Kornitzer Capital Management Inc. KS Sells 30,124 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Kornitzer Capital Management Inc. KS lowered its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 29.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 72,279 shares of the technology company’s stock after selling 30,124 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Trade Desk were worth $8,495,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Ithaka Group LLC boosted its position in shares of Trade Desk by 4.5% during the 3rd quarter. Ithaka Group LLC now owns 112,888 shares of the technology company’s stock valued at $12,378,000 after acquiring an additional 4,836 shares during the last quarter. Venture Visionary Partners LLC boosted its position in shares of Trade Desk by 33.0% during the 3rd quarter. Venture Visionary Partners LLC now owns 17,308 shares of the technology company’s stock valued at $1,898,000 after acquiring an additional 4,296 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Trade Desk by 36.2% during the 4th quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock valued at $159,132,000 after acquiring an additional 358,350 shares during the last quarter. Assetmark Inc. boosted its position in shares of Trade Desk by 2,461.2% during the 3rd quarter. Assetmark Inc. now owns 73,559 shares of the technology company’s stock valued at $8,066,000 after acquiring an additional 70,687 shares during the last quarter. Finally, Swiss National Bank boosted its position in shares of Trade Desk by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,321,400 shares of the technology company’s stock valued at $144,892,000 after acquiring an additional 4,500 shares during the last quarter. Institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Down 0.2 %

NASDAQ TTD opened at $80.03 on Wednesday. The Trade Desk, Inc. has a twelve month low of $76.12 and a twelve month high of $141.53. The firm has a market capitalization of $39.50 billion, a PE ratio of 102.60, a P/E/G ratio of 2.80 and a beta of 1.45. The stock’s 50 day moving average is $119.84 and its 200 day moving average is $115.53.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results 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, research analysts anticipate that The Trade Desk, Inc. will post 1.25 earnings per share for the current year.

Trade Desk announced that its board has approved a stock buyback program on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity at Trade Desk

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. StockNews.com downgraded Trade Desk from a “buy” rating to a “hold” rating in a research report on Saturday, November 30th. Evercore ISI cut Trade Desk from an “outperform” rating to an “inline” rating and decreased their price objective for the company from $135.00 to $90.00 in a report on Thursday, February 13th. Piper Sandler reissued an “overweight” rating and set a $110.00 price objective (down from $140.00) on shares of Trade Desk in a report on Thursday, February 13th. BTIG Research raised their price objective on Trade Desk from $114.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Stifel Nicolaus decreased their price objective on Trade Desk from $144.00 to $122.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have given 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $120.97.

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.