Handelsbanken Fonder AB Lowers Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Handelsbanken Fonder AB lessened its stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 8.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 191,456 shares of the technology company's stock after selling 18,188 shares during the quarter. Handelsbanken Fonder AB's holdings in Trade Desk were worth $10,476,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Investment Management Corp VA ADV bought a new stake in shares of Trade Desk during the 4th quarter worth about $25,000. Rialto Wealth Management LLC bought a new stake in shares of Trade Desk during the fourth quarter worth approximately $26,000. Midwest Capital Advisors LLC acquired a new position in shares of Trade Desk in the fourth quarter valued at approximately $34,000. Zions Bancorporation N.A. grew its position in shares of Trade Desk by 148.3% in the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock valued at $34,000 after purchasing an additional 175 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new position in shares of Trade Desk during the fourth quarter worth approximately $39,000. Institutional investors own 67.77% of the company's stock.

Insider Activity at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 26,684 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $80.03, for a total value of $2,135,520.52. Following the completion of the transaction, the chief executive officer now owns 17,018 shares in the company, valued at approximately $1,361,950.54. This represents a 61.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David B. Wells sold 28,638 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the sale, the director now owns 66,985 shares in the company, valued at approximately $5,350,761.80. The trade was a 29.95% decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is owned by corporate insiders.

Trade Desk Stock Down 3.7%

Shares of NASDAQ TTD traded down $2.61 during midday trading on Friday, hitting $67.96. 6,699,048 shares of the company's stock were exchanged, compared to its average volume of 6,136,275. The company's 50 day moving average price is $63.27 and its 200 day moving average price is $87.31. The firm has a market capitalization of $33.40 billion, a PE ratio of 87.13, a price-to-earnings-growth ratio of 3.11 and a beta of 1.41. The Trade Desk, Inc. has a 12 month low of $42.96 and a 12 month high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. The company had revenue of $616.02 million during the quarter, compared to analysts' expectations of $575.62 million. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. Trade Desk's revenue was up 25.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.26 EPS. On average, equities research analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Analysts Set New Price Targets

TTD has been the subject of a number of analyst reports. Citizens Jmp dropped their price target on shares of Trade Desk from $115.00 to $100.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Scotiabank dropped their price objective on Trade Desk from $133.00 to $83.00 and set a "sector perform" rating for the company in a report on Thursday, February 13th. Guggenheim cut their target price on Trade Desk from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Jefferies Financial Group set a $125.00 price target on Trade Desk and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Finally, Cantor Fitzgerald dropped their price target on Trade Desk from $115.00 to $100.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat, Trade Desk presently has a consensus rating of "Moderate Buy" and an average target price of $97.15.

Trade Desk 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.