Edgewood Management LLC Sells 425,216 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Edgewood Management LLC lessened its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 4.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 9,508,940 shares of the technology company’s stock after selling 425,216 shares during the period. Trade Desk comprises 3.2% of Edgewood Management LLC’s investment portfolio, making the stock its 21st biggest position. Edgewood Management LLC’s holdings in Trade Desk were worth $1,117,586,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Focus Financial Network Inc. grew its holdings in Trade Desk by 2.2% during the 4th quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock worth $456,000 after acquiring an additional 84 shares during the period. RMR Wealth Builders boosted its position in shares of Trade Desk by 0.8% in the 4th quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock worth $1,247,000 after purchasing an additional 89 shares during the last quarter. Quotient Wealth Partners LLC grew its stake in shares of Trade Desk by 4.2% during the fourth quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock worth $276,000 after purchasing an additional 94 shares during the period. TFB Advisors LLC increased its holdings in Trade Desk by 2.6% in the fourth quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock valued at $442,000 after purchasing an additional 94 shares during the last quarter. Finally, Centurion Wealth Management LLC lifted its stake in Trade Desk by 2.6% in the fourth quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company’s stock valued at $443,000 after buying an additional 96 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Insider Activity at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction 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 in the company, valued at $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The transaction 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 business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 704,229 shares in the company, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. 9.72% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on TTD. Stifel Nicolaus decreased their target price on Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Wells Fargo & Company decreased their price objective on shares of Trade Desk from $101.00 to $72.00 and set an “overweight” rating for the company in a report on Monday, March 31st. Piper Sandler reiterated an “overweight” rating and issued a $110.00 target price (down from $140.00) on shares of Trade Desk in a report on Thursday, February 13th. Susquehanna decreased their price target on shares of Trade Desk from $150.00 to $135.00 and set a “positive” rating for the company in a report 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 report on Thursday, March 13th. Six 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $114.38.

Trade Desk Trading Down 5.8 %

TTD opened at $46.24 on Friday. The company’s 50 day moving average is $78.11 and its 200-day moving average is $106.55. The company has a market cap of $22.94 billion, a P/E ratio of 59.28, a PEG ratio of 3.11 and a beta of 1.56. The Trade Desk, Inc. has a 1-year low of $45.02 and a 1-year high of $141.53.

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

Trade Desk announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $564.00 million in outstanding shares. This buyback authorization allows the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

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.