GraniteShares Advisors LLC Trims Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

GraniteShares Advisors LLC lowered its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 27.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 6,225 shares of the technology company’s stock after selling 2,394 shares during the period. GraniteShares Advisors LLC’s holdings in Trade Desk were worth $732,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TTD. Edgewood Management LLC grew its stake in Trade Desk by 133.3% during the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock valued at $1,089,280,000 after acquiring an additional 5,675,571 shares in the last quarter. Jennison Associates LLC grew its stake in Trade Desk by 11.0% during the third quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock valued at $2,228,172,000 after acquiring an additional 2,013,047 shares in the last quarter. Baillie Gifford & Co. grew its stake in Trade Desk by 4.7% during the third quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock valued at $4,245,218,000 after acquiring an additional 1,720,650 shares in the last quarter. Wellington Management Group LLP grew its stake in Trade Desk by 55.3% during the third quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company’s stock valued at $169,892,000 after acquiring an additional 551,925 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in Trade Desk by 1,809.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 444,616 shares of the technology company’s stock valued at $48,752,000 after acquiring an additional 421,333 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jeffrey Terry Green sold 18,207 shares of the 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 sale, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This represents a 2.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jay R. Grant sold 18,524 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the sale, the insider now directly owns 169,464 shares in the company, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,029 shares of company stock worth $5,004,296 in the last three months. 9.72% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on TTD shares. Wolfe Research boosted their price target 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. Macquarie boosted their price target on shares of Trade Desk from $133.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Wells Fargo & Company cut their price target on shares of Trade Desk from $142.00 to $101.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Cantor Fitzgerald cut their price target on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Finally, New Street Research raised shares of Trade Desk from a “sell” rating to a “neutral” rating and upped their price objective for the company from $85.00 to $115.00 in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Trade Desk presently has an average rating of “Moderate Buy” and a consensus target price of $119.45.

Trade Desk Trading Up 1.1 %

Shares of NASDAQ TTD opened at $74.98 on Wednesday. The Trade Desk, Inc. has a 12 month low of $70.44 and a 12 month high of $141.53. The firm has a market capitalization of $37.01 billion, a PE ratio of 96.13, a price-to-earnings-growth ratio of 3.11 and a beta of 1.45. The firm has a fifty day simple moving average of $112.90 and a two-hundred day simple moving average of $115.03.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 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, sell-side analysts predict 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 buyback plan on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 0.9% of its shares through open market purchases. Shares buyback plans are generally 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.