The Trade Desk, Inc. (NASDAQ:TTD) Shares Sold by NZS Capital LLC

NZS Capital LLC lessened its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 17.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 153,998 shares of the technology company's stock after selling 31,631 shares during the period. NZS Capital LLC's holdings in Trade Desk were worth $18,099,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of TTD. Lyell Wealth Management LP lifted its stake in Trade Desk by 24.3% in the 4th quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company's stock worth $11,558,000 after purchasing an additional 19,204 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Trade Desk by 36.2% during the 4th quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company's stock worth $159,132,000 after buying an additional 358,350 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Trade Desk by 276.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company's stock worth $8,255,000 after buying an additional 51,603 shares during the last quarter. Independent Solutions Wealth Management LLC increased its holdings in shares of Trade Desk by 21.0% during the 3rd quarter. Independent Solutions Wealth Management LLC now owns 64,358 shares of the technology company's stock worth $7,057,000 after buying an additional 11,181 shares during the last quarter. Finally, Moody National Bank Trust Division acquired a new stake in shares of Trade Desk during the 4th quarter worth approximately $985,000. Institutional investors and hedge funds own 67.77% of the company's stock.

Trade Desk Stock Performance

Trade Desk stock traded down $1.04 during mid-day trading on Wednesday, reaching $53.63. 5,435,324 shares of the company were exchanged, compared to its average volume of 5,396,252. The firm's 50-day simple moving average is $56.47 and its two-hundred day simple moving average is $98.21. The firm has a market cap of $26.61 billion, a PE ratio of 68.76, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56. The Trade Desk, Inc. has a twelve month low of $42.96 and a twelve month high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS 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%. As a group, equities research analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current year.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TTD shares. HSBC set a $75.00 price target on shares of Trade Desk and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Rosenblatt Securities began coverage on shares of Trade Desk in a report on Tuesday. They issued a "buy" rating and a $77.00 target price for the company. Wells Fargo & Company dropped their target price on shares of Trade Desk from $101.00 to $72.00 and set an "overweight" rating for the company in a report on Monday, March 31st. Benchmark upgraded shares of Trade Desk from a "sell" rating to a "hold" rating in a report on Friday, March 7th. Finally, Jefferies Financial Group set a $125.00 target price on shares of Trade Desk and gave the company a "buy" rating in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $101.32.

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.