Intech Investment Management LLC Lowers Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Intech Investment Management LLC cut its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 6.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,411 shares of the technology company’s stock after selling 1,418 shares during the quarter. Intech Investment Management LLC’s holdings in Trade Desk were worth $1,959,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jennison Associates LLC lifted its holdings in shares of Trade Desk by 91.7% in the 4th quarter. Jennison Associates LLC now owns 14,586,150 shares of the technology company’s stock worth $1,049,619,000 after buying an additional 6,978,352 shares during the period. Norges Bank bought a new position in Trade Desk during the 4th quarter worth about $255,316,000. ARK Investment Management LLC increased its position in Trade Desk by 1,162.0% during the 4th quarter. ARK Investment Management LLC now owns 2,149,654 shares of the technology company’s stock valued at $154,689,000 after purchasing an additional 1,979,319 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Trade Desk by 6,600.0% in the 4th quarter. International Assets Investment Management LLC now owns 1,091,561 shares of the technology company’s stock valued at $78,549,000 after purchasing an additional 1,075,269 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Trade Desk by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock worth $3,003,666,000 after purchasing an additional 818,568 shares during the period. Institutional investors own 67.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on TTD shares. Susquehanna restated a “positive” rating and set a $110.00 target price on shares of Trade Desk in a report on Thursday, May 16th. Loop Capital raised their price objective on Trade Desk from $102.00 to $109.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. Oppenheimer boosted their target price on shares of Trade Desk from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Stifel Nicolaus raised their price target on shares of Trade Desk from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Trade Desk in a research report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.72.

Trade Desk Price Performance

TTD stock traded up $0.29 during midday trading on Friday, hitting $96.01. 2,093,312 shares of the stock traded hands, compared to its average volume of 3,082,399. The Trade Desk, Inc. has a 1-year low of $60.23 and a 1-year high of $102.67. The stock’s fifty day simple moving average is $96.19 and its 200-day simple moving average is $85.00. The firm has a market cap of $46.96 billion, a P/E ratio of 240.03, a PEG ratio of 4.92 and a beta of 1.48.

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

Insider Buying and Selling

In related news, CFO Laura Schenkein sold 25,000 shares of Trade Desk stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $100.43, for a total value of $2,510,750.00. Following the sale, the chief financial officer now directly owns 703,038 shares in the company, valued at approximately $70,606,106.34. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Gokul Rajaram sold 2,415 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $97.92, for a total value of $236,476.80. Following the completion of the sale, the director now directly owns 34,056 shares in the company, valued at $3,334,763.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Laura Schenkein sold 25,000 shares of the business’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $100.43, for a total transaction of $2,510,750.00. Following the transaction, the chief financial officer now owns 703,038 shares in the company, valued at $70,606,106.34. The disclosure for this sale can be found here. Insiders sold a total of 362,554 shares of company stock worth $33,414,310 in the last 90 days. Insiders own 10.18% of the company’s stock.

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.