Price T Rowe Associates Inc. MD Sells 4,366,266 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Price T Rowe Associates Inc. MD cut its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 65.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,279,299 shares of the technology company’s stock after selling 4,366,266 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.47% of Trade Desk worth $199,258,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in TTD. Raymond James & Associates lifted its position in shares of Trade Desk by 12.8% during the fourth quarter. Raymond James & Associates now owns 252,370 shares of the technology company’s stock worth $18,161,000 after purchasing an additional 28,714 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Trade Desk by 11.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 99,555 shares of the technology company’s stock worth $7,164,000 after purchasing an additional 10,455 shares during the last quarter. Ritholtz Wealth Management lifted its position in shares of Trade Desk by 57.1% during the fourth quarter. Ritholtz Wealth Management now owns 5,495 shares of the technology company’s stock worth $395,000 after purchasing an additional 1,997 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Trade Desk by 134.3% during the fourth quarter. Blue Trust Inc. now owns 628 shares of the technology company’s stock worth $49,000 after purchasing an additional 360 shares during the last quarter. Finally, Caprock Group LLC raised its holdings in shares of Trade Desk by 3.1% in the fourth quarter. Caprock Group LLC now owns 7,838 shares of the technology company’s stock valued at $564,000 after acquiring an additional 235 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Laura Schenkein sold 43,705 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $95.38, for a total value of $4,168,582.90. Following the transaction, the chief financial officer now owns 703,038 shares in the company, valued at approximately $67,055,764.44. The sale was disclosed in a filing with the SEC, which is available through this link. In other Trade Desk news, Director Gokul Rajaram sold 2,415 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $97.92, for a total value of $236,476.80. Following the sale, the director now owns 34,056 shares in the company, valued at approximately $3,334,763.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Laura Schenkein sold 43,705 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $95.38, for a total value of $4,168,582.90. Following the completion of the sale, the chief financial officer now owns 703,038 shares in the company, valued at approximately $67,055,764.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 213,909 shares of company stock worth $20,827,601. 10.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TTD. Needham & Company LLC restated a “buy” rating and issued a $100.00 price objective on shares of Trade Desk in a report on Thursday. BMO Capital Markets restated an “outperform” rating and issued a $108.00 price objective (up from $107.00) on shares of Trade Desk in a report on Thursday, May 9th. Stifel Nicolaus lifted their price objective on Trade Desk from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Wedbush restated an “outperform” rating and issued a $110.00 price objective on shares of Trade Desk in a report on Monday, July 22nd. Finally, Loop Capital lifted their price objective on Trade Desk from $102.00 to $109.00 and gave the company a “buy” rating in a report on Thursday, May 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, Trade Desk currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.59.

Trade Desk Stock Down 0.9 %

Shares of TTD traded down $0.82 during mid-day trading on Monday, hitting $91.61. 681,669 shares of the company traded hands, compared to its average volume of 4,112,137. The Trade Desk, Inc. has a 1-year low of $60.23 and a 1-year high of $102.67. The company has a market capitalization of $44.81 billion, a PE ratio of 232.08, a price-to-earnings-growth ratio of 4.73 and a beta of 1.48. The business has a 50 day moving average of $96.63 and a 200 day moving average of $86.04.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. Trade Desk had a net margin of 9.80% and a return on equity of 9.41%. The firm had revenue of $491.25 million for the quarter, compared to the consensus estimate of $480.03 million. As a group, research analysts expect that The Trade Desk, Inc. will post 0.85 EPS for the current fiscal year.

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.