Primecap Management Co. CA Decreases Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Primecap Management Co. CA cut its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 37.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 213,400 shares of the technology company’s stock after selling 127,000 shares during the period. Primecap Management Co. CA’s holdings in Trade Desk were worth $25,081,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Nikko Asset Management Americas Inc. boosted its holdings in Trade Desk by 10.3% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 807,479 shares of the technology company’s stock worth $94,863,000 after buying an additional 75,199 shares during the period. IMG Wealth Management Inc. bought a new position in Trade Desk in the 4th quarter worth $97,000. GWN Securities Inc. bought a new position in Trade Desk in the 4th quarter worth $469,000. Glenview Trust co boosted its holdings in Trade Desk by 13.4% in the 4th quarter. Glenview Trust co now owns 2,575 shares of the technology company’s stock worth $303,000 after buying an additional 305 shares during the period. Finally, Centurion Wealth Management LLC boosted its holdings in Trade Desk by 2.6% in the 4th quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company’s stock worth $443,000 after buying an additional 96 shares during the period. Institutional investors own 67.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on TTD shares. Scotiabank dropped their price objective on shares of Trade Desk from $133.00 to $83.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. BMO Capital Markets dropped their price objective on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Stifel Nicolaus dropped their price objective on shares of Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Oppenheimer dropped their price objective on shares of Trade Desk from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Finally, JMP Securities dropped their price objective on shares of Trade Desk from $150.00 to $115.00 and set a “market outperform” rating for the company in a report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $116.41.

Insider Activity

In other news, insider Jay R. Grant sold 18,524 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. This trade 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 stock in a transaction that occurred 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 transaction, the insider now owns 90,709 shares in the company, valued at approximately $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. Over the last ninety days, insiders have sold 41,029 shares of company stock worth $5,004,296. Corporate insiders own 9.72% of the company’s stock.

Trade Desk Price Performance

Shares of TTD stock opened at $55.32 on Thursday. The company has a market capitalization of $27.44 billion, a P/E ratio of 70.92, a P/E/G ratio of 3.11 and a beta of 1.63. The company’s 50-day simple moving average is $93.70 and its two-hundred day simple moving average is $110.50. The Trade Desk, Inc. has a one year low of $53.39 and a one year high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS 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%. On average, research analysts expect 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 plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Trade Desk Profile

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.