The Trade Desk, Inc. (NASDAQ:TTD) Position Cut by Dark Forest Capital Management LP

Dark Forest Capital Management LP reduced its stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 39.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,497 shares of the technology company's stock after selling 54,128 shares during the period. Trade Desk accounts for 1.4% of Dark Forest Capital Management LP's holdings, making the stock its 3rd biggest holding. Dark Forest Capital Management LP's holdings in Trade Desk were worth $9,578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of TTD. Quantessence Capital LLC purchased a new stake in shares of Trade Desk in the 4th quarter worth approximately $589,000. Harvest Investment Services LLC purchased a new stake in Trade Desk during the fourth quarter worth $321,000. Alpine Global Management LLC purchased a new stake in Trade Desk during the fourth quarter worth $454,000. J. Safra Sarasin Holding AG boosted its position in Trade Desk by 18.7% during the 4th quarter. J. Safra Sarasin Holding AG now owns 162,197 shares of the technology company's stock valued at $19,063,000 after acquiring an additional 25,608 shares in the last quarter. Finally, Stifel Financial Corp increased its holdings in shares of Trade Desk by 10.0% in the 4th quarter. Stifel Financial Corp now owns 381,286 shares of the technology company's stock valued at $44,813,000 after acquiring an additional 34,804 shares during the period. 67.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TTD. DA Davidson dropped their price objective on Trade Desk from $134.00 to $103.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Cantor Fitzgerald lowered their price target on shares of Trade Desk from $115.00 to $100.00 and set a "neutral" rating on the stock in a report on Thursday, February 13th. Robert W. Baird reduced their price objective on shares of Trade Desk from $160.00 to $145.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Evercore ISI cut shares of Trade Desk from an "outperform" rating to an "inline" rating and decreased their target price for the company from $135.00 to $90.00 in a research report on Thursday, February 13th. Finally, UBS Group cut their price target on shares of Trade Desk from $116.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Seven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong 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 $101.34.

Insiders Place Their Bets

In other news, insider Samantha Jacobson sold 4,298 shares of the firm's stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the sale, the insider now owns 90,709 shares in the company, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 9.72% of the company's stock.

Trade Desk Stock Performance

Shares of NASDAQ:TTD traded up $0.70 during midday trading on Friday, reaching $53.97. 6,287,369 shares of the company's stock traded hands, compared to its average volume of 5,369,239. The company has a market cap of $26.77 billion, a P/E ratio of 69.19, a PEG ratio of 3.11 and a beta of 1.56. The company has a fifty day simple moving average of $57.70 and a two-hundred day simple moving average of $99.39. The Trade Desk, Inc. has a 1 year low of $42.96 and a 1 year high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing the consensus estimate 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, research analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk announced 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 purchase up to 0.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are 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.