Frontier Capital Management Co. LLC Trims Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Frontier Capital Management Co. LLC reduced its stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 5.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 762,202 shares of the technology company's stock after selling 47,363 shares during the quarter. Trade Desk comprises 0.9% of Frontier Capital Management Co. LLC's holdings, making the stock its 20th largest position. Frontier Capital Management Co. LLC owned 0.15% of Trade Desk worth $89,582,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Focus Financial Network Inc. raised its stake in shares of Trade Desk by 2.2% during the fourth quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company's stock valued at $456,000 after acquiring an additional 84 shares during the last quarter. RMR Wealth Builders raised its position in Trade Desk by 0.8% during the 4th quarter. RMR Wealth Builders now owns 10,613 shares of the technology company's stock worth $1,247,000 after purchasing an additional 89 shares during the last quarter. Quotient Wealth Partners LLC lifted its holdings in Trade Desk by 4.2% during the 4th quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company's stock worth $276,000 after buying an additional 94 shares during the period. TFB Advisors LLC grew its position in shares of Trade Desk by 2.6% in the 4th quarter. TFB Advisors LLC now owns 3,759 shares of the technology company's stock valued at $442,000 after buying an additional 94 shares during the last quarter. Finally, Centurion Wealth Management LLC increased its stake in shares of Trade Desk by 2.6% in the fourth quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company's stock valued at $443,000 after buying an additional 96 shares during the period. Institutional investors own 67.77% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on TTD. Guggenheim cut their price objective on Trade Desk from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday. Truist Financial upped their price objective on shares of Trade Desk from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Friday. HSBC set a $75.00 target price on shares of Trade Desk and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Benchmark raised shares of Trade Desk from a "sell" rating to a "hold" rating in a research report on Friday, March 7th. Finally, Evercore ISI lowered Trade Desk from an "outperform" rating to an "inline" rating and lowered their price objective for the stock from $135.00 to $90.00 in a research report on Thursday, February 13th. 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.com, the company currently has an average rating of "Moderate Buy" and an average price target of $98.88.

Trade Desk Stock Up 18.6 %

TTD stock traded up $11.14 during midday trading on Friday, hitting $71.04. The company's stock had a trading volume of 48,867,132 shares, compared to its average volume of 5,755,272. The stock has a market cap of $35.24 billion, a price-to-earnings ratio of 91.08, a PEG ratio of 3.11 and a beta of 1.29. The stock's 50-day moving average price is $54.62 and its 200 day moving average price is $95.31. The Trade Desk, Inc. has a 1 year low of $42.96 and a 1 year high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share 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 net margin of 16.08% and a return on equity of 16.38%. The company's quarterly revenue was up 25.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 earnings per share. As a group, equities 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 of Directors has authorized a stock repurchase program on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its stock is undervalued.

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.