The Trade Desk, Inc. (NASDAQ:TTD) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD reduced its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 65.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,279,299 shares of the technology company’s stock after selling 4,366,266 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Trade Desk were worth $199,258,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Steel Grove Capital Advisors LLC acquired a new stake in Trade Desk during the first quarter worth about $247,000. Lazard Asset Management LLC increased its stake in Trade Desk by 1.4% during the first quarter. Lazard Asset Management LLC now owns 12,755 shares of the technology company’s stock worth $1,114,000 after acquiring an additional 171 shares during the last quarter. LRI Investments LLC acquired a new stake in Trade Desk during the first quarter worth about $261,000. 1832 Asset Management L.P. acquired a new stake in shares of Trade Desk in the first quarter valued at about $225,710,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Trade Desk in the first quarter valued at about $25,091,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TTD shares. Loop Capital increased their target price on Trade Desk from $102.00 to $109.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. Truist Financial reiterated a “buy” rating and issued a $105.00 target price on shares of Trade Desk in a research note on Thursday, May 16th. Jefferies Financial Group upgraded Trade Desk from a “hold” rating to a “buy” rating and increased their target price for the company from $95.00 to $105.00 in a research note on Thursday, May 2nd. Morgan Stanley increased their target price on Trade Desk from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Trade Desk in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $100.59.

Trade Desk Stock Performance

Shares of Trade Desk stock traded down $0.82 during trading hours on Monday, reaching $91.61. The company’s stock had a trading volume of 681,669 shares, compared to its average volume of 4,112,137. The company’s 50 day simple moving average is $96.63 and its 200 day simple moving average is $86.04. The Trade Desk, Inc. has a one year low of $60.23 and a one year high of $102.67. The stock has a market cap of $44.81 billion, a P/E ratio of 232.08, a price-to-earnings-growth ratio of 4.73 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. Trade Desk had a net margin of 9.80% and a return on equity of 9.41%. The company had revenue of $491.25 million for the quarter, compared to the consensus estimate of $480.03 million. On average, sell-side analysts predict that The Trade Desk, Inc. will post 0.85 earnings per share for the current fiscal year.

Insider Transactions at Trade Desk

In related news, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $98.37, for a total value of $133,291.35. Following the sale, the director now directly owns 32,701 shares in the company, valued at approximately $3,216,797.37. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $98.37, for a total value of $133,291.35. Following the sale, the director now directly owns 32,701 shares in the company, valued at approximately $3,216,797.37. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Laura Schenkein sold 43,705 shares of Trade Desk stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $95.38, for a total transaction of $4,168,582.90. Following the completion of the sale, the chief financial officer now owns 703,038 shares in the company, valued at $67,055,764.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 213,909 shares of company stock worth $20,827,601. 10.18% of the stock is currently owned by insiders.

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.