The Trade Desk, Inc. (NASDAQ:TTD) Holdings Lowered by Shellback Capital LP

Shellback Capital LP lowered its stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 88.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,000 shares of the technology company's stock after selling 110,000 shares during the quarter. Shellback Capital LP's holdings in Trade Desk were worth $1,763,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Rialto Wealth Management LLC purchased a new position in shares of Trade Desk during the fourth quarter valued at $26,000. Harbor Investment Advisory LLC boosted its position in Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company's stock worth $34,000 after acquiring an additional 117 shares during the period. Midwest Capital Advisors LLC purchased a new position in Trade Desk during the 4th quarter valued at about $34,000. Zions Bancorporation N.A. increased its holdings in shares of Trade Desk by 148.3% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock valued at $34,000 after purchasing an additional 175 shares during the period. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Trade Desk in the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 67.77% of the company's stock.

Trade Desk Price Performance

NASDAQ:TTD opened at $77.50 on Friday. The Trade Desk, Inc. has a one year low of $42.96 and a one year high of $141.53. The company has a fifty day moving average price of $55.77 and a 200 day moving average price of $94.21. The stock has a market cap of $38.45 billion, a P/E ratio of 99.36, a PEG ratio of 3.11 and a beta of 1.29.

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

Trade Desk declared that its board has approved a stock buyback program 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 stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Benchmark upgraded shares of Trade Desk from a "sell" rating to a "hold" rating in a research note on Friday, March 7th. Cantor Fitzgerald dropped their price target on shares of Trade Desk from $115.00 to $100.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Wells Fargo & Company reduced their price objective on Trade Desk from $101.00 to $72.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. Piper Sandler upped their target price on Trade Desk from $55.00 to $65.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Finally, Oppenheimer raised their price target on Trade Desk from $75.00 to $80.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Seven research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $98.88.

Insiders Place Their Bets

In other news, CEO Jeffrey Terry Green sold 26,684 shares of the firm's 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 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 trade represents a 61.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David B. Wells sold 28,638 shares of Trade Desk stock in a transaction dated 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 sale, the director now owns 66,985 shares in the company, 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. Corporate insiders own 9.74% of the company's stock.

Trade Desk Company 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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