Louisiana State Employees Retirement System Sells 1,300 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Louisiana State Employees Retirement System trimmed its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 3.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 32,800 shares of the technology company’s stock after selling 1,300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Trade Desk were worth $3,855,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Harbor Investment Advisory LLC lifted its holdings in shares of Trade Desk by 68.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after acquiring an additional 117 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Trade Desk in the 4th quarter worth approximately $35,000. Synergy Asset Management LLC bought a new stake in shares of Trade Desk in the 4th quarter worth approximately $34,000. Avior Wealth Management LLC lifted its holdings in shares of Trade Desk by 37.7% in the 3rd quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock worth $40,000 after acquiring an additional 100 shares during the last quarter. Finally, JFS Wealth Advisors LLC lifted its holdings in shares of Trade Desk by 194.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 374 shares of the technology company’s stock worth $41,000 after acquiring an additional 247 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors.

Trade Desk Trading Up 1.7 %

NASDAQ TTD opened at $122.23 on Thursday. The Trade Desk, Inc. has a 12 month low of $71.11 and a 12 month high of $141.53. The stock has a market cap of $60.33 billion, a price-to-earnings ratio of 200.38, a PEG ratio of 3.63 and a beta of 1.45. The company’s 50 day moving average is $123.20 and its two-hundred day moving average is $115.54.

Trade Desk (NASDAQ:TTD) last released its earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a return on equity of 13.17% and a net margin of 13.34%. Sell-side analysts forecast that The Trade Desk, Inc. will post 0.87 EPS for the current year.

Trade Desk announced that its Board of Directors has initiated a share repurchase plan 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 plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the sale, the insider now directly owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the sale, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,029 shares of company stock worth $5,004,296. Company insiders own 9.72% of the company’s stock.

Wall Street Analysts Forecast Growth

TTD has been the subject of a number of recent analyst reports. Piper Sandler reiterated an “overweight” rating and set a $140.00 price target (up from $110.00) on shares of Trade Desk in a report on Friday, November 8th. UBS Group upped their price target on shares of Trade Desk from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, November 8th. Wedbush upped their price target on shares of Trade Desk from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Monday, January 6th. KeyCorp upped their price target on shares of Trade Desk from $140.00 to $142.00 and gave the company an “overweight” rating in a report on Monday. Finally, Royal Bank of Canada upped their price target on shares of Trade Desk from $136.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $133.20.

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.