New York State Common Retirement Fund Cuts Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

New York State Common Retirement Fund decreased its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 6.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 259,702 shares of the technology company’s stock after selling 18,860 shares during the quarter. New York State Common Retirement Fund owned about 0.05% of Trade Desk worth $30,523,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Baillie Gifford & Co. raised its position in shares of Trade Desk by 4.7% in the third quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock valued at $4,245,218,000 after buying an additional 1,720,650 shares during the last quarter. Jennison Associates LLC raised its position in shares of Trade Desk by 11.0% in the third quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock valued at $2,228,172,000 after buying an additional 2,013,047 shares during the last quarter. Edgewood Management LLC raised its position in shares of Trade Desk by 133.3% in the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock valued at $1,089,280,000 after buying an additional 5,675,571 shares during the last quarter. FMR LLC raised its position in shares of Trade Desk by 1.3% in the third quarter. FMR LLC now owns 2,616,203 shares of the technology company’s stock valued at $286,867,000 after buying an additional 32,999 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Trade Desk by 3.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,109,380 shares of the technology company’s stock valued at $231,294,000 after buying an additional 68,206 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TTD has been the subject of a number of analyst reports. UBS Group upped their price objective on shares of Trade Desk from $116.00 to $148.00 and gave the company a “buy” rating in a report on Friday, February 14th. BTIG Research upped their price objective on shares of Trade Desk from $114.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada dropped their price objective on shares of Trade Desk from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Macquarie upped their price objective on shares of Trade Desk from $133.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Finally, Citigroup dropped their price objective on shares of Trade Desk from $140.00 to $108.00 and set a “buy” rating for the company in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $119.45.

Insiders Place Their Bets

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the firm’s 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 sale, the insider now owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the sale, the insider now directly owns 90,709 shares in the company, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,029 shares of company stock valued at $5,004,296. 9.72% of the stock is owned by corporate insiders.

Trade Desk Stock Down 1.3 %

Shares of NASDAQ:TTD opened at $75.73 on Friday. The firm’s 50 day moving average price is $116.48 and its 200 day moving average price is $114.96. The stock has a market cap of $37.38 billion, a price-to-earnings ratio of 97.09, a price-to-earnings-growth ratio of 3.28 and a beta of 1.45. The Trade Desk, Inc. has a fifty-two week low of $74.10 and a fifty-two week high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. On average, equities analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.