California Public Employees Retirement System Sells 61,732 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

California Public Employees Retirement System reduced its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 8.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 705,065 shares of the technology company’s stock after selling 61,732 shares during the period. California Public Employees Retirement System owned approximately 0.14% of Trade Desk worth $82,866,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rialto Wealth Management LLC acquired a new position in shares of Trade Desk during the 4th quarter worth about $26,000. Harbor Investment Advisory LLC grew its holdings in Trade Desk by 68.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after purchasing an additional 117 shares during the period. Synergy Asset Management LLC acquired a new position in Trade Desk during the fourth quarter valued at approximately $34,000. Midwest Capital Advisors LLC bought a new stake in Trade Desk in the fourth quarter valued at approximately $34,000. Finally, Zions Bancorporation N.A. raised its holdings in Trade Desk by 148.3% in the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock worth $34,000 after purchasing an additional 175 shares during the period. 67.77% of the stock is owned by institutional investors.

Trade Desk Price Performance

Shares of TTD stock opened at $54.72 on Tuesday. The company has a fifty day moving average price of $83.62 and a two-hundred day moving average price of $108.07. The Trade Desk, Inc. has a one year low of $52.90 and a one year high of $141.53. The stock has a market cap of $27.15 billion, a P/E ratio of 70.15, a P/E/G ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. As a group, equities research analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TTD. Stifel Nicolaus lowered their price objective on shares of Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Morgan Stanley lowered their price target on Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Robert W. Baird dropped their price target on Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Loop Capital decreased their price objective on Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Finally, Needham & Company LLC restated a “buy” rating and set a $145.00 target price on shares of Trade Desk in a report on Thursday, March 13th. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Trade Desk currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.41.

Insider Transactions at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the sale, the insider now owns 90,709 shares in the company, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 704,229 shares in the company, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. 9.72% of the stock is currently owned by corporate insiders.

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.