EFG Asset Management North America Corp. Sells 7,859 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

EFG Asset Management North America Corp. cut its position in The Trade Desk, Inc. (NASDAQ:TTD) by 17.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,300 shares of the technology company’s stock after selling 7,859 shares during the quarter. EFG Asset Management North America Corp.’s holdings in Trade Desk were worth $4,266,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Trade Desk during the 4th quarter worth $231,570,000. National Pension Service raised its position in shares of Trade Desk by 104.1% in the 4th quarter. National Pension Service now owns 1,264,985 shares of the technology company’s stock valued at $148,674,000 after purchasing an additional 645,240 shares during the last quarter. Wellington Management Group LLP boosted its stake in Trade Desk by 55.3% in the 3rd quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company’s stock worth $169,892,000 after purchasing an additional 551,925 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in Trade Desk by 1,809.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 444,616 shares of the technology company’s stock worth $48,752,000 after purchasing an additional 421,333 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in Trade Desk by 326.1% during the 3rd quarter. Franklin Resources Inc. now owns 509,495 shares of the technology company’s stock valued at $60,105,000 after purchasing an additional 389,917 shares in the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk stock in a transaction dated 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 transaction, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at $88,338,485.76. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction dated 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 transaction, the insider now 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 disclosure for this sale can be found here. Insiders sold 41,029 shares of company stock worth $5,004,296 over the last ninety days. Corporate insiders own 9.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Morgan Stanley cut their target price on Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Robert W. Baird reduced their price objective on Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. DA Davidson dropped their target price on Trade Desk from $134.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Wolfe Research increased their price objective on shares of Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, UBS Group raised their target price on shares of Trade Desk from $116.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Trade Desk currently has a consensus rating of “Moderate Buy” and an average target price of $116.41.

Trade Desk Stock Up 5.4 %

Shares of TTD opened at $59.34 on Tuesday. The Trade Desk, Inc. has a 52-week low of $53.39 and a 52-week high of $141.53. The stock has a market cap of $29.44 billion, a PE ratio of 76.08, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The firm’s fifty day moving average is $89.97 and its two-hundred day moving average is $109.60.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. As a group, research analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk declared that its board has approved a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is 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.