AQR Capital Management LLC Sells 14,040 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

AQR Capital Management LLC lowered its stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 6.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 203,931 shares of the technology company's stock after selling 14,040 shares during the period. AQR Capital Management LLC's holdings in Trade Desk were worth $23,968,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on TTD. KeyCorp dropped their target price on Trade Desk from $74.00 to $67.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Piper Sandler began coverage on shares of Trade Desk in a research report on Thursday, April 17th. They issued a "neutral" rating and a $55.00 target price for the company. Cfra Research upgraded shares of Trade Desk to a "moderate buy" rating in a research note on Tuesday, March 25th. Scotiabank reduced their price objective on Trade Desk from $133.00 to $83.00 and set a "sector perform" rating for the company in a research report on Thursday, February 13th. Finally, Rosenblatt Securities began coverage on Trade Desk in a research report on Tuesday, April 29th. They issued a "buy" rating and a $77.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Trade Desk currently has a consensus rating of "Moderate Buy" and an average price target of $100.84.

Trade Desk Stock Up 1.5 %

Shares of Trade Desk stock traded up $0.83 during midday trading on Wednesday, hitting $56.46. The company's stock had a trading volume of 8,536,268 shares, compared to its average volume of 5,512,768. The Trade Desk, Inc. has a 1-year low of $42.96 and a 1-year high of $141.53. The firm has a market capitalization of $28.01 billion, a P/E ratio of 72.38, a PEG ratio of 3.11 and a beta of 1.29. The stock has a 50-day simple moving average of $54.97 and a 200-day simple moving average of $96.31.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. As a group, sell-side analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its board has initiated a share repurchase plan on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback plans are typically an indication 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.