Occudo Quantitative Strategies LP Trims Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Occudo Quantitative Strategies LP lowered its holdings in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 73.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,003 shares of the technology company's stock after selling 5,642 shares during the quarter. Occudo Quantitative Strategies LP's holdings in Trade Desk were worth $235,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Investment Advisors LLC purchased a new stake in shares of Trade Desk in the 4th quarter valued at $214,000. Assenagon Asset Management S.A. increased its holdings in 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 purchasing an additional 51,603 shares during the period. Kathmere Capital Management LLC increased its holdings in Trade Desk by 13.5% during the 4th quarter. Kathmere Capital Management LLC now owns 2,324 shares of the technology company's stock worth $273,000 after purchasing an additional 277 shares during the period. Park Avenue Securities LLC increased its holdings in Trade Desk by 15.8% during the 4th quarter. Park Avenue Securities LLC now owns 39,519 shares of the technology company's stock worth $4,645,000 after purchasing an additional 5,405 shares during the period. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in Trade Desk by 32.2% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 2,898 shares of the technology company's stock worth $341,000 after purchasing an additional 706 shares during the period. Hedge funds and other institutional investors own 67.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Citizens Jmp cut their price target on Trade Desk from $115.00 to $100.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Oppenheimer upped their price target on Trade Desk from $75.00 to $80.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Jefferies Financial Group set a $125.00 price target on Trade Desk and gave the stock a "buy" rating in a report on Tuesday, April 29th. Needham & Company LLC restated a "buy" rating and set a $84.00 price target on shares of Trade Desk in a report on Thursday. Finally, Robert W. Baird lowered their price objective on Trade Desk from $160.00 to $145.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $98.88.

Insiders Place Their Bets

In other news, CEO Jeffrey Terry Green sold 26,684 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the completion of the transaction, the chief executive officer now directly owns 17,018 shares of the company's stock, valued at approximately $1,361,950.54. This represents a 61.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director David B. Wells sold 28,638 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 66,985 shares of the company's stock, valued at approximately $5,350,761.80. This trade represents 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 insiders.

Trade Desk Stock Down 1.5%

Shares of NASDAQ TTD opened at $76.31 on Friday. The Trade Desk, Inc. has a 52-week low of $42.96 and a 52-week high of $141.53. The business has a 50-day moving average price of $56.12 and a 200 day moving average price of $93.89. The stock has a market cap of $37.86 billion, a PE ratio of 97.83, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.07. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The company had revenue of $616.02 million during the quarter, compared to analysts' expectations of $575.62 million. During the same period last year, the firm earned $0.26 EPS. The firm's revenue for the quarter was up 25.4% on a year-over-year basis. Sell-side analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its stock is 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.

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