Ashford Capital Management Inc. Sells 14,490 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Ashford Capital Management Inc. lessened its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 7.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 185,811 shares of the technology company’s stock after selling 14,490 shares during the quarter. Trade Desk makes up approximately 2.6% of Ashford Capital Management Inc.’s investment portfolio, making the stock its 17th largest holding. Ashford Capital Management Inc.’s holdings in Trade Desk were worth $21,838,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TTD. Assenagon Asset Management S.A. boosted its position in shares of Trade Desk by 276.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company’s stock valued at $8,255,000 after purchasing an additional 51,603 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Trade Desk by 32.2% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 2,898 shares of the technology company’s stock worth $341,000 after buying an additional 706 shares in the last quarter. Avanza Fonder AB acquired a new stake in shares of Trade Desk during the 4th quarter worth approximately $1,117,000. Merit Financial Group LLC increased its stake in shares of Trade Desk by 16.8% in the 4th quarter. Merit Financial Group LLC now owns 6,870 shares of the technology company’s stock valued at $807,000 after acquiring an additional 989 shares in the last quarter. Finally, Arkadios Wealth Advisors lifted its position in shares of Trade Desk by 37.3% during the 4th quarter. Arkadios Wealth Advisors now owns 3,778 shares of the technology company’s stock valued at $444,000 after acquiring an additional 1,027 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Citigroup lifted their price target on shares of Trade Desk from $63.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Wells Fargo & Company decreased their target price on Trade Desk from $101.00 to $72.00 and set an “overweight” rating for the company in a research report on Monday, March 31st. BMO Capital Markets cut their price target on Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Evercore ISI downgraded Trade Desk from an “outperform” rating to an “inline” rating and decreased their price objective for the company from $135.00 to $90.00 in a report on Thursday, February 13th. Finally, HSBC set a $75.00 target price on Trade Desk and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $97.12.

Insider Transactions at Trade Desk

In related news, Director David B. Wells sold 28,638 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the sale, the director now owns 66,985 shares of the company’s stock, valued at approximately $5,350,761.80. This represents a 29.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 26,684 shares of Trade Desk stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $80.03, for a total value of $2,135,520.52. Following the transaction, 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 position. The disclosure for this sale can be found here. Corporate insiders own 9.74% of the company’s stock.

Trade Desk Price Performance

Shares of TTD opened at $76.32 on Tuesday. The Trade Desk, Inc. has a 1 year low of $42.96 and a 1 year high of $141.53. The stock’s fifty day moving average price is $56.44 and its two-hundred day moving average price is $93.21. The firm has a market cap of $37.86 billion, a PE ratio of 97.85, a PEG ratio of 3.11 and a beta of 1.29.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. The business had revenue of $616.02 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the business posted $0.26 EPS. Sell-side 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 approved a share repurchase plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.