Rafferty Asset Management LLC Lowers Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Rafferty Asset Management LLC cut its stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 102,805 shares of the technology company's stock after selling 4,369 shares during the quarter. Rafferty Asset Management LLC's holdings in Trade Desk were worth $12,083,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Trade Desk by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company's stock worth $5,015,035,000 after acquiring an additional 253,137 shares during the last quarter. Invesco Ltd. increased its stake in Trade Desk by 2.6% in the fourth quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company's stock worth $930,477,000 after purchasing an additional 198,822 shares during the period. Norges Bank bought a new stake in shares of Trade Desk during the fourth quarter worth $524,187,000. FMR LLC boosted its stake in shares of Trade Desk by 44.8% during the fourth quarter. FMR LLC now owns 3,788,285 shares of the technology company's stock valued at $445,237,000 after purchasing an additional 1,172,082 shares during the period. Finally, Bank of America Corp DE grew its holdings in shares of Trade Desk by 13.2% in the fourth quarter. Bank of America Corp DE now owns 3,591,849 shares of the technology company's stock worth $422,150,000 after purchasing an additional 418,911 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Trade Desk Trading Up 0.0%

Shares of TTD stock traded up $0.01 during trading hours on Monday, reaching $76.32. 4,813,218 shares of the company's stock were exchanged, compared to its average volume of 5,939,225. The Trade Desk, Inc. has a 1 year low of $42.96 and a 1 year high of $141.53. The stock has a market cap of $37.86 billion, a PE ratio of 97.85, a PEG ratio of 3.11 and a beta of 1.29. The stock's fifty day moving average price is $56.12 and its two-hundred day moving average price is $93.51.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The company had revenue of $616.02 million for the quarter, compared to the consensus estimate of $575.62 million. During the same quarter in the previous year, the firm earned $0.26 EPS. Trade Desk's revenue was up 25.4% compared to the same quarter last year. On average, equities analysts expect that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its board 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 often a sign that the company's management believes its stock is undervalued.

Insider Transactions at Trade Desk

In related news, Director David B. Wells sold 28,638 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total value of $2,287,603.44. Following the completion of the transaction, the director now owns 66,985 shares in the company, valued at $5,350,761.80. This trade represents a 29.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeffrey Terry Green sold 26,684 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $80.03, for a total value of $2,135,520.52. Following the completion of the transaction, the chief executive officer now directly owns 17,018 shares in the company, valued at $1,361,950.54. This represents a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.74% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on TTD shares. Rosenblatt Securities began coverage on shares of Trade Desk in a report on Tuesday, April 29th. They set a "buy" rating and a $77.00 price objective for the company. KeyCorp raised their target price on shares of Trade Desk from $67.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Susquehanna lowered their price target on Trade Desk from $150.00 to $135.00 and set a "positive" rating for the company in a report on Thursday, February 13th. BMO Capital Markets dropped their price objective on Trade Desk from $160.00 to $115.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Finally, DA Davidson reduced their price objective on Trade Desk from $103.00 to $92.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Seven analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat, Trade Desk presently has an average rating of "Moderate Buy" and an average price target of $97.12.

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.