The Trade Desk, Inc. (NASDAQ:TTD) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC decreased its position in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 5.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,292,728 shares of the technology company's stock after selling 69,527 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 0.26% of Trade Desk worth $151,934,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC boosted its stake in Trade Desk by 2.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 176,543 shares of the technology company's stock worth $20,749,000 after buying an additional 4,340 shares during the period. Wesbanco Bank Inc. purchased a new stake in Trade Desk in the fourth quarter valued at approximately $415,000. Mutual Advisors LLC lifted its stake in Trade Desk by 4.4% during the fourth quarter. Mutual Advisors LLC now owns 4,632 shares of the technology company's stock worth $560,000 after purchasing an additional 194 shares in the last quarter. Avior Wealth Management LLC lifted its stake in Trade Desk by 428.2% during the fourth quarter. Avior Wealth Management LLC now owns 1,928 shares of the technology company's stock worth $227,000 after purchasing an additional 1,563 shares in the last quarter. Finally, Brighton Jones LLC boosted its position in shares of Trade Desk by 3.8% during the fourth quarter. Brighton Jones LLC now owns 4,586 shares of the technology company's stock worth $539,000 after buying an additional 169 shares during the period. Institutional investors and hedge funds own 67.77% of the company's stock.

Insider Activity

In other news, Director David B. Wells sold 28,638 shares of the business'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 of the company's stock, valued at $5,350,761.80. The trade was a 29.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey Terry Green sold 26,684 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were 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 directly owns 17,018 shares of the company's stock, valued at $1,361,950.54. The trade was a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.72% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on TTD. Wedbush restated an "outperform" rating and set a $86.00 target price (up from $80.00) on shares of Trade Desk in a report on Friday, May 9th. Loop Capital lowered their target price on Trade Desk from $145.00 to $101.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Oppenheimer lifted their price target on shares of Trade Desk from $75.00 to $80.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Scotiabank dropped their price objective on shares of Trade Desk from $133.00 to $83.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 13th. Finally, DA Davidson reduced their price objective on shares of Trade Desk from $103.00 to $92.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Seven analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $97.12.

Trade Desk Price Performance

Shares of TTD stock traded down $2.06 during mid-day trading on Thursday, hitting $74.88. The stock had a trading volume of 5,403,923 shares, compared to its average volume of 6,005,579. The firm has a market cap of $37.15 billion, a PE ratio of 96.00, a PEG ratio of 3.11 and a beta of 1.29. The company's 50-day simple moving average is $59.26 and its 200-day simple moving average is $91.28. The Trade Desk, Inc. has a fifty-two week low of $42.96 and a fifty-two week high of $141.53.

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

Trade Desk announced that its board has authorized a stock buyback 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 reacquire up to 0.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its shares are undervalued.

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.