The Trade Desk, Inc. (NASDAQ:TTD) Shares Sold by Granite Group Advisors LLC

Granite Group Advisors LLC lowered its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 17.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,768 shares of the technology company’s stock after selling 378 shares during the quarter. Granite Group Advisors LLC’s holdings in Trade Desk were worth $208,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. boosted its stake in Trade Desk by 35,100.0% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 1,056 shares of the technology company’s stock valued at $124,000 after acquiring an additional 1,053 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new stake in shares of Trade Desk in the 4th quarter valued at about $359,000. Jacksonville Wealth Management LLC acquired a new stake in shares of Trade Desk in the 4th quarter valued at about $1,318,000. Juncture Wealth Strategies LLC increased its position in Trade Desk by 2.2% during the fourth quarter. Juncture Wealth Strategies LLC now owns 6,639 shares of the technology company’s stock worth $780,000 after buying an additional 143 shares during the period. Finally, Linden Thomas Advisory Services LLC lifted its stake in Trade Desk by 6.5% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 24,394 shares of the technology company’s stock valued at $2,867,000 after buying an additional 1,479 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Analyst Ratings Changes

TTD has been the topic of a number of research reports. Oppenheimer raised their target price on shares of Trade Desk from $120.00 to $135.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Truist Financial lifted their price objective on shares of Trade Desk from $135.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Citigroup raised their price target on Trade Desk from $115.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. KeyCorp boosted their price objective on shares of Trade Desk from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. Finally, UBS Group lifted their target price on shares of Trade Desk from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $133.13.

Insider Activity at Trade Desk

In other news, CEO Jeffrey Terry Green sold 512,953 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $124.67, for a total transaction of $63,949,850.51. Following the completion of the sale, the chief executive officer now owns 243,476 shares in the company, valued at approximately $30,354,152.92. The trade was a 67.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the transaction, the insider now directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 549,684 shares of company stock worth $68,444,576. 9.72% of the stock is owned by company insiders.

Trade Desk Stock Performance

TTD stock opened at $119.96 on Monday. The Trade Desk, Inc. has a one year low of $66.56 and a one year high of $141.53. The stock has a market capitalization of $59.21 billion, a P/E ratio of 196.66, a PEG ratio of 3.82 and a beta of 1.45. The company has a 50 day moving average price of $125.84 and a two-hundred day moving average price of $113.66.

Trade Desk (NASDAQ:TTD) last released its earnings results on Thursday, November 7th. The technology company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.21). Trade Desk had a net margin of 13.34% and a return on equity of 13.17%. The business had revenue of $628.02 million during the quarter, compared to analyst estimates of $619.89 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. Research analysts forecast that The Trade Desk, Inc. will post 0.87 earnings per share for the current fiscal year.

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.