The Trade Desk, Inc. (NASDAQ:TTD) Holdings Decreased by Dark Forest Capital Management LP

Dark Forest Capital Management LP cut its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 39.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,497 shares of the technology company’s stock after selling 54,128 shares during the period. Trade Desk accounts for about 1.4% of Dark Forest Capital Management LP’s portfolio, making the stock its 3rd largest position. Dark Forest Capital Management LP’s holdings in Trade Desk were worth $9,578,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Quantessence Capital LLC acquired a new stake in shares of Trade Desk during the fourth quarter worth about $589,000. Harvest Investment Services LLC acquired a new stake in shares of Trade Desk in the fourth quarter worth $321,000. Alpine Global Management LLC acquired a new position in Trade Desk during the fourth quarter valued at $454,000. J. Safra Sarasin Holding AG boosted its holdings in Trade Desk by 18.7% in the fourth quarter. J. Safra Sarasin Holding AG now owns 162,197 shares of the technology company’s stock valued at $19,063,000 after purchasing an additional 25,608 shares during the last quarter. Finally, Stifel Financial Corp raised its stake in shares of Trade Desk by 10.0% during the 4th quarter. Stifel Financial Corp now owns 381,286 shares of the technology company’s stock valued at $44,813,000 after buying an additional 34,804 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Insider Activity at Trade Desk

In related news, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the sale, the insider now directly owns 90,709 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. 9.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TTD shares. Jefferies Financial Group dropped their target price on Trade Desk from $120.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Wells Fargo & Company lowered their price target on shares of Trade Desk from $101.00 to $72.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. KeyCorp decreased their price objective on shares of Trade Desk from $74.00 to $67.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Evercore ISI lowered Trade Desk from an “outperform” rating to an “inline” rating and decreased their target price for the company from $135.00 to $90.00 in a research report on Thursday, February 13th. Finally, Susquehanna reduced their price objective on shares of Trade Desk from $150.00 to $135.00 and set a “positive” rating for the company in a research report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Trade Desk currently has an average rating of “Moderate Buy” and a consensus target price of $104.10.

Trade Desk Trading Down 5.4 %

TTD stock opened at $47.56 on Tuesday. The company’s 50-day moving average price is $60.03 and its 200 day moving average price is $101.03. The Trade Desk, Inc. has a 52 week low of $42.96 and a 52 week high of $141.53. The company has a market cap of $23.59 billion, a P/E ratio of 60.97, a P/E/G 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 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%. On average, equities research analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

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

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.