Ithaka Group LLC Decreases Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Ithaka Group LLC lessened its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 4.4% during the 4th quarter, HoldingsChannel reports. The firm owned 107,894 shares of the technology company’s stock after selling 4,994 shares during the period. Trade Desk accounts for approximately 2.3% of Ithaka Group LLC’s portfolio, making the stock its 15th largest position. Ithaka Group LLC’s holdings in Trade Desk were worth $12,681,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TTD. Edgewood Management LLC raised its holdings in shares of Trade Desk by 133.3% in the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock worth $1,089,280,000 after buying an additional 5,675,571 shares during the period. Jennison Associates LLC increased its stake in Trade Desk by 11.0% in the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after buying an additional 2,013,047 shares during the period. Raymond James Financial Inc. purchased a new stake in Trade Desk in the 4th quarter valued at about $231,570,000. National Pension Service grew its stake in Trade Desk by 104.1% in the 4th quarter. National Pension Service now owns 1,264,985 shares of the technology company’s stock worth $148,674,000 after acquiring an additional 645,240 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Trade Desk by 55.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company’s stock valued at $169,892,000 after purchasing an additional 551,925 shares in the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Citizens Jmp upgraded Trade Desk to a “strong-buy” rating in a research note on Tuesday, January 21st. Wells Fargo & Company decreased their target price on shares of Trade Desk from $142.00 to $101.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Loop Capital cut their price target on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. StockNews.com cut shares of Trade Desk from a “buy” rating to a “hold” rating in a research note on Saturday, November 30th. Finally, Wolfe Research upped their target price on Trade Desk from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $119.45.

Trade Desk Stock Up 2.3 %

NASDAQ:TTD opened at $60.20 on Thursday. The company has a market cap of $29.86 billion, a price-to-earnings ratio of 77.18, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 52 week low of $57.86 and a 52 week high of $141.53. The company has a fifty day simple moving average of $101.57 and a two-hundred day simple moving average of $112.58.

Trade Desk (NASDAQ:TTD) last posted its quarterly 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 net margin of 16.08% and a return on equity of 16.38%. On average, analysts expect that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk announced that its board has authorized a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Trade Desk

In related news, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the transaction, the chief executive officer now owns 704,229 shares of the company’s stock, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the transaction, the insider now directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 41,029 shares of company stock valued at $5,004,296. Insiders own 9.72% of the company’s stock.

Trade Desk Company 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.