New York State Common Retirement Fund Has $30.54 Million Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

New York State Common Retirement Fund cut its position in The Trade Desk, Inc. (NASDAQ:TTD) by 13.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 278,562 shares of the technology company’s stock after selling 42,443 shares during the quarter. New York State Common Retirement Fund’s holdings in Trade Desk were worth $30,544,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. 1832 Asset Management L.P. grew its position in shares of Trade Desk by 10.5% in the second quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock valued at $278,623,000 after purchasing an additional 270,800 shares during the last quarter. Jericho Capital Asset Management L.P. raised its position in Trade Desk by 4.3% in the first quarter. Jericho Capital Asset Management L.P. now owns 2,419,355 shares of the technology company’s stock valued at $211,500,000 after purchasing an additional 100,000 shares during the last quarter. Marshall Wace LLP raised its holdings in Trade Desk by 100.2% in the 2nd quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock valued at $170,275,000 after buying an additional 872,555 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Trade Desk by 12.3% during the second quarter. Victory Capital Management Inc. now owns 1,629,478 shares of the technology company’s stock valued at $159,151,000 after acquiring an additional 177,832 shares during the last quarter. Finally, TD Asset Management Inc lifted its holdings in Trade Desk by 10.7% during the 2nd quarter. TD Asset Management Inc now owns 1,592,578 shares of the technology company’s stock worth $155,547,000 after buying an additional 153,748 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $117.89, for a total transaction of $159,740.95. Following the completion of the transaction, the director now directly owns 28,636 shares in the company, valued at approximately $3,375,898.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $117.89, for a total value of $159,740.95. Following the transaction, the director now directly owns 28,636 shares in the company, valued at $3,375,898.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Laura Schenkein sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $115.43, for a total transaction of $2,885,750.00. Following the completion of the transaction, the chief financial officer now directly owns 693,953 shares in the company, valued at approximately $80,102,994.79. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,557,897 shares of company stock worth $170,121,565 in the last quarter. 9.72% of the stock is owned by company insiders.

Trade Desk Price Performance

TTD opened at $119.19 on Monday. The Trade Desk, Inc. has a 1 year low of $60.23 and a 1 year high of $123.85. The stock’s 50 day simple moving average is $110.78 and its 200 day simple moving average is $99.58. The firm has a market cap of $58.59 billion, a price-to-earnings ratio of 238.38, a PEG ratio of 5.78 and a beta of 1.47.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. The business had revenue of $584.55 million during the quarter, compared to analyst estimates of $578.03 million. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. Trade Desk’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.07 EPS. As a group, sell-side analysts anticipate that The Trade Desk, Inc. will post 0.86 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TTD. Loop Capital boosted their price target on shares of Trade Desk from $109.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Truist Financial increased their target price on shares of Trade Desk from $108.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Macquarie boosted their price objective on Trade Desk from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. Bank of America started coverage on shares of Trade Desk in a research note on Wednesday, September 4th. They issued a “buy” rating and a $135.00 target price on the stock. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $110.00 price target on shares of Trade Desk in a research note on Monday, October 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $115.60.

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.