The Trade Desk, Inc. (NASDAQ:TTD) Position Cut by Edgewood Management LLC

Edgewood Management LLC decreased its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 4.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,508,940 shares of the technology company’s stock after selling 425,216 shares during the quarter. Trade Desk comprises about 3.2% of Edgewood Management LLC’s investment portfolio, making the stock its 21st largest holding. Edgewood Management LLC owned about 1.93% of Trade Desk worth $1,117,586,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in shares of Trade Desk during the fourth quarter valued at approximately $524,187,000. Raymond James Financial Inc. bought a new stake in Trade Desk during the 4th quarter valued at $231,570,000. Franklin Resources Inc. boosted its position in Trade Desk by 265.9% during the 4th quarter. Franklin Resources Inc. now owns 1,864,386 shares of the technology company’s stock worth $219,121,000 after acquiring an additional 1,354,891 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of Trade Desk in the fourth quarter worth $100,658,000. Finally, National Pension Service grew its stake in shares of Trade Desk by 104.1% in the fourth quarter. National Pension Service now owns 1,264,985 shares of the technology company’s stock worth $148,674,000 after purchasing an additional 645,240 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TTD. Morgan Stanley reduced their price objective on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Jefferies Financial Group reduced their price target on shares of Trade Desk from $120.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday. Truist Financial decreased their price objective on shares of Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Evercore ISI cut Trade Desk from an “outperform” rating to an “inline” rating and dropped their target price for the stock from $135.00 to $90.00 in a report on Thursday, February 13th. Finally, Susquehanna decreased their price target on Trade Desk from $150.00 to $135.00 and set a “positive” 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $114.38.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total value of $2,283,886.08. Following the sale, the chief executive officer now directly owns 704,229 shares in the company, valued at $88,338,485.76. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the transaction, the insider now directly owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.72% of the company’s stock.

Trade Desk Price Performance

TTD stock opened at $46.24 on Friday. The stock has a market capitalization of $22.94 billion, a price-to-earnings ratio of 59.28, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56. The company has a 50-day moving average of $78.11 and a two-hundred day moving average of $106.55. The Trade Desk, Inc. has a 52-week low of $45.02 and a 52-week high of $141.53.

Trade Desk (NASDAQ:TTD) last announced its earnings results 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%. Equities 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 approved a stock repurchase program on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.