The Trade Desk, Inc. (NASDAQ:TTD) Shares Sold by Forte Capital LLC ADV

Forte Capital LLC ADV reduced its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 6.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 205,355 shares of the technology company’s stock after selling 14,967 shares during the period. Trade Desk comprises about 2.7% of Forte Capital LLC ADV’s investment portfolio, making the stock its 7th largest holding. Forte Capital LLC ADV’s holdings in Trade Desk were worth $24,135,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of TTD. Edgewood Management LLC boosted its position in shares of Trade Desk by 133.3% during the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock worth $1,089,280,000 after buying an additional 5,675,571 shares during the period. Jennison Associates LLC boosted its position in shares of Trade Desk by 11.0% during the third quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after buying an additional 2,013,047 shares during the period. Baillie Gifford & Co. boosted its position in Trade Desk by 4.7% during the third quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock valued at $4,245,218,000 after purchasing an additional 1,720,650 shares during the last quarter. International Assets Investment Management LLC boosted its position in Trade Desk by 10,856.6% during 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 purchasing an additional 1,558,465 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Trade Desk by 55.3% during the third quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company’s stock valued at $169,892,000 after purchasing an additional 551,925 shares during the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TTD has been the subject of several recent research reports. Benchmark reissued a “sell” rating and set a $57.00 price target on shares of Trade Desk in a research report on Friday, November 8th. Morgan Stanley dropped their price objective on Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Citigroup dropped their price objective on Trade Desk from $140.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Stifel Nicolaus dropped their price objective on Trade Desk from $144.00 to $122.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, Needham & Company LLC restated a “buy” rating and issued a $145.00 price objective on shares of Trade Desk in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $119.45.

Trade Desk Stock Performance

Shares of TTD stock opened at $75.73 on Friday. The stock’s fifty day moving average price is $116.48 and its two-hundred day moving average price is $114.96. The company has a market cap of $37.38 billion, a PE ratio of 97.09, a P/E/G ratio of 3.15 and a beta of 1.45. The Trade Desk, Inc. has a fifty-two week low of $74.10 and a fifty-two week high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. On average, equities analysts predict that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Trade Desk

In related news, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the sale, the insider now directly owns 90,709 shares in the company, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,029 shares of company stock valued at $5,004,296 in the last 90 days. 9.72% of the stock is owned by corporate insiders.

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.