Mackenzie Financial Corp Reduces Position in The Trade Desk, Inc. (NASDAQ:TTD)

Mackenzie Financial Corp lessened its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,923 shares of the technology company’s stock after selling 548 shares during the quarter. Mackenzie Financial Corp’s holdings in Trade Desk were worth $2,009,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Strs Ohio raised its holdings in shares of Trade Desk by 10.8% during the fourth quarter. Strs Ohio now owns 524,948 shares of the technology company’s stock valued at $37,775,000 after acquiring an additional 51,064 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Trade Desk by 31.3% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,838,998 shares of the technology company’s stock valued at $132,334,000 after acquiring an additional 438,733 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in Trade Desk in the fourth quarter worth $2,555,000. Tennessee Valley Asset Management Partners bought a new position in Trade Desk in the fourth quarter worth $85,000. Finally, Wealth Effects LLC raised its holdings in Trade Desk by 12.7% in the fourth quarter. Wealth Effects LLC now owns 56,718 shares of the technology company’s stock worth $4,081,000 after purchasing an additional 6,373 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

Wall Street Analysts Forecast Growth

TTD has been the subject of a number of research reports. Wells Fargo & Company increased their price objective on Trade Desk from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, January 17th. Oppenheimer increased their price objective on Trade Desk from $85.00 to $105.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Stephens reiterated an “overweight” rating and issued a $85.00 price objective on shares of Trade Desk in a report on Friday, February 16th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of Trade Desk in a report on Thursday, March 21st. Finally, BMO Capital Markets increased their target price on Trade Desk from $88.00 to $107.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat, Trade Desk has an average rating of “Moderate Buy” and an average price target of $89.75.

Insiders Place Their Bets

In other news, CEO Jeffrey Terry Green sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $81.77, for a total value of $6,132,750.00. Following the transaction, the chief executive officer now owns 1,551,987 shares of the company’s stock, valued at $126,905,976.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Jay R. Grant sold 2,136 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $89.53, for a total value of $191,236.08. Following the transaction, the insider now owns 139,794 shares of the company’s stock, valued at $12,515,756.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 75,000 shares of Trade Desk stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $81.77, for a total value of $6,132,750.00. Following the sale, the chief executive officer now directly owns 1,551,987 shares in the company, valued at approximately $126,905,976.99. The disclosure for this sale can be found here. Over the last three months, insiders have sold 492,170 shares of company stock valued at $41,250,398. Insiders own 10.18% of the company’s stock.

Trade Desk Stock Performance

Shares of NASDAQ:TTD opened at $81.07 on Wednesday. The stock has a market capitalization of $39.64 billion, a price-to-earnings ratio of 225.20, a PEG ratio of 4.29 and a beta of 1.50. The stock’s 50-day simple moving average is $83.05 and its two-hundred day simple moving average is $75.63. The Trade Desk, Inc. has a 52-week low of $59.36 and a 52-week high of $94.00.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, February 15th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.05). The firm had revenue of $605.80 million during the quarter, compared to analysts’ expectations of $582.61 million. Trade Desk had a return on equity of 8.59% and a net margin of 9.19%. As a group, equities analysts forecast that The Trade Desk, Inc. will post 0.79 earnings per share for the current fiscal year.

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.