Handelsbanken Fonder AB Has $10.48 Million Position in The Trade Desk, Inc. (NASDAQ:TTD)

Handelsbanken Fonder AB reduced its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 8.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 191,456 shares of the technology company’s stock after selling 18,188 shares during the period. Handelsbanken Fonder AB’s holdings in Trade Desk were worth $10,476,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Trade Desk by 0.6% in the fourth 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. Invesco Ltd. boosted its position in Trade Desk by 2.6% in the fourth quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company’s stock valued at $930,477,000 after buying an additional 198,822 shares in the last quarter. Norges Bank acquired a new position in Trade Desk in the fourth quarter valued at about $524,187,000. FMR LLC boosted its position in Trade Desk by 44.8% in the fourth quarter. FMR LLC now owns 3,788,285 shares of the technology company’s stock valued at $445,237,000 after buying an additional 1,172,082 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in Trade Desk by 13.2% in the fourth quarter. Bank of America Corp DE now owns 3,591,849 shares of the technology company’s stock valued at $422,150,000 after buying an additional 418,911 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on TTD. Stifel Nicolaus dropped their target price on shares of Trade Desk from $122.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Oppenheimer boosted their target price on shares of Trade Desk from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, May 9th. Piper Sandler boosted their target price on shares of Trade Desk from $55.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. JMP Securities dropped their target price on shares of Trade Desk from $115.00 to $100.00 and set a “market outperform” rating for the company in a research note on Friday, May 9th. Finally, Truist Financial boosted their target price on shares of Trade Desk from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Seven analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $97.15.

Trade Desk Stock Performance

Shares of NASDAQ:TTD opened at $70.57 on Friday. The Trade Desk, Inc. has a 52 week low of $42.96 and a 52 week high of $141.53. The company has a market capitalization of $34.68 billion, a PE ratio of 90.47, a PEG ratio of 3.11 and a beta of 1.41. The company has a 50 day moving average price of $63.27 and a two-hundred day moving average price of $87.31.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.07. The company had revenue of $616.02 million during the quarter, compared to analysts’ expectations of $575.62 million. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The business’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.26 earnings per share. On average, sell-side analysts forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Insider Activity

In related news, Director David B. Wells sold 28,638 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the completion of the transaction, the director now owns 66,985 shares in the company, valued at approximately $5,350,761.80. This represents a 29.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey Terry Green sold 26,684 shares of the 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 transaction, the chief executive officer now 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 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.