Geode Capital Management LLC Sells 492,986 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Geode Capital Management LLC decreased its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 6.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,670,568 shares of the technology company’s stock after selling 492,986 shares during the quarter. Geode Capital Management LLC owned approximately 1.55% of Trade Desk worth $900,138,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of TTD. Vanguard Group Inc. boosted its position in Trade Desk by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company’s stock worth $5,015,035,000 after purchasing an additional 253,137 shares during the period. Norges Bank acquired a new stake in shares of Trade Desk in the fourth quarter worth $524,187,000. Bank of New York Mellon Corp boosted its holdings in shares of Trade Desk by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,019,707 shares of the technology company’s stock worth $237,376,000 after buying an additional 5,080 shares during the period. Raymond James Financial Inc. acquired a new position in Trade Desk in the 4th quarter valued at $231,570,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Trade Desk by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,875,139 shares of the technology company’s stock worth $220,385,000 after acquiring an additional 95,489 shares during the period. Institutional investors own 67.77% of the company’s stock.

Trade Desk Trading Down 1.4 %

NASDAQ TTD opened at $56.30 on Thursday. The Trade Desk, Inc. has a 1-year low of $52.36 and a 1-year high of $141.53. The company has a 50 day moving average of $80.98 and a 200-day moving average of $107.36. The firm has a market cap of $27.93 billion, a price-to-earnings ratio of 72.18, a PEG ratio of 3.11 and a beta of 1.56.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data 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 net margin of 16.08% and a return on equity of 16.38%. On average, analysts forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. DA Davidson decreased their price target on shares of Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Wedbush raised their target price on Trade Desk from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Monday, January 6th. BMO Capital Markets cut their price target on Trade Desk from $160.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Scotiabank lowered their price objective on shares of Trade Desk from $133.00 to $83.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $145.00 target price on shares of Trade Desk in a research note on Thursday, March 13th. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Trade Desk has a consensus rating of “Moderate Buy” and a consensus price target of $114.38.

Insider Activity at Trade Desk

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction 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 transaction, the insider now owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at $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. 9.72% of the stock is currently owned by company insiders.

About Trade Desk

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.