BI Asset Management Fondsmaeglerselskab A S Lowers Stake in The Trade Desk, Inc. (NASDAQ:TTD)

BI Asset Management Fondsmaeglerselskab A S lessened its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 71.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,570 shares of the technology company’s stock after selling 23,975 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Trade Desk were worth $837,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Trade Desk by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock valued at $3,003,666,000 after acquiring an additional 818,568 shares during the period. Jennison Associates LLC grew its position in Trade Desk by 91.7% during the fourth quarter. Jennison Associates LLC now owns 14,586,150 shares of the technology company’s stock valued at $1,049,619,000 after acquiring an additional 6,978,352 shares during the period. Norges Bank purchased a new stake in Trade Desk during the fourth quarter valued at about $255,316,000. Goldman Sachs Group Inc. grew its position in Trade Desk by 10.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,214,832 shares of the technology company’s stock valued at $159,379,000 after acquiring an additional 209,222 shares during the period. Finally, ARK Investment Management LLC grew its position in Trade Desk by 1,162.0% during the fourth quarter. ARK Investment Management LLC now owns 2,149,654 shares of the technology company’s stock valued at $154,689,000 after acquiring an additional 1,979,319 shares during the period. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Insider Activity

In related news, insider Jay R. Grant sold 141,434 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $97.42, for a total transaction of $13,778,500.28. Following the completion of the sale, the insider now directly owns 188,236 shares in the company, valued at $18,337,951.12. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Trade Desk news, CFO Laura Schenkein sold 43,705 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $95.38, for a total transaction of $4,168,582.90. Following the transaction, the chief financial officer now directly owns 703,038 shares in the company, valued at $67,055,764.44. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jay R. Grant sold 141,434 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $97.42, for a total value of $13,778,500.28. Following the transaction, the insider now owns 188,236 shares in the company, valued at $18,337,951.12. The disclosure for this sale can be found here. Insiders sold 340,154 shares of company stock worth $31,128,226 over the last quarter. Corporate insiders own 10.18% of the company’s stock.

Trade Desk Price Performance

Shares of TTD traded down $2.28 during trading hours on Wednesday, hitting $99.24. 1,760,710 shares of the company were exchanged, compared to its average volume of 4,146,214. The company has a market capitalization of $48.54 billion, a PE ratio of 253.81, a PEG ratio of 5.07 and a beta of 1.48. The firm has a fifty day simple moving average of $94.57 and a 200-day simple moving average of $83.64. The Trade Desk, Inc. has a one year low of $60.23 and a one year high of $102.67.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. The business had revenue of $491.25 million during the quarter, compared to analyst estimates of $480.03 million. Trade Desk had a return on equity of 9.41% and a net margin of 9.80%. Sell-side analysts expect that The Trade Desk, Inc. will post 0.85 EPS for the current year.

Wall Street Analysts Forecast Growth

TTD has been the subject of several analyst reports. Truist Financial reaffirmed a “buy” rating and issued a $105.00 target price on shares of Trade Desk in a research report on Thursday, May 16th. Loop Capital upped their target price on Trade Desk from $102.00 to $109.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Trade Desk in a report on Tuesday. DA Davidson upped their price objective on Trade Desk from $95.00 to $104.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Finally, Wedbush assumed coverage on Trade Desk in a research note on Monday, June 17th. They set an “outperform” rating and a $110.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Trade Desk presently has an average rating of “Moderate Buy” and an average target price of $93.69.

About Trade Desk

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.