Los Angeles Capital Management LLC Lowers Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Los Angeles Capital Management LLC cut its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 2.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 516,973 shares of the technology company’s stock after selling 15,514 shares during the period. Los Angeles Capital Management LLC’s holdings in Trade Desk were worth $60,760,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. purchased a new position in Trade Desk during the third quarter worth about $240,000. Allworth Financial LP increased its holdings in shares of Trade Desk by 2.7% in the 3rd quarter. Allworth Financial LP now owns 3,738 shares of the technology company’s stock valued at $410,000 after acquiring an additional 97 shares during the last quarter. Forsta AP Fonden boosted its holdings in shares of Trade Desk by 11.8% in the 3rd quarter. Forsta AP Fonden now owns 91,600 shares of the technology company’s stock valued at $10,044,000 after buying an additional 9,700 shares in the last quarter. NorthCrest Asset Manangement LLC acquired a new stake in Trade Desk during the 3rd quarter worth $317,000. Finally, Arkadios Wealth Advisors acquired a new stake in Trade Desk during the 3rd quarter worth $302,000. 67.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Macquarie lifted their price objective on shares of Trade Desk from $133.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and set a $110.00 price objective (down previously from $140.00) on shares of Trade Desk in a report on Thursday, February 13th. BTIG Research upped their price target on shares of Trade Desk from $114.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. UBS Group upped their price objective on shares of Trade Desk from $116.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Finally, Truist Financial reduced their price objective on shares of Trade Desk from $155.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $119.45.

Insiders Place Their Bets

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the sale, the insider now directly owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock worth $5,004,296 over the last 90 days. Corporate insiders own 9.72% of the company’s stock.

Trade Desk Trading Up 3.0 %

Shares of TTD stock opened at $74.20 on Tuesday. The Trade Desk, Inc. has a 1 year low of $70.44 and a 1 year high of $141.53. The firm’s fifty day simple moving average is $114.10 and its 200 day simple moving average is $115.21. The firm has a market capitalization of $36.62 billion, a P/E ratio of 95.13, a price-to-earnings-growth ratio of 3.11 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. Equities research analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

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.