The Trade Desk, Inc. (NASDAQ:TTD) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System trimmed its holdings in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 2.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 693,546 shares of the technology company's stock after selling 16,028 shares during the period. California State Teachers Retirement System owned 0.14% of Trade Desk worth $81,512,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in TTD. Norges Bank acquired a new stake in shares of Trade Desk during the fourth quarter valued at about $524,187,000. Raymond James Financial Inc. purchased a new stake in shares of Trade Desk during the 4th quarter worth $231,570,000. Franklin Resources Inc. increased its holdings in Trade Desk by 265.9% in the fourth quarter. Franklin Resources Inc. now owns 1,864,386 shares of the technology company's stock valued at $219,121,000 after buying an additional 1,354,891 shares during the last quarter. FMR LLC raised its position in shares of Trade Desk by 44.8% during the 4th quarter. FMR LLC now owns 3,788,285 shares of the technology company's stock worth $445,237,000 after acquiring an additional 1,172,082 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Trade Desk during the 4th quarter worth approximately $100,658,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TTD has been the subject of several research reports. Oppenheimer reduced their price target on shares of Trade Desk from $135.00 to $115.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Robert W. Baird dropped their price objective on Trade Desk from $160.00 to $145.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Scotiabank decreased their price objective on shares of Trade Desk from $133.00 to $83.00 and set a "sector perform" rating on the stock in a report on Thursday, February 13th. Royal Bank of Canada dropped their target price on shares of Trade Desk from $120.00 to $100.00 and set an "outperform" rating for the company in a report on Monday, March 17th. Finally, Piper Sandler assumed coverage on shares of Trade Desk in a research note on Thursday, April 17th. They issued a "neutral" rating and a $55.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Trade Desk currently has an average rating of "Moderate Buy" and an average target price of $101.32.

Trade Desk Trading Down 1.1 %

TTD traded down $0.57 on Thursday, hitting $53.06. 8,824,234 shares of the company's stock traded hands, compared to its average volume of 5,418,203. The firm has a market cap of $26.32 billion, a price-to-earnings ratio of 68.03, a P/E/G ratio of 3.11 and a beta of 1.56. The Trade Desk, Inc. has a one year low of $42.96 and a one year high of $141.53. The company's 50 day simple moving average is $56.04 and its 200-day simple moving average is $97.77.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share (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, equities analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board 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.