Los Angeles Capital Management LLC Decreases Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Los Angeles Capital Management LLC lowered its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 516,973 shares of the technology company’s stock after selling 15,514 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.10% of Trade Desk worth $60,760,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC raised its position in Trade Desk by 68.8% in the 4th 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 last quarter. Synergy Asset Management LLC acquired a new stake in Trade Desk in the 4th quarter valued at about $34,000. Midwest Capital Advisors LLC acquired a new stake in shares of Trade Desk during the 4th quarter worth about $34,000. Exchange Traded Concepts LLC purchased a new position in shares of Trade Desk during the 4th quarter worth about $35,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Trade Desk during the 4th quarter worth about $39,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Stock Performance

Shares of NASDAQ TTD opened at $74.20 on Tuesday. The Trade Desk, Inc. has a fifty-two week low of $70.44 and a fifty-two week high of $141.53. The company has a 50 day simple moving average of $114.10 and a two-hundred day simple moving average of $115.21. The company has a market capitalization of $36.62 billion, a price-to-earnings ratio of 95.13, a P/E/G ratio of 3.11 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share 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%. On average, analysts forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its board has approved a stock repurchase program on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms recently commented on TTD. UBS Group raised their price target on shares of Trade Desk from $116.00 to $148.00 and gave the company a “buy” rating in a report on Friday, February 14th. JMP Securities decreased their price objective on shares of Trade Desk from $150.00 to $115.00 and set a “market outperform” rating for the company in a report on Thursday, February 13th. Scotiabank cut their target price on Trade Desk from $133.00 to $83.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Royal Bank of Canada cut their price objective on shares of Trade Desk from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Finally, Macquarie lifted their price objective on shares of Trade Desk from $133.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Trade Desk currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.45.

Insider Activity

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction 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 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the completion of the sale, the insider now owns 169,464 shares in the company, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock worth $5,004,296 in the last three months. Company insiders own 9.72% of the company’s stock.

Trade Desk Company Profile

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.