USS Investment Management Ltd Sells 7,031 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

USS Investment Management Ltd reduced its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 8.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 75,483 shares of the technology company's stock after selling 7,031 shares during the period. USS Investment Management Ltd's holdings in Trade Desk were worth $8,870,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Trade Desk by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company's stock worth $5,015,035,000 after purchasing an additional 253,137 shares during the period. Invesco Ltd. raised its position in shares of Trade Desk by 2.6% in the fourth quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company's stock valued at $930,477,000 after purchasing an additional 198,822 shares during the period. Norges Bank purchased a new stake in shares of Trade Desk during the 4th quarter valued at approximately $524,187,000. FMR LLC boosted its holdings in Trade Desk by 44.8% in the 4th 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, Bank of America Corp DE grew its stake in Trade Desk by 13.2% in the 4th quarter. Bank of America Corp DE now owns 3,591,849 shares of the technology company's stock valued at $422,150,000 after buying an additional 418,911 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on TTD shares. Jefferies Financial Group set a $125.00 target price on Trade Desk and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Cantor Fitzgerald cut their target price 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. Wells Fargo & Company reduced their target price on Trade Desk from $101.00 to $72.00 and set an "overweight" rating for the company in a report on Monday, March 31st. Scotiabank lowered their price target on shares of Trade Desk from $133.00 to $83.00 and set a "sector perform" rating on the stock in a report on Thursday, February 13th. Finally, Loop Capital cut their price objective on shares of Trade Desk from $145.00 to $101.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $97.12.

Insider Buying and Selling

In other news, CEO Jeffrey Terry Green sold 26,684 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the completion of the sale, the chief executive officer now directly 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 SEC, which is accessible through this hyperlink. Also, Director David B. Wells sold 28,638 shares of the firm'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 completion of the sale, the director now directly owns 66,985 shares in the company, valued at $5,350,761.80. The trade was 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 Stock Performance

TTD stock opened at $74.47 on Thursday. The firm has a market cap of $36.94 billion, a P/E ratio of 95.47, a P/E/G ratio of 3.11 and a beta of 1.29. The firm's fifty day moving average is $57.31 and its 200 day moving average is $92.97. 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 quarterly earnings data 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. The firm 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 company's revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period last year, the firm earned $0.26 earnings per share. As a group, analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk announced that its Board of Directors has authorized a share buyback program on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are undervalued.

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.

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