Steadfast Capital Management LP Sells 476,500 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Steadfast Capital Management LP lowered its stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 90.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 49,900 shares of the technology company's stock after selling 476,500 shares during the period. Steadfast Capital Management LP's holdings in Trade Desk were worth $5,865,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of TTD. Focus Financial Network Inc. increased its stake in shares of Trade Desk by 2.2% in the 4th quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company's stock valued at $456,000 after purchasing an additional 84 shares during the last quarter. Quotient Wealth Partners LLC grew its position in Trade Desk by 4.2% in the fourth quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company's stock valued at $276,000 after acquiring an additional 94 shares during the last quarter. TFB Advisors LLC raised its stake in Trade Desk by 2.6% during the fourth quarter. TFB Advisors LLC now owns 3,759 shares of the technology company's stock worth $442,000 after acquiring an additional 94 shares in the last quarter. Centurion Wealth Management LLC lifted its holdings 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 worth $443,000 after acquiring an additional 96 shares during the last quarter. Finally, Values First Advisors Inc. boosted its stake in shares of Trade Desk by 0.9% in the 4th quarter. Values First Advisors Inc. now owns 11,892 shares of the technology company's stock valued at $1,398,000 after purchasing an additional 107 shares in the last quarter. Institutional investors own 67.77% of the company's stock.

Insider Buying and Selling

In other Trade Desk news, Director David B. Wells sold 28,638 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the transaction, the director now owns 66,985 shares in the company, valued at approximately $5,350,761.80. This represents a 29.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 26,684 shares of Trade Desk stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the transaction, the chief executive officer now owns 17,018 shares of the company's stock, valued at $1,361,950.54. This represents a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.74% of the stock is owned by company insiders.

Trade Desk Price Performance

Shares of Trade Desk stock traded up $0.01 during trading on Monday, reaching $76.32. 4,813,218 shares of the company traded hands, compared to its average volume of 5,939,225. The firm has a market capitalization of $37.86 billion, a PE ratio of 97.85, a P/E/G ratio of 3.11 and a beta of 1.29. The Trade Desk, Inc. has a 1-year low of $42.96 and a 1-year high of $141.53. The company has a 50 day moving average price of $56.44 and a 200-day moving average price of $93.21.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.07. The firm had revenue of $616.02 million during the quarter, compared to the consensus estimate of $575.62 million. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The business's revenue was up 25.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.26 earnings per share. Equities research analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in shares. This repurchase authorization authorizes the technology company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. DA Davidson dropped their price objective on shares of Trade Desk from $103.00 to $92.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Citigroup increased their price target on Trade Desk from $63.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Jefferies Financial Group set a $125.00 price objective on Trade Desk and gave the company a "buy" rating in a report on Tuesday, April 29th. Loop Capital lowered their target price on Trade Desk from $145.00 to $101.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Finally, Truist Financial increased their target price on Trade Desk from $95.00 to $100.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $97.12.

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.