Cresset Asset Management LLC Cuts Position in The Trade Desk, Inc. (NASDAQ:TTD)

Cresset Asset Management LLC trimmed its position in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 78.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,028 shares of the technology company's stock after selling 55,221 shares during the period. Cresset Asset Management LLC's holdings in Trade Desk were worth $1,766,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Rialto Wealth Management LLC bought a new position in Trade Desk during the fourth quarter worth $26,000. Harbor Investment Advisory LLC grew its position in shares of Trade Desk by 68.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company's stock valued at $34,000 after purchasing an additional 117 shares during the last quarter. Synergy Asset Management LLC acquired a new position in shares of Trade Desk in the fourth quarter valued at approximately $34,000. Midwest Capital Advisors LLC acquired a new position in shares of Trade Desk in the fourth quarter valued at approximately $34,000. Finally, Zions Bancorporation N.A. grew its position in shares of Trade Desk by 148.3% in the fourth 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 last quarter. 67.77% of the stock is currently owned by institutional investors.

Trade Desk Stock Performance

Shares of NASDAQ:TTD traded up $8.36 during midday trading on Monday, reaching $79.40. The company's stock had a trading volume of 32,452,875 shares, compared to its average volume of 5,868,214. The Trade Desk, Inc. has a fifty-two week low of $42.96 and a fifty-two week high of $141.53. The firm has a market capitalization of $39.39 billion, a price-to-earnings ratio of 101.79, a PEG ratio of 3.11 and a beta of 1.29. The firm has a 50 day moving average price of $54.62 and a two-hundred day moving average price of $94.99.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. The business had revenue of $616.02 million during the quarter, compared to analyst estimates of $575.62 million. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The firm's revenue was up 25.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.26 EPS. As a group, research analysts anticipate 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 share repurchase program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 0.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TTD. Wells Fargo & Company decreased their target price on Trade Desk from $101.00 to $72.00 and set an "overweight" rating on the stock in a research report on Monday, March 31st. KeyCorp increased their price target on Trade Desk from $67.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday. Citizens Jmp reduced their price target on Trade Desk from $115.00 to $100.00 and set an "outperform" rating on the stock in a research report on Friday. Rosenblatt Securities initiated coverage on Trade Desk in a research report on Tuesday, April 29th. They set a "buy" rating and a $77.00 price target on the stock. Finally, Loop Capital reduced their price target on Trade Desk from $145.00 to $101.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $98.88.

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.