The Trade Desk, Inc. (NASDAQ:TTD) Position Lessened by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS decreased its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 13.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 102,403 shares of the technology company’s stock after selling 15,675 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Trade Desk were worth $11,228,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in TTD. Duality Advisers LP raised its stake in Trade Desk by 141.1% during the 1st quarter. Duality Advisers LP now owns 28,827 shares of the technology company’s stock valued at $2,520,000 after acquiring an additional 16,871 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in Trade Desk by 59.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 88,836 shares of the technology company’s stock valued at $7,766,000 after acquiring an additional 33,049 shares in the last quarter. Quantbot Technologies LP raised its stake in Trade Desk by 299.3% during the 1st quarter. Quantbot Technologies LP now owns 27,792 shares of the technology company’s stock valued at $2,430,000 after acquiring an additional 20,831 shares in the last quarter. Empowered Funds LLC increased its position in shares of Trade Desk by 15.3% during the 1st quarter. Empowered Funds LLC now owns 12,400 shares of the technology company’s stock valued at $1,084,000 after purchasing an additional 1,643 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of Trade Desk by 149.6% during the 1st quarter. SG Americas Securities LLC now owns 19,991 shares of the technology company’s stock valued at $1,748,000 after purchasing an additional 11,981 shares during the period. Institutional investors own 67.77% of the company’s stock.

Wall Street Analyst Weigh In

TTD has been the topic of several research analyst reports. StockNews.com upgraded Trade Desk from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Macquarie lifted their price objective on Trade Desk from $115.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. Morgan Stanley boosted their price target on Trade Desk from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. KeyCorp lifted their price objective on Trade Desk from $115.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Finally, New Street Research lowered Trade Desk from a “neutral” rating to a “sell” rating and set a $86.00 price target on the stock. in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $115.60.

Trade Desk Stock Up 6.2 %

NASDAQ:TTD opened at $132.53 on Friday. The Trade Desk, Inc. has a 12-month low of $60.23 and a 12-month high of $132.65. The firm has a market capitalization of $65.15 billion, a P/E ratio of 265.06, a P/E/G ratio of 6.00 and a beta of 1.47. The stock’s fifty day simple moving average is $112.41 and its 200-day simple moving average is $100.68.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.03. The business had revenue of $584.55 million for the quarter, compared to analyst estimates of $578.03 million. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The firm’s revenue was up 25.9% on a year-over-year basis. During the same period last year, the company earned $0.07 EPS. As a group, equities research analysts expect that The Trade Desk, Inc. will post 0.86 earnings per share for the current year.

Insiders Place Their Bets

In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $117.89, for a total transaction of $159,740.95. Following the transaction, the director now directly owns 28,636 shares in the company, valued at approximately $3,375,898.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Jeffrey Terry Green sold 135,922 shares of Trade Desk stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $103.72, for a total value of $14,097,829.84. Following the sale, the chief executive officer now owns 664,261 shares of the company’s stock, valued at approximately $68,897,150.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $117.89, for a total value of $159,740.95. Following the completion of the sale, the director now directly owns 28,636 shares in the company, valued at approximately $3,375,898.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,557,897 shares of company stock worth $170,121,565. Corporate insiders own 9.72% of the company’s stock.

Trade Desk 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.