The Trade Desk, Inc. (NASDAQ:TTD) Shares Sold by Polar Capital Holdings Plc

Polar Capital Holdings Plc decreased its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 46.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 580,050 shares of the technology company’s stock after selling 509,565 shares during the quarter. Polar Capital Holdings Plc owned about 0.12% of Trade Desk worth $68,173,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Trade Desk in the fourth quarter valued at approximately $524,187,000. Brown Advisory Inc. grew its holdings in Trade Desk by 3,037.0% during the 4th quarter. Brown Advisory Inc. now owns 2,714,955 shares of the technology company’s stock valued at $319,089,000 after purchasing an additional 2,628,409 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Trade Desk during the 4th quarter worth $231,570,000. Franklin Resources Inc. lifted its holdings in Trade Desk by 265.9% in the 4th quarter. Franklin Resources Inc. now owns 1,864,386 shares of the technology company’s stock worth $219,121,000 after buying an additional 1,354,891 shares in the last quarter. Finally, FMR LLC boosted its position in Trade Desk by 44.8% in the 4th quarter. FMR LLC now owns 3,788,285 shares of the technology company’s stock valued at $445,237,000 after buying an additional 1,172,082 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TTD has been the subject of a number of analyst reports. Morgan Stanley increased their price target on Trade Desk from $60.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Needham & Company LLC reiterated a “buy” rating and set a $84.00 target price on shares of Trade Desk in a research note on Friday, May 9th. Truist Financial raised their price target on shares of Trade Desk from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. KeyCorp upped their price target on shares of Trade Desk from $67.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Finally, Citigroup boosted their target price on shares of Trade Desk from $63.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Seven analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $98.88.

Insider Buying and Selling

In other Trade Desk news, CEO Jeffrey Terry Green sold 26,684 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $80.03, for a total value of $2,135,520.52. Following the sale, the chief executive officer now directly owns 17,018 shares in the company, valued at approximately $1,361,950.54. The trade was a 61.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.74% of the stock is owned by corporate insiders.

Trade Desk Price Performance

Shares of Trade Desk stock opened at $79.14 on Thursday. The Trade Desk, Inc. has a 1-year low of $42.96 and a 1-year high of $141.53. The business’s fifty day moving average price is $55.42 and its two-hundred day moving average price is $94.49. The company has a market capitalization of $39.26 billion, a P/E ratio of 101.46, a PEG ratio of 3.11 and a beta of 1.29.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. The business had revenue of $616.02 million during the quarter, compared to the consensus estimate of $575.62 million. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The company’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.26 earnings per share. On average, research analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its board has approved a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to purchase up to 0.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are 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.