Plato Investment Management Ltd Reduces Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Plato Investment Management Ltd trimmed its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 14.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,443 shares of the technology company’s stock after selling 3,027 shares during the quarter. Plato Investment Management Ltd’s holdings in Trade Desk were worth $2,058,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Focus Financial Network Inc. boosted its stake in Trade Desk by 2.2% in the fourth quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock valued at $456,000 after acquiring an additional 84 shares during the last quarter. CAP Partners LLC boosted its stake in Trade Desk by 1.4% in the third quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock valued at $702,000 after acquiring an additional 86 shares during the last quarter. RMR Wealth Builders boosted its stake in Trade Desk by 0.8% in the fourth quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock valued at $1,247,000 after acquiring an additional 89 shares during the last quarter. Quotient Wealth Partners LLC boosted its stake in Trade Desk by 4.2% in the fourth quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock valued at $276,000 after acquiring an additional 94 shares during the last quarter. Finally, TFB Advisors LLC lifted its stake in shares of Trade Desk by 2.6% during the 4th quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock valued at $442,000 after buying an additional 94 shares in the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trade Desk

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

Trade Desk Stock Performance

TTD stock opened at $67.17 on Tuesday. The Trade Desk, Inc. has a 52 week low of $66.82 and a 52 week high of $141.53. The firm’s fifty day moving average is $109.60 and its 200 day moving average is $114.47. The firm has a market cap of $33.32 billion, a P/E ratio of 86.12, a P/E/G ratio of 3.11 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last released its earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. As a group, analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk announced that its board has approved a stock buyback program on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in shares. This repurchase authorization authorizes the technology company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Wolfe Research upped their price target on shares of Trade Desk from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Benchmark restated a “sell” rating and set a $57.00 price target on shares of Trade Desk in a research note on Friday, November 8th. Piper Sandler restated an “overweight” rating and set a $110.00 price target (down from $140.00) on shares of Trade Desk in a research note on Thursday, February 13th. Robert W. Baird dropped their price target on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Finally, Wells Fargo & Company dropped their price target on shares of Trade Desk from $142.00 to $101.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Trade Desk has an average rating of “Moderate Buy” and an average target price of $119.45.

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.