New York State Common Retirement Fund Sells 59,932 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

New York State Common Retirement Fund reduced its stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 14.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 368,456 shares of the technology company's stock after selling 59,932 shares during the quarter. New York State Common Retirement Fund owned 0.08% of Trade Desk worth $26,514,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Baron Wealth Management LLC purchased a new stake in Trade Desk during the third quarter valued at about $270,000. DAVENPORT & Co LLC lifted its holdings in Trade Desk by 28.4% during the third quarter. DAVENPORT & Co LLC now owns 4,005 shares of the technology company's stock valued at $313,000 after purchasing an additional 886 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in Trade Desk by 27.7% during the third quarter. Asset Management One Co. Ltd. now owns 219,832 shares of the technology company's stock valued at $17,180,000 after purchasing an additional 47,641 shares during the last quarter. Cannon Global Investment Management LLC purchased a new stake in Trade Desk during the third quarter valued at about $234,000. Finally, Linden Thomas Advisory Services LLC lifted its holdings in Trade Desk by 40.1% during the third quarter. Linden Thomas Advisory Services LLC now owns 19,128 shares of the technology company's stock valued at $1,495,000 after purchasing an additional 5,479 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Trade Desk Trading Up 1.7 %

Shares of NASDAQ:TTD traded up $1.39 during trading on Friday, reaching $84.73. 2,944,850 shares of the company traded hands, compared to its average volume of 2,656,220. The firm has a market capitalization of $41.43 billion, a price-to-earnings ratio of 235.37, a P/E/G ratio of 4.59 and a beta of 1.50. The Trade Desk, Inc. has a 52-week low of $60.23 and a 52-week high of $94.00. The business's fifty day moving average is $83.47 and its 200-day moving average is $75.73.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings data on Thursday, February 15th. The technology company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.24 by ($0.05). The company had revenue of $605.80 million for the quarter, compared to analysts' expectations of $582.61 million. Trade Desk had a net margin of 9.19% and a return on equity of 8.59%. On average, sell-side analysts predict that The Trade Desk, Inc. will post 0.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Seaport Res Ptn reiterated a "neutral" rating on shares of Trade Desk in a research report on Monday, February 12th. Royal Bank of Canada upped their price target on Trade Desk from $90.00 to $105.00 and gave the company an "outperform" rating in a research report on Friday, February 16th. Benchmark upped their price target on Trade Desk from $32.00 to $42.00 and gave the company a "sell" rating in a research report on Friday, February 16th. Needham & Company LLC reiterated a "buy" rating and set a $100.00 price target on shares of Trade Desk in a research report on Thursday, March 21st. Finally, Piper Sandler upped their price target on Trade Desk from $80.00 to $105.00 and gave the company an "overweight" rating in a research report on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $89.75.

Insider Activity

In related news, Director Kathryn E. Falberg sold 103,030 shares of the firm's stock in a transaction on Friday, March 8th. The stock was sold at an average price of $81.90, for a total value of $8,438,157.00. Following the completion of the sale, the director now owns 242,609 shares of the company's stock, valued at $19,869,677.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Kathryn E. Falberg sold 103,030 shares of the firm's stock in a transaction on Friday, March 8th. The stock was sold at an average price of $81.90, for a total value of $8,438,157.00. Following the completion of the sale, the director now owns 242,609 shares of the company's stock, valued at $19,869,677.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 75,000 shares of the firm's stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $81.77, for a total value of $6,132,750.00. Following the completion of the sale, the chief executive officer now directly owns 1,551,987 shares of the company's stock, valued at approximately $126,905,976.99. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 492,170 shares of company stock valued at $41,250,398. 10.18% of the stock is currently owned by company insiders.

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.