EFG Asset Management Americas Corp. Sells 6,299 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

EFG Asset Management Americas Corp. trimmed its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 16.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,694 shares of the technology company’s stock after selling 6,299 shares during the period. EFG Asset Management Americas Corp.’s holdings in Trade Desk were worth $3,725,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Farther Finance Advisors LLC lifted its holdings in shares of Trade Desk by 21.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,335 shares of the technology company’s stock worth $256,000 after acquiring an additional 417 shares during the last quarter. Concurrent Investment Advisors LLC lifted its position in Trade Desk by 4.9% during the third quarter. Concurrent Investment Advisors LLC now owns 9,222 shares of the technology company’s stock valued at $1,011,000 after acquiring an additional 434 shares during the last quarter. TFB Advisors LLC purchased a new position in Trade Desk during the 3rd quarter worth $402,000. AIA Group Ltd increased its holdings in shares of Trade Desk by 12.1% during the third quarter. AIA Group Ltd now owns 50,305 shares of the technology company’s stock valued at $5,516,000 after acquiring an additional 5,449 shares in the last quarter. Finally, CWA Asset Management Group LLC acquired a new stake in shares of Trade Desk during the third quarter worth $219,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TTD shares. Morgan Stanley lowered their price target on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Robert W. Baird decreased their target price on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Scotiabank decreased their target price on Trade Desk from $133.00 to $83.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. New Street Research upgraded Trade Desk from a “sell” rating to a “neutral” rating and upped their price target for the stock from $85.00 to $115.00 in a report on Monday, November 25th. Finally, Cantor Fitzgerald cut their price target on Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.45.

Trade Desk Trading Down 2.3 %

Shares of TTD opened at $64.98 on Friday. The stock’s 50-day moving average price is $106.24 and its two-hundred day moving average price is $113.67. The Trade Desk, Inc. has a 12 month low of $64.56 and a 12 month high of $141.53. The company has a market capitalization of $32.24 billion, a PE ratio of 83.31, a PEG ratio of 3.11 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. Equities research analysts predict that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its board has approved a share buyback plan on Wednesday, February 12th that allows the company to buyback $564.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 0.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

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

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.