The Trade Desk, Inc. (NASDAQ:TTD) Shares Sold by Avalon Capital Management

Avalon Capital Management lessened its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 1.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,100 shares of the technology company’s stock after selling 174 shares during the quarter. Avalon Capital Management’s holdings in Trade Desk were worth $1,540,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Edgewood Management LLC increased its position in Trade Desk by 133.3% during the 3rd quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock worth $1,089,280,000 after purchasing an additional 5,675,571 shares in the last quarter. Jennison Associates LLC grew its holdings in Trade Desk by 11.0% in the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock valued at $2,228,172,000 after buying an additional 2,013,047 shares during the period. Baillie Gifford & Co. grew its holdings in Trade Desk by 4.7% in the 3rd quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock valued at $4,245,218,000 after buying an additional 1,720,650 shares during the period. Wellington Management Group LLP grew its holdings in shares of Trade Desk by 55.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company’s stock worth $169,892,000 after purchasing an additional 551,925 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Trade Desk by 1,809.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 444,616 shares of the technology company’s stock worth $48,752,000 after purchasing an additional 421,333 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Insider Activity at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s 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 owns 704,229 shares in the company, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the transaction, the insider now owns 169,464 shares of the company’s stock, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,029 shares of company stock worth $5,004,296 in the last 90 days. 9.72% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

TTD has been the topic of several recent research reports. Wells Fargo & Company reduced their price target on Trade Desk from $142.00 to $101.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. UBS Group boosted their price target on Trade Desk from $116.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Piper Sandler reissued an “overweight” rating and set a $110.00 price target (down from $140.00) on shares of Trade Desk in a research report on Thursday, February 13th. Morgan Stanley reduced their price target on Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Finally, Robert W. Baird reduced their price target on Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $119.45.

Trade Desk Price Performance

Shares of TTD stock opened at $74.20 on Tuesday. The firm has a market cap of $36.62 billion, a P/E ratio of 95.13, a PEG ratio of 3.11 and a beta of 1.45. The stock’s 50-day moving average is $114.10 and its two-hundred day moving average is $115.21. The Trade Desk, Inc. has a fifty-two week low of $70.44 and a fifty-two week high of $141.53.

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

Trade Desk announced that its board has authorized a share buyback plan on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.