Rhumbline Advisers Sells 9,989 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Rhumbline Advisers cut its stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 609,826 shares of the technology company's stock after selling 9,989 shares during the quarter. Rhumbline Advisers owned about 0.12% of Trade Desk worth $33,370,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in TTD. Investment Management Corp VA ADV purchased a new stake in shares of Trade Desk in the 4th quarter valued at about $25,000. Rialto Wealth Management LLC bought a new stake in Trade Desk during the fourth quarter worth about $26,000. Midwest Capital Advisors LLC bought a new stake in Trade Desk during the fourth quarter worth about $34,000. Zions Bancorporation N.A. lifted its stake in shares of Trade Desk by 148.3% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock valued at $34,000 after acquiring an additional 175 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new stake in shares of Trade Desk in the 4th quarter valued at about $39,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Trade Desk Stock Performance

Shares of TTD stock traded down $4.94 on Thursday, reaching $71.11. The stock had a trading volume of 12,279,160 shares, compared to its average volume of 6,088,198. The stock has a market cap of $34.95 billion, a P/E ratio of 91.17, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29. The Trade Desk, Inc. has a 1 year low of $42.96 and a 1 year high of $141.53. The company has a 50 day simple moving average of $61.21 and a 200 day simple moving average of $89.18.

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 analysts' consensus estimates of $0.26 by $0.07. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The company had revenue of $616.02 million for the quarter, compared to analysts' expectations of $575.62 million. During the same period last year, the firm earned $0.26 EPS. Trade Desk's revenue for the quarter was up 25.4% compared to the same quarter last year. On average, equities research analysts anticipate 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 allows the company to buyback $564.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 0.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms have recently weighed in on TTD. Jefferies Financial Group set a $125.00 target price on Trade Desk and gave the company a "buy" rating in a research note on Tuesday, April 29th. Robert W. Baird lowered their target price on Trade Desk from $160.00 to $145.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Scotiabank lowered their target price on Trade Desk from $133.00 to $83.00 and set a "sector perform" rating for the company in a research note on Thursday, February 13th. KeyCorp lifted their price objective on Trade Desk from $67.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, Stifel Nicolaus cut their price objective on Trade Desk from $122.00 to $87.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $97.12.

Insider Buying and Selling

In other Trade Desk news, CEO Jeffrey Terry Green sold 26,684 shares of the firm'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 sale, the chief executive officer now directly owns 17,018 shares of the company's stock, valued at $1,361,950.54. This trade represents a 61.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David B. Wells sold 28,638 shares of the firm's stock in a transaction dated 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 sale, the director now directly owns 66,985 shares in the company, valued at approximately $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 insiders.

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.