Kayne Anderson Rudnick Investment Management LLC Has $151.93 Million Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Kayne Anderson Rudnick Investment Management LLC trimmed its position in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 5.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,292,728 shares of the technology company's stock after selling 69,527 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.26% of Trade Desk worth $151,934,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Focus Financial Network Inc. lifted 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 worth $456,000 after purchasing an additional 84 shares in the last quarter. RMR Wealth Builders raised its holdings in shares of Trade Desk by 0.8% during the 4th quarter. RMR Wealth Builders now owns 10,613 shares of the technology company's stock valued at $1,247,000 after buying an additional 89 shares during the period. Quotient Wealth Partners LLC lifted its position 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 acquiring an additional 94 shares in the last quarter. TFB Advisors LLC raised its stake in shares of Trade Desk by 2.6% during the fourth quarter. TFB Advisors LLC now owns 3,759 shares of the technology company's stock valued at $442,000 after purchasing an additional 94 shares during the period. Finally, Centurion Wealth Management LLC boosted 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 purchasing an additional 96 shares during the period. 67.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Samantha Jacobson sold 4,298 shares of the firm's stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the sale, the insider now owns 90,709 shares in the company, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 9.72% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TTD shares. BMO Capital Markets cut their price objective on shares of Trade Desk from $160.00 to $115.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Wolfe Research raised their price target on shares of Trade Desk from $140.00 to $155.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Susquehanna dropped their price target on shares of Trade Desk from $150.00 to $135.00 and set a "positive" rating for the company in a research note on Thursday, February 13th. KeyCorp reduced their price objective on shares of Trade Desk from $74.00 to $67.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Finally, Jefferies Financial Group reduced their target price on Trade Desk from $120.00 to $75.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $101.34.

Trade Desk Trading Up 1.7 %

NASDAQ TTD traded up $0.92 during trading on Friday, hitting $54.19. 3,854,369 shares of the company traded hands, compared to its average volume of 5,346,141. The company has a market capitalization of $26.88 billion, a P/E ratio of 69.52, a PEG ratio of 3.11 and a beta of 1.56. The business has a fifty day simple moving average of $58.22 and a 200 day simple moving average of $99.92. The Trade Desk, Inc. has a 12 month low of $42.96 and a 12 month high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. Equities research analysts predict that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its shares are undervalued.

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.