Rafferty Asset Management LLC Has $12.08 Million Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Rafferty Asset Management LLC lowered its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 4.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 102,805 shares of the technology company’s stock after selling 4,369 shares during the period. Rafferty Asset Management LLC’s holdings in Trade Desk were worth $12,083,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TTD. Focus Financial Network Inc. grew its holdings in shares of Trade Desk by 2.2% during the 4th quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock worth $456,000 after purchasing an additional 84 shares in the last quarter. Quotient Wealth Partners LLC grew its holdings in shares of Trade Desk by 4.2% during the 4th quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock worth $276,000 after purchasing an additional 94 shares in the last quarter. TFB Advisors LLC grew its holdings in shares of Trade Desk by 2.6% during the 4th quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock worth $442,000 after purchasing an additional 94 shares in the last quarter. Centurion Wealth Management LLC grew its holdings in shares of Trade Desk by 2.6% during the 4th quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company’s stock worth $443,000 after purchasing an additional 96 shares in the last quarter. Finally, Values First Advisors Inc. grew its holdings in shares of Trade Desk by 0.9% during the 4th quarter. Values First Advisors Inc. now owns 11,892 shares of the technology company’s stock worth $1,398,000 after purchasing an additional 107 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jeffrey Terry Green sold 26,684 shares of Trade Desk stock in a transaction on Monday, May 12th. The stock was sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the completion of the sale, the chief executive officer now directly owns 17,018 shares of the company’s stock, valued at $1,361,950.54. The trade was a 61.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David B. Wells sold 28,638 shares of Trade Desk stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total value of $2,287,603.44. Following the sale, the director now directly owns 66,985 shares of the company’s stock, valued at approximately $5,350,761.80. This trade represents a 29.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.74% of the stock is owned by insiders.

Trade Desk Stock Down 1.5%

TTD stock opened at $76.31 on Friday. The company has a market cap of $37.86 billion, a P/E ratio of 97.83, a PEG ratio of 3.11 and a beta of 1.29. The Trade Desk, Inc. has a twelve month low of $42.96 and a twelve month high of $141.53. The business has a fifty day moving average of $56.12 and a 200-day moving average of $93.89.

Trade Desk (NASDAQ:TTD) last released its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. The company had revenue of $616.02 million during the quarter, compared to the consensus estimate of $575.62 million. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The firm’s quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.26 earnings per share. As a group, equities research analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its board has initiated a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in shares. This repurchase authorization allows the technology company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Morgan Stanley lifted their price objective on Trade Desk from $60.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Wedbush reaffirmed an “outperform” rating and issued a $86.00 price target (up previously from $80.00) on shares of Trade Desk in a research note on Friday, May 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $84.00 price target on shares of Trade Desk in a research note on Thursday. Wells Fargo & Company decreased their price target on Trade Desk from $101.00 to $72.00 and set an “overweight” rating on the stock in a research note on Monday, March 31st. Finally, DA Davidson decreased their price target on Trade Desk from $103.00 to $92.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Seven investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Trade Desk has an average rating of “Moderate Buy” and an average target price of $98.88.

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.