California Public Employees Retirement System Decreases Position in The Trade Desk, Inc. (NASDAQ:TTD)

California Public Employees Retirement System trimmed its position in shares of The Trade Desk, Inc. (NASDAQ:TTDGet Rating) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 946,417 shares of the technology company’s stock after selling 9,935 shares during the quarter. California Public Employees Retirement System’s holdings in Trade Desk were worth $86,730,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Morgan Stanley raised its holdings in shares of Trade Desk by 21.6% in the third quarter. Morgan Stanley now owns 25,373,248 shares of the technology company’s stock worth $1,783,739,000 after acquiring an additional 4,509,355 shares during the last quarter. LPL Financial LLC raised its holdings in shares of Trade Desk by 6.3% in the third quarter. LPL Financial LLC now owns 590,558 shares of the technology company’s stock worth $41,516,000 after acquiring an additional 35,165 shares during the last quarter. Bedel Financial Consulting Inc. raised its holdings in shares of Trade Desk by 9.8% in the fourth quarter. Bedel Financial Consulting Inc. now owns 2,250 shares of the technology company’s stock worth $206,000 after acquiring an additional 200 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Trade Desk by 12.4% in the fourth quarter. CIBC Asset Management Inc now owns 21,722 shares of the technology company’s stock worth $1,991,000 after acquiring an additional 2,403 shares during the last quarter. Finally, Quest Investment Management LLC raised its holdings in shares of Trade Desk by 16.9% in the third quarter. Quest Investment Management LLC now owns 195,336 shares of the technology company’s stock worth $13,732,000 after acquiring an additional 28,265 shares during the last quarter. Institutional investors own 63.40% of the company’s stock.

Shares of NASDAQ TTD opened at $44.99 on Tuesday. The Trade Desk, Inc. has a 1-year low of $42.78 and a 1-year high of $114.09. The business has a 50-day moving average of $64.85 and a 200-day moving average of $77.65. The company has a market capitalization of $21.81 billion, a price-to-earnings ratio of 157.86, a PEG ratio of 11.17 and a beta of 2.15.

Trade Desk (NASDAQ:TTDGet Rating) last issued its earnings results on Wednesday, February 16th. The technology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.07). Trade Desk had a return on equity of 10.77% and a net margin of 11.51%. The company had revenue of $395.60 million during the quarter, compared to analysts’ expectations of $389.64 million. During the same period in the previous year, the company earned $0.29 EPS. Trade Desk’s quarterly revenue was up 23.7% on a year-over-year basis. Sell-side analysts expect that The Trade Desk, Inc. will post 0.18 earnings per share for the current fiscal year.

In related news, Director Eric B. Paley sold 7,500 shares of the stock in a transaction dated Tuesday, March 1st. The stock was sold at an average price of $83.16, for a total value of $623,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Blake Jeffrey Grayson sold 9,633 shares of the stock in a transaction dated Wednesday, February 16th. The shares were sold at an average price of $74.05, for a total value of $713,323.65. The disclosure for this sale can be found here. Insiders sold 23,217 shares of company stock valued at $1,778,114 in the last ninety days. Company insiders own 10.79% of the company’s stock.

TTD has been the subject of several analyst reports. KeyCorp dropped their target price on Trade Desk from $102.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, April 20th. Susquehanna Bancshares upped their target price on Trade Desk from $115.00 to $125.00 and gave the company a “positive” rating in a research note on Thursday, February 17th. Guggenheim initiated coverage on Trade Desk in a research note on Wednesday, March 2nd. They issued a “buy” rating and a $108.00 target price for the company. Benchmark initiated coverage on Trade Desk in a research note on Tuesday, March 1st. They issued a “hold” rating for the company. Finally, StockNews.com initiated coverage on Trade Desk in a research note on Thursday, March 31st. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $97.61.

Trade Desk Company Profile (Get Rating)

Trade Desk, Inc operates as a technology company in the United States and internationally. The company operates a self-service cloud-based platform that allows buyers to create, manage, and optimize data-driven digital advertising campaigns across various ad formats and channels, including display, video, audio, native, and social on various devices, such as computers, mobile devices, and connected TV.

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Institutional Ownership by Quarter for Trade Desk (NASDAQ:TTD)

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