Riverbridge Partners LLC Trims Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Riverbridge Partners LLC trimmed its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 19.5% in the 4th quarter, HoldingsChannel reports. The firm owned 350,704 shares of the technology company’s stock after selling 85,032 shares during the quarter. Riverbridge Partners LLC’s holdings in Trade Desk were worth $41,218,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. AE Wealth Management LLC lifted its holdings in Trade Desk by 3.9% in the second quarter. AE Wealth Management LLC now owns 4,176 shares of the technology company’s stock worth $408,000 after buying an additional 155 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Trade Desk by 58.7% in the 2nd quarter. Pacer Advisors Inc. now owns 48,876 shares of the technology company’s stock valued at $4,774,000 after purchasing an additional 18,087 shares during the period. Sei Investments Co. boosted its position in shares of Trade Desk by 19.9% during the second quarter. Sei Investments Co. now owns 295,240 shares of the technology company’s stock valued at $28,836,000 after purchasing an additional 49,052 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Trade Desk by 19.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,090 shares of the technology company’s stock worth $98,000 after purchasing an additional 176 shares during the period. Finally, Bank of Montreal Can raised its holdings in Trade Desk by 60.8% in the second quarter. Bank of Montreal Can now owns 644,779 shares of the technology company’s stock worth $63,143,000 after purchasing an additional 243,771 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

Insider Buying and Selling

In related news, insider Jay R. Grant sold 18,524 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total value of $2,283,886.08. Following the completion of the sale, the chief executive officer now directly owns 704,229 shares in the company, valued at approximately $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 insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TTD shares. Loop Capital increased their price target on shares of Trade Desk from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Macquarie upped their price target on Trade Desk from $133.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Oppenheimer raised their price target on Trade Desk from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Citigroup upped their price target on shares of Trade Desk from $115.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Scotiabank initiated coverage on shares of Trade Desk in a research report on Thursday, December 5th. They set a “sector perform” rating and a $133.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.13.

Trade Desk Price Performance

TTD opened at $120.69 on Thursday. The firm has a market cap of $59.57 billion, a P/E ratio of 197.85, a PEG ratio of 3.94 and a beta of 1.45. The Trade Desk, Inc. has a 1-year low of $66.56 and a 1-year high of $141.53. The company has a 50 day simple moving average of $125.93 and a two-hundred day simple moving average of $113.29.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported $0.19 earnings per share (EPS) 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 company posted $0.08 EPS. Equities analysts anticipate that The Trade Desk, Inc. will post 0.87 earnings per share for the current year.

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.