The Trade Desk, Inc. (NASDAQ:TTD) Shares Sold by Granite Group Advisors LLC

Granite Group Advisors LLC trimmed its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 17.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,768 shares of the technology company’s stock after selling 378 shares during the period. Granite Group Advisors LLC’s holdings in Trade Desk were worth $208,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CAP Partners LLC raised its holdings in Trade Desk by 1.4% in the third quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock valued at $702,000 after acquiring an additional 86 shares in the last quarter. RMR Wealth Builders grew its stake in Trade Desk by 0.8% in the fourth quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock worth $1,247,000 after purchasing an additional 89 shares in the last quarter. Allworth Financial LP raised its stake in Trade Desk by 2.7% during the third quarter. Allworth Financial LP now owns 3,738 shares of the technology company’s stock valued at $410,000 after buying an additional 97 shares in the last quarter. Parisi Gray Wealth Management lifted its holdings in Trade Desk by 2.2% during the 4th quarter. Parisi Gray Wealth Management now owns 4,534 shares of the technology company’s stock worth $533,000 after buying an additional 99 shares during the last quarter. Finally, Avior Wealth Management LLC increased its holdings in shares of Trade Desk by 37.7% in the 3rd quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock valued at $40,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TTD. UBS Group raised their price objective on Trade Desk from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Stifel Nicolaus lifted their price objective on shares of Trade Desk from $111.00 to $136.00 and gave the company a “buy” rating in a research report on Monday, October 14th. BTIG Research upped their price objective on shares of Trade Desk from $114.00 to $142.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Wolfe Research increased their price objective on shares of Trade Desk from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, StockNews.com cut Trade Desk from a “buy” rating to a “hold” rating in a report on Saturday, November 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.13.

Trade Desk Stock Performance

Trade Desk stock opened at $119.96 on Monday. The firm’s 50 day moving average price is $125.84 and its two-hundred day moving average price is $113.66. The firm has a market cap of $59.21 billion, a PE ratio of 196.66, a P/E/G ratio of 3.82 and a beta of 1.45. The Trade Desk, Inc. has a twelve month low of $66.56 and a twelve month high of $141.53.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.21). The firm had revenue of $628.02 million for the quarter, compared to analysts’ expectations of $619.89 million. Trade Desk had a return on equity of 13.17% and a net margin of 13.34%. During the same quarter in the prior year, the business posted $0.08 earnings per share. Equities analysts anticipate that The Trade Desk, Inc. will post 0.87 EPS for the current fiscal year.

Insider Activity

In related news, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction on Monday, December 30th. The shares were sold at an average price of $119.35, for a total value of $2,210,839.40. Following the completion of the sale, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey Terry Green sold 512,953 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $124.67, for a total transaction of $63,949,850.51. Following the transaction, the chief executive officer now directly owns 243,476 shares in the company, valued at $30,354,152.92. The trade was a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 549,684 shares of company stock worth $68,444,576 in the last three months. 9.72% of the stock is owned by insiders.

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.