The Trade Desk, Inc. (NASDAQ:TTD) Stock Position Reduced by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 14.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 368,456 shares of the technology company’s stock after selling 59,932 shares during the period. New York State Common Retirement Fund owned 0.08% of Trade Desk worth $26,514,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Baron Wealth Management LLC acquired a new stake in shares of Trade Desk during the third quarter worth $270,000. DAVENPORT & Co LLC raised its position in shares of Trade Desk by 28.4% during the third quarter. DAVENPORT & Co LLC now owns 4,005 shares of the technology company’s stock worth $313,000 after purchasing an additional 886 shares during the period. Asset Management One Co. Ltd. raised its position in shares of Trade Desk by 27.7% during the third quarter. Asset Management One Co. Ltd. now owns 219,832 shares of the technology company’s stock worth $17,180,000 after purchasing an additional 47,641 shares during the period. Cannon Global Investment Management LLC acquired a new stake in shares of Trade Desk during the third quarter worth $234,000. Finally, Linden Thomas Advisory Services LLC raised its position in shares of Trade Desk by 40.1% during the third quarter. Linden Thomas Advisory Services LLC now owns 19,128 shares of the technology company’s stock worth $1,495,000 after purchasing an additional 5,479 shares during the period. Institutional investors own 67.77% of the company’s stock.

Insider Transactions at Trade Desk

In related news, insider Samantha Jacobson sold 15,006 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $83.57, for a total transaction of $1,254,051.42. Following the completion of the transaction, the insider now owns 52,387 shares of the company’s stock, valued at approximately $4,377,981.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Jay R. Grant sold 2,136 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $89.53, for a total transaction of $191,236.08. Following the completion of the transaction, the insider now owns 139,794 shares of the company’s stock, valued at approximately $12,515,756.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Samantha Jacobson sold 15,006 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $83.57, for a total value of $1,254,051.42. Following the transaction, the insider now directly owns 52,387 shares of the company’s stock, valued at approximately $4,377,981.59. The disclosure for this sale can be found here. In the last quarter, insiders sold 492,170 shares of company stock worth $41,250,398. 10.18% of the stock is owned by corporate insiders.

Trade Desk Stock Performance

TTD opened at $84.73 on Friday. The company has a market cap of $41.43 billion, a PE ratio of 235.37, a price-to-earnings-growth ratio of 4.59 and a beta of 1.50. The stock has a 50-day moving average of $83.55 and a 200-day moving average of $75.73. The Trade Desk, Inc. has a 52-week low of $60.23 and a 52-week high of $94.00.

Trade Desk (NASDAQ:TTD) last released its quarterly 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 company had revenue of $605.80 million for the quarter, compared to the consensus estimate of $582.61 million. Trade Desk had a return on equity of 8.59% and a net margin of 9.19%. On average, research analysts predict that The Trade Desk, Inc. will post 0.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TTD has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their target price on Trade Desk from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Seaport Res Ptn reissued a “neutral” rating on shares of Trade Desk in a research report on Monday, February 12th. Susquehanna upped their price target on Trade Desk from $75.00 to $110.00 and gave the company a “positive” rating in a research report on Friday, February 16th. BTIG Research upped their price target on Trade Desk from $91.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Finally, Wells Fargo & Company upped their price target on Trade Desk from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.75.

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.