Canada Pension Plan Investment Board Sells 91,793 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Canada Pension Plan Investment Board lowered its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 27.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 241,607 shares of the technology company’s stock after selling 91,793 shares during the period. Canada Pension Plan Investment Board’s holdings in Trade Desk were worth $21,121,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Jennison Associates LLC increased its position in Trade Desk by 91.7% during the fourth quarter. Jennison Associates LLC now owns 14,586,150 shares of the technology company’s stock valued at $1,049,619,000 after acquiring an additional 6,978,352 shares during the last quarter. Norges Bank bought a new position in shares of Trade Desk in the 4th quarter worth approximately $255,316,000. International Assets Investment Management LLC boosted its holdings in shares of Trade Desk by 6,600.0% in the fourth quarter. International Assets Investment Management LLC now owns 1,091,561 shares of the technology company’s stock worth $78,549,000 after buying an additional 1,075,269 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Trade Desk by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock worth $3,003,666,000 after buying an additional 818,568 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Trade Desk by 81.8% during the fourth quarter. Victory Capital Management Inc. now owns 1,465,701 shares of the technology company’s stock valued at $105,472,000 after buying an additional 659,337 shares during the period. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, CFO Laura Schenkein sold 43,705 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $95.38, for a total value of $4,168,582.90. Following the completion of the sale, the chief financial officer now directly owns 703,038 shares in the company, valued at $67,055,764.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Jeffrey Terry Green sold 75,000 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $84.47, for a total transaction of $6,335,250.00. Following the transaction, the chief executive officer now directly owns 824,022 shares in the company, valued at approximately $69,605,138.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Laura Schenkein sold 43,705 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $95.38, for a total value of $4,168,582.90. Following the completion of the sale, the chief financial officer now owns 703,038 shares of the company’s stock, valued at $67,055,764.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 288,909 shares of company stock valued at $27,162,851. 10.18% of the stock is currently owned by insiders.

Trade Desk Stock Up 1.7 %

TTD stock traded up $1.55 during trading on Friday, hitting $92.43. 2,700,022 shares of the company’s stock traded hands, compared to its average volume of 3,455,347. The firm has a market capitalization of $45.21 billion, a P/E ratio of 231.08, a PEG ratio of 4.65 and a beta of 1.48. The Trade Desk, Inc. has a 1 year low of $60.23 and a 1 year high of $102.67. The business has a fifty day simple moving average of $96.63 and a two-hundred day simple moving average of $85.79.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. The business had revenue of $491.25 million for the quarter, compared to the consensus estimate of $480.03 million. Trade Desk had a return on equity of 9.41% and a net margin of 9.80%. On average, equities research analysts predict that The Trade Desk, Inc. will post 0.85 EPS for the current fiscal year.

Analysts Set New Price Targets

TTD has been the topic of several analyst reports. Jefferies Financial Group upgraded shares of Trade Desk from a “hold” rating to a “buy” rating and lifted their price target for the stock from $95.00 to $105.00 in a research note on Thursday, May 2nd. Royal Bank of Canada lifted their price objective on Trade Desk from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. BMO Capital Markets reiterated an “outperform” rating and issued a $108.00 price target (up previously from $107.00) on shares of Trade Desk in a research note on Thursday, May 9th. Oppenheimer upped their price objective on Trade Desk from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Finally, Stifel Nicolaus increased their price objective on shares of Trade Desk from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, Trade Desk has an average rating of “Moderate Buy” and an average target price of $100.38.

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.