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

Zevenbergen Capital Investments LLC decreased its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 4.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,091,383 shares of the technology company’s stock after selling 108,691 shares during the period. Trade Desk makes up approximately 5.0% of Zevenbergen Capital Investments LLC’s portfolio, making the stock its 7th biggest position. Zevenbergen Capital Investments LLC’s holdings in Trade Desk were worth $245,800,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of TTD. Interchange Capital Partners LLC increased its holdings in shares of Trade Desk by 4.4% in the 4th quarter. Interchange Capital Partners LLC now owns 4,202 shares of the technology company’s stock worth $494,000 after acquiring an additional 179 shares during the period. Vanguard Group Inc. increased its stake in shares of Trade Desk by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company’s stock valued at $5,015,035,000 after purchasing an additional 253,137 shares during the period. LPL Financial LLC raised its holdings in shares of Trade Desk by 10.4% during the fourth quarter. LPL Financial LLC now owns 785,125 shares of the technology company’s stock valued at $92,276,000 after buying an additional 73,642 shares during the last quarter. Fox Run Management L.L.C. boosted its position in shares of Trade Desk by 452.2% during the fourth quarter. Fox Run Management L.L.C. now owns 15,963 shares of the technology company’s stock worth $1,876,000 after buying an additional 13,072 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in Trade Desk in the 4th quarter worth approximately $17,853,000. Institutional investors own 67.77% of the company’s stock.

Trade Desk Price Performance

NASDAQ:TTD opened at $56.31 on Monday. The stock’s 50-day moving average is $91.14 and its two-hundred day moving average is $109.91. The stock has a market cap of $27.93 billion, a PE ratio of 72.19, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a fifty-two week low of $53.39 and a fifty-two week high of $141.53.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data 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%. On average, equities research analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its Board of Directors has authorized a share buyback program on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TTD shares. New Street Research raised Trade Desk from a “sell” rating to a “neutral” rating and raised their price target for the company from $85.00 to $115.00 in a report on Monday, November 25th. Scotiabank dropped their price target on shares of Trade Desk from $133.00 to $83.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 13th. Morgan Stanley decreased their price objective on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Piper Sandler reissued an “overweight” rating and set a $110.00 target price (down previously from $140.00) on shares of Trade Desk in a report on Thursday, February 13th. Finally, KeyCorp decreased their price target on Trade Desk from $130.00 to $74.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $116.41.

Insider Activity at Trade Desk

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total transaction 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 represents a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 169,464 shares in the company, valued at $20,225,528.40. The trade was a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,029 shares of company stock valued at $5,004,296. 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.