voya Investment Management LLC Sells 293,087 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Voya Investment Management LLC decreased its position in The Trade Desk, Inc. (NASDAQ:TTD) by 15.3% during the 4th quarter, HoldingsChannel reports. The fund owned 1,624,538 shares of the technology company’s stock after selling 293,087 shares during the quarter. Voya Investment Management LLC’s holdings in Trade Desk were worth $190,841,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TTD. Rialto Wealth Management LLC bought a new position in Trade Desk in the fourth quarter valued at approximately $26,000. Harbor Investment Advisory LLC raised its position in Trade Desk by 68.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after acquiring an additional 117 shares in the last quarter. Synergy Asset Management LLC bought a new stake in Trade Desk during the fourth quarter worth $34,000. Midwest Capital Advisors LLC acquired a new stake in Trade Desk in the fourth quarter valued at $34,000. Finally, Zions Bancorporation N.A. grew its position in shares of Trade Desk by 148.3% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after acquiring an additional 175 shares during the period. 67.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TTD shares. Royal Bank of Canada cut their target price on shares of Trade Desk from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Monday, March 17th. Stifel Nicolaus cut their price objective on Trade Desk from $122.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday. Wells Fargo & Company decreased their target price on Trade Desk from $101.00 to $72.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. 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 note on Thursday, February 13th. Finally, Benchmark raised shares of Trade Desk from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Seven 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.90.

Trade Desk Stock Up 3.0 %

Trade Desk stock opened at $50.11 on Thursday. The stock has a market cap of $24.86 billion, a PE ratio of 64.24, a P/E/G ratio of 3.11 and a beta of 1.56. The Trade Desk, Inc. has a 12-month low of $42.96 and a 12-month high of $141.53. The business’s 50-day moving average price is $58.76 and its two-hundred day moving average price is $100.32.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, 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 initiated a stock buyback plan on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.72% of the stock is currently owned by corporate insiders.

Trade Desk 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.