Kornitzer Capital Management Inc. KS Cuts Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Kornitzer Capital Management Inc. KS lowered its position in The Trade Desk, Inc. (NASDAQ:TTD) by 8.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 145,878 shares of the technology company’s stock after selling 14,070 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Trade Desk were worth $10,497,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. J.W. Cole Advisors Inc. grew its position in shares of Trade Desk by 5.0% in the 4th quarter. J.W. Cole Advisors Inc. now owns 3,979 shares of the technology company’s stock worth $286,000 after buying an additional 190 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Trade Desk by 58.2% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949 shares of the technology company’s stock worth $68,000 after buying an additional 349 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Trade Desk by 0.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 51,663 shares of the technology company’s stock worth $3,717,000 after purchasing an additional 473 shares in the last quarter. Key Financial Inc boosted its stake in Trade Desk by 2,900.0% in the 4th quarter. Key Financial Inc now owns 1,200 shares of the technology company’s stock worth $86,000 after purchasing an additional 1,160 shares in the last quarter. Finally, Rakuten Securities Inc. acquired a new stake in Trade Desk in the 4th quarter worth approximately $63,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Trade Desk from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 17th. Truist Financial lifted their price objective on shares of Trade Desk from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Stifel Nicolaus lifted their price objective on shares of Trade Desk from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Stephens restated an “overweight” rating and set a $85.00 price objective on shares of Trade Desk in a research note on Friday, February 16th. Finally, Royal Bank of Canada lifted their price objective on shares of Trade Desk from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, Trade Desk has an average rating of “Moderate Buy” and an average target price of $89.75.

Insider Buying and Selling

In related news, CEO Jeffrey Terry Green sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $86.41, for a total transaction of $224,666.00. Following the sale, the chief executive officer now directly owns 974,022 shares in the company, valued at $84,165,241.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Trade Desk news, Director Kathryn E. Falberg sold 103,030 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $81.90, for a total value of $8,438,157.00. Following the transaction, the director now directly owns 242,609 shares in the company, valued at $19,869,677.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey Terry Green sold 2,600 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $86.41, for a total transaction of $224,666.00. Following the completion of the transaction, the chief executive officer now owns 974,022 shares in the company, valued at $84,165,241.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 492,170 shares of company stock worth $41,250,398. Company insiders own 10.81% of the company’s stock.

Trade Desk Stock Performance

Shares of TTD traded down $3.51 during mid-day trading on Friday, hitting $77.30. 3,113,783 shares of the company’s stock were exchanged, compared to its average volume of 2,522,256. The company has a market cap of $37.80 billion, a price-to-earnings ratio of 214.73, a P/E/G ratio of 4.45 and a beta of 1.50. The Trade Desk, Inc. has a fifty-two week low of $59.36 and a fifty-two week high of $94.00. The stock’s 50-day moving average is $82.97 and its 200-day moving average is $75.66.

Trade Desk (NASDAQ:TTD) last released its earnings results on Thursday, February 15th. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.05). Trade Desk had a return on equity of 8.59% and a net margin of 9.19%. The firm had revenue of $605.80 million for the quarter, compared to analysts’ expectations of $582.61 million. As a group, equities research analysts anticipate that The Trade Desk, Inc. will post 0.79 EPS for the current year.

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.