Public Employees Retirement System of Ohio Has $17.27 Million Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Public Employees Retirement System of Ohio reduced its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 10.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 197,493 shares of the technology company’s stock after selling 22,724 shares during the period. Public Employees Retirement System of Ohio’s holdings in Trade Desk were worth $17,265,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Global Assets Advisory LLC bought a new stake in Trade Desk during the 1st quarter worth approximately $2,626,000. Franklin Resources Inc. increased its holdings in Trade Desk by 15.7% during the 4th quarter. Franklin Resources Inc. now owns 393,907 shares of the technology company’s stock worth $28,346,000 after purchasing an additional 53,441 shares in the last quarter. Nordea Investment Management AB increased its holdings in Trade Desk by 11.4% during the 1st quarter. Nordea Investment Management AB now owns 683,642 shares of the technology company’s stock worth $60,202,000 after purchasing an additional 70,201 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in Trade Desk by 30.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 287,352 shares of the technology company’s stock worth $21,078,000 after purchasing an additional 67,520 shares in the last quarter. Finally, Raymond James & Associates increased its holdings in Trade Desk by 12.8% during the 4th 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 in the last quarter. 67.77% of the stock is owned by institutional investors.

Trade Desk Stock Performance

Shares of TTD stock opened at $92.43 on Tuesday. The Trade Desk, Inc. has a 52-week low of $60.23 and a 52-week high of $102.67. The company has a market capitalization of $45.21 billion, a PE ratio of 230.53, a price-to-earnings-growth ratio of 4.73 and a beta of 1.48. The business’s fifty day moving average is $96.52 and its 200 day moving average is $86.21.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. Trade Desk had a return on equity of 9.41% and a net margin of 9.80%. The company had revenue of $491.25 million for the quarter, compared to the consensus estimate of $480.03 million. On average, sell-side analysts forecast that The Trade Desk, Inc. will post 0.85 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 1,355 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $98.37, for a total value of $133,291.35. Following the sale, the director now owns 32,701 shares in the company, valued at $3,216,797.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Gokul Rajaram sold 1,355 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $98.37, for a total value of $133,291.35. Following the transaction, the director now owns 32,701 shares of the company’s stock, valued at $3,216,797.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Laura Schenkein sold 43,705 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 703,038 shares in the company, valued at approximately $67,055,764.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 213,909 shares of company stock worth $20,827,601. Corporate insiders own 10.18% of the company’s stock.

Analyst Ratings Changes

TTD has been the subject of several recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 target price on shares of Trade Desk in a report on Tuesday, June 11th. Stifel Nicolaus upped their target price on Trade Desk from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Loop Capital upped their target price on Trade Desk from $102.00 to $109.00 and gave the company a “buy” rating in a report on Thursday, May 16th. Truist Financial reaffirmed a “buy” rating and issued a $105.00 target price on shares of Trade Desk in a report on Thursday, May 16th. Finally, Wolfe Research initiated coverage on Trade Desk in a report on Tuesday, July 16th. They issued an “outperform” rating and a $115.00 target price for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $100.59.

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.