Public Employees Retirement System of Ohio Sells 7,976 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Public Employees Retirement System of Ohio decreased its position in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 176,735 shares of the technology company's stock after selling 7,976 shares during the period. Public Employees Retirement System of Ohio's holdings in Trade Desk were worth $20,772,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of TTD. Norges Bank acquired a new stake in Trade Desk during the fourth quarter valued at $524,187,000. Brown Advisory Inc. boosted its position in Trade Desk by 3,037.0% during the fourth quarter. Brown Advisory Inc. now owns 2,714,955 shares of the technology company's stock valued at $319,089,000 after purchasing an additional 2,628,409 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Trade Desk during the fourth quarter valued at $231,570,000. Franklin Resources Inc. boosted its position 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 valued at $219,121,000 after purchasing an additional 1,354,891 shares during the last quarter. Finally, FMR LLC boosted its position in Trade Desk by 44.8% during the fourth quarter. FMR LLC now owns 3,788,285 shares of the technology company's stock valued at $445,237,000 after purchasing an additional 1,172,082 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company's stock.

Trade Desk Price Performance

Shares of TTD stock traded up $0.88 during trading hours on Wednesday, hitting $76.94. 6,551,988 shares of the company's stock were exchanged, compared to its average volume of 6,008,017. The stock's 50-day moving average is $58.85 and its 200-day moving average is $91.38. The stock has a market cap of $38.17 billion, a price-to-earnings ratio of 98.64, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29. The Trade Desk, Inc. has a 52 week low of $42.96 and a 52 week high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07. The company had revenue of $616.02 million for 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%. The business's revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.26 earnings per share. Equities research analysts forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its board has approved a share buyback plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to buy up to 0.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other 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 transaction, the chief executive officer now owns 17,018 shares of the company's stock, valued at $1,361,950.54. This represents a 61.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David B. Wells sold 28,638 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total value of $2,287,603.44. Following the completion of the transaction, the director now directly owns 66,985 shares in the company, valued at approximately $5,350,761.80. This trade represents a 29.95% decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.72% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Loop Capital reduced their price target 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. Cantor Fitzgerald reduced their price target on Trade Desk from $115.00 to $100.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. UBS Group reduced their price target on Trade Desk from $116.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Citizens Jmp reduced their price target on Trade Desk from $115.00 to $100.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Finally, Oppenheimer boosted their price target on Trade Desk from $75.00 to $80.00 and gave the stock an "outperform" rating in a research report on Friday, May 9th. Seven research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat, Trade Desk presently has a consensus rating of "Moderate Buy" and a consensus target price of $97.12.

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.