DAVENPORT & Co LLC Sells 334 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

DAVENPORT & Co LLC lessened its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 7.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,327 shares of the technology company’s stock after selling 334 shares during the period. DAVENPORT & Co LLC’s holdings in Trade Desk were worth $509,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Ithaka Group LLC boosted its holdings in shares of Trade Desk by 4.5% in the 3rd quarter. Ithaka Group LLC now owns 112,888 shares of the technology company’s stock valued at $12,378,000 after purchasing an additional 4,836 shares in the last quarter. Venture Visionary Partners LLC boosted its holdings in shares of Trade Desk by 33.0% in the 3rd quarter. Venture Visionary Partners LLC now owns 17,308 shares of the technology company’s stock valued at $1,898,000 after purchasing an additional 4,296 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Trade Desk by 36.2% during the 4th quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock valued at $159,132,000 after acquiring an additional 358,350 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Trade Desk by 2,461.2% during the 3rd quarter. Assetmark Inc. now owns 73,559 shares of the technology company’s stock valued at $8,066,000 after acquiring an additional 70,687 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Trade Desk by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,321,400 shares of the technology company’s stock valued at $144,892,000 after acquiring an additional 4,500 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Performance

Shares of TTD opened at $117.29 on Friday. The stock has a 50 day moving average price of $124.40 and a two-hundred day moving average price of $114.68. The firm has a market capitalization of $57.89 billion, a P/E ratio of 192.28, a P/E/G ratio of 3.75 and a beta of 1.45. The Trade Desk, Inc. has a 52 week low of $68.65 and a 52 week high of $141.53.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, November 7th. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.21). Trade Desk had a return on equity of 13.17% and a net margin of 13.34%. The business had revenue of $628.02 million during the quarter, compared to analysts’ expectations of $619.89 million. During the same quarter in the previous year, the firm earned $0.08 EPS. On average, equities analysts forecast that The Trade Desk, Inc. will post 0.87 earnings per share for the current year.

Insider Transactions at Trade Desk

In related news, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the transaction, the insider now owns 169,464 shares in the company, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the sale, the insider now directly owns 90,709 shares in the company, valued at $10,754,459.04. The trade was a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock worth $5,004,296 in the last 90 days. Insiders own 9.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Royal Bank of Canada raised their price objective on Trade Desk from $136.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Robert W. Baird raised their price objective on Trade Desk from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Scotiabank assumed coverage on Trade Desk in a report on Thursday, December 5th. They set a “sector perform” rating and a $133.00 price objective on the stock. Citizens Jmp raised Trade Desk to a “strong-buy” rating in a report on Tuesday, January 21st. Finally, Evercore ISI raised their price objective on Trade Desk from $110.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $133.13.

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.