The Trade Desk, Inc. (NASDAQ:TTD) Stock Position Lessened by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS decreased its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 8.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 145,878 shares of the technology company’s stock after selling 14,070 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Trade Desk were worth $10,497,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. J.W. Cole Advisors Inc. lifted its holdings in shares of Trade Desk by 5.0% in the fourth quarter. J.W. Cole Advisors Inc. now owns 3,979 shares of the technology company’s stock valued at $286,000 after buying an additional 190 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Trade Desk by 58.2% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949 shares of the technology company’s stock valued at $68,000 after buying an additional 349 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Trade Desk by 0.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 51,663 shares of the technology company’s stock valued at $3,717,000 after buying an additional 473 shares during the period. Key Financial Inc lifted its holdings in shares of Trade Desk by 2,900.0% in the fourth quarter. Key Financial Inc now owns 1,200 shares of the technology company’s stock valued at $86,000 after buying an additional 1,160 shares during the period. Finally, Rakuten Securities Inc. acquired a new stake in shares of Trade Desk in the fourth quarter valued at $63,000. Institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Down 4.3 %

Shares of TTD traded down $3.51 during midday trading on Friday, reaching $77.30. 3,113,783 shares of the stock were exchanged, compared to its average volume of 2,522,256. The Trade Desk, Inc. has a 12-month low of $59.36 and a 12-month high of $94.00. The firm has a 50 day simple moving average of $82.97 and a 200-day simple moving average of $75.66. The company has a market cap of $37.80 billion, a price-to-earnings ratio of 214.73, a P/E/G ratio of 4.45 and a beta of 1.50.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Thursday, February 15th. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.05). Trade Desk had a return on equity of 8.59% and a net margin of 9.19%. The firm had revenue of $605.80 million for the quarter, compared to analysts’ expectations of $582.61 million. Research analysts expect that The Trade Desk, Inc. will post 0.79 earnings per share for the current fiscal year.

Insider Activity at Trade Desk

In related news, CEO Jeffrey Terry Green sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $81.77, for a total value of $6,132,750.00. Following the transaction, the chief executive officer now directly owns 1,551,987 shares of the company’s stock, valued at approximately $126,905,976.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Kathryn E. Falberg sold 103,030 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $81.90, for a total value of $8,438,157.00. Following the transaction, the director now directly owns 242,609 shares of the company’s stock, valued at approximately $19,869,677.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey Terry Green sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $81.77, for a total value of $6,132,750.00. Following the completion of the transaction, the chief executive officer now directly owns 1,551,987 shares in the company, valued at $126,905,976.99. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 492,170 shares of company stock valued at $41,250,398. Corporate insiders own 10.81% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. BMO Capital Markets upped their price objective on Trade Desk from $88.00 to $107.00 and gave the company an “outperform” rating in a report on Friday, February 16th. KeyCorp upped their price objective on Trade Desk from $84.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Truist Financial increased their price target on Trade Desk from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Royal Bank of Canada increased their price target on Trade Desk from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Finally, BTIG Research increased their price target on Trade Desk from $91.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, Trade Desk has a consensus rating of “Moderate Buy” and an average price target of $89.75.

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.