California Public Employees Retirement System Sells 61,732 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

California Public Employees Retirement System cut its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 8.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 705,065 shares of the technology company’s stock after selling 61,732 shares during the quarter. California Public Employees Retirement System’s holdings in Trade Desk were worth $82,866,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TTD. Rialto Wealth Management LLC acquired a new stake in Trade Desk during the fourth quarter worth approximately $26,000. Harbor Investment Advisory LLC lifted its position in shares of Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after acquiring an additional 117 shares during the period. Synergy Asset Management LLC acquired a new stake in shares of Trade Desk during the 4th quarter worth $34,000. Midwest Capital Advisors LLC bought a new position in shares of Trade Desk in the fourth quarter worth $34,000. Finally, Zions Bancorporation N.A. raised its stake in Trade Desk by 148.3% in the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after purchasing an additional 175 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TTD. Morgan Stanley reduced their price objective on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Wedbush increased their price target on shares of Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Cantor Fitzgerald lowered their price objective on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Stifel Nicolaus reduced their target price on Trade Desk from $144.00 to $122.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Oppenheimer lowered their price target on Trade Desk from $135.00 to $115.00 and set an “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 issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Trade Desk currently has an average rating of “Moderate Buy” and an average target price of $115.41.

Trade Desk Price Performance

Shares of TTD opened at $54.72 on Tuesday. The business has a 50-day moving average of $83.62 and a 200-day moving average of $108.07. The company has a market capitalization of $27.15 billion, a price-to-earnings ratio of 70.15, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 1 year low of $52.90 and a 1 year high of $141.53.

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

Trade Desk declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 12th that authorizes the company to buyback $564.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of the firm’s 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 completion of the sale, the insider now owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of the business’s 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 transaction, the chief executive officer now owns 704,229 shares in the company, 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. 9.72% of the stock is owned by company insiders.

Trade Desk Company 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.