Kornitzer Capital Management Inc. KS Has $3.12 Million Position in The Trade Desk (NASDAQ:TTD)

Kornitzer Capital Management Inc. KS decreased its holdings in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 21.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,979 shares of the technology company's stock after selling 15,300 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Trade Desk were worth $3,118,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Brown Advisory Inc. boosted its stake in Trade Desk by 198.4% during the first quarter. Brown Advisory Inc. now owns 8,102,294 shares of the technology company's stock worth $443,358,000 after buying an additional 5,387,339 shares during the period. Norges Bank purchased a new position in Trade Desk during the fourth quarter worth about $524,187,000. Franklin Resources Inc. boosted its stake in Trade Desk by 265.9% during the fourth quarter. Franklin Resources Inc. now owns 1,864,386 shares of the technology company's stock worth $219,121,000 after buying an additional 1,354,891 shares during the period. FMR LLC boosted its stake in Trade Desk by 44.8% during the fourth quarter. FMR LLC now owns 3,788,285 shares of the technology company's stock worth $445,237,000 after buying an additional 1,172,082 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Trade Desk during the fourth quarter worth about $100,658,000. Hedge funds and other institutional investors own 67.77% of the company's stock.

Trade Desk Stock Down 1.3%

Shares of Trade Desk stock traded down $1.02 during trading on Friday, reaching $80.42. 5,471,257 shares of the company were exchanged, compared to its average volume of 7,087,323. The Trade Desk has a twelve month low of $42.96 and a twelve month high of $141.53. The business has a 50-day moving average price of $73.78 and a 200-day moving average price of $77.44. The firm has a market capitalization of $39.52 billion, a price-to-earnings ratio of 98.08, a P/E/G ratio of 3.72 and a beta of 1.36.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. Trade Desk had a return on equity of 15.41% and a net margin of 16.04%. The firm had revenue of $616.02 million during the quarter, compared to analysts' expectations of $575.62 million. During the same period in the previous year, the firm earned $0.26 earnings per share. The company's revenue was up 25.4% on a year-over-year basis. On average, equities research analysts forecast that The Trade Desk will post 1.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TTD. Jefferies Financial Group set a $125.00 target price on shares of Trade Desk and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Guggenheim reduced their price target on shares of Trade Desk from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Royal Bank Of Canada reduced their price target on shares of Trade Desk from $100.00 to $85.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. UBS Group reissued a "buy" rating and set a $105.00 price target (up previously from $80.00) on shares of Trade Desk in a research report on Wednesday. Finally, Evercore ISI raised shares of Trade Desk from an "in-line" rating to an "outperform" rating and set a $90.00 price target on the stock in a research report on Friday, June 27th. Eight analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $98.48.

Insider Activity

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

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.