Kornitzer Capital Management Inc. KS Has $11.23 Million Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Kornitzer Capital Management Inc. KS lessened its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 13.3% in the third quarter, HoldingsChannel reports. The fund owned 102,403 shares of the technology company’s stock after selling 15,675 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Trade Desk were worth $11,228,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in TTD. 1832 Asset Management L.P. bought a new stake in shares of Trade Desk in the first quarter valued at approximately $225,710,000. International Assets Investment Management LLC boosted its stake in shares of Trade Desk by 10,856.6% in the third quarter. International Assets Investment Management LLC now owns 1,572,820 shares of the technology company’s stock valued at $172,460,000 after buying an additional 1,558,465 shares during the period. Marshall Wace LLP boosted its stake in shares of Trade Desk by 100.2% in the second 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 period. Acadian Asset Management LLC boosted its stake in shares of Trade Desk by 3,973.6% in the second quarter. Acadian Asset Management LLC now owns 448,989 shares of the technology company’s stock valued at $43,836,000 after buying an additional 437,967 shares during the period. Finally, Steadfast Capital Management LP lifted its stake in Trade Desk by 78.3% during the first quarter. Steadfast Capital Management LP now owns 983,000 shares of the technology company’s stock worth $85,934,000 after purchasing an additional 431,600 shares during the last quarter. Institutional investors own 67.77% of the company’s stock.

Trade Desk Price Performance

TTD stock opened at $132.53 on Friday. The stock has a market capitalization of $65.15 billion, a PE ratio of 265.06, a price-to-earnings-growth ratio of 6.00 and a beta of 1.47. The company’s 50-day moving average is $112.41 and its 200-day moving average is $100.68. The Trade Desk, Inc. has a 1 year low of $60.23 and a 1 year high of $132.65.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The company had revenue of $584.55 million for the quarter, compared to analysts’ expectations of $578.03 million. During the same quarter in the prior year, the firm earned $0.07 EPS. The business’s revenue was up 25.9% on a year-over-year basis. On average, analysts anticipate that The Trade Desk, Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Activity at Trade Desk

In related news, Director Andrea Lee Cunningham sold 1,606 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $100.07, for a total value of $160,712.42. Following the transaction, the director now owns 3,516 shares of the company’s stock, valued at approximately $351,846.12. This trade represents a 0.00 % 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. In other Trade Desk news, Director Andrea Lee Cunningham sold 1,606 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $100.07, for a total value of $160,712.42. Following the completion of the sale, the director now owns 3,516 shares in the company, valued at approximately $351,846.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey Terry Green sold 135,922 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $103.72, for a total transaction of $14,097,829.84. Following the completion of the sale, the chief executive officer now owns 664,261 shares of the company’s stock, valued at approximately $68,897,150.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,557,897 shares of company stock valued at $170,121,565. 9.72% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on TTD. New Street Research cut Trade Desk from a “neutral” rating to a “sell” rating and set a $86.00 target price for the company. in a research note on Tuesday, October 29th. Wedbush restated an “outperform” rating and set a $115.00 target price (up from $110.00) on shares of Trade Desk in a research note on Thursday, September 12th. Robert W. Baird upped their price target on shares of Trade Desk from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Benchmark upped their price target on shares of Trade Desk from $49.00 to $57.00 and gave the stock a “sell” rating in a report on Friday, August 9th. Finally, Susquehanna upped their price target on shares of Trade Desk from $110.00 to $135.00 and gave the stock a “positive” rating in a report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Trade Desk presently has an average rating of “Moderate Buy” and a consensus price target of $115.60.

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.