Zevenbergen Capital Investments LLC Sells 108,691 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Zevenbergen Capital Investments LLC lessened its position in The Trade Desk, Inc. (NASDAQ:TTD) by 4.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,091,383 shares of the technology company’s stock after selling 108,691 shares during the period. Trade Desk makes up 5.0% of Zevenbergen Capital Investments LLC’s investment portfolio, making the stock its 7th largest holding. Zevenbergen Capital Investments LLC owned 0.42% of Trade Desk worth $245,800,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in Trade Desk in the fourth quarter valued at $231,570,000. National Pension Service lifted its stake in shares of Trade Desk by 104.1% in the fourth quarter. National Pension Service now owns 1,264,985 shares of the technology company’s stock valued at $148,674,000 after purchasing an additional 645,240 shares during the period. Wellington Management Group LLP boosted its holdings in Trade Desk by 55.3% during the third quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company’s stock worth $169,892,000 after buying an additional 551,925 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in Trade Desk by 1,809.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 444,616 shares of the technology company’s stock worth $48,752,000 after buying an additional 421,333 shares during the period. Finally, Franklin Resources Inc. increased its holdings in Trade Desk by 326.1% in the third quarter. Franklin Resources Inc. now owns 509,495 shares of the technology company’s stock valued at $60,105,000 after buying an additional 389,917 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Insider Buying and Selling

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the transaction, the insider now directly owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This represents a 4.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the sale, the insider now directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 41,029 shares of company stock valued at $5,004,296. Company insiders own 9.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TTD shares. Citizens Jmp upgraded Trade Desk to a “strong-buy” rating in a report on Tuesday, January 21st. Wolfe Research upped their target price on Trade Desk from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Truist Financial cut their price target on Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Wedbush increased their price objective on shares of Trade Desk from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Finally, Needham & Company LLC restated a “buy” rating and set a $145.00 target price on shares of Trade Desk in a research report on Thursday, March 13th. Six equities research analysts have rated the stock with 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $116.41.

Trade Desk Price Performance

Trade Desk stock opened at $56.31 on Monday. The company has a market cap of $27.93 billion, a price-to-earnings ratio of 72.19, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 12 month low of $53.39 and a 12 month high of $141.53. The stock’s 50-day moving average is $91.14 and its 200-day moving average is $109.91.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS 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%. Research analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk announced that its board has initiated a stock repurchase program on Wednesday, February 12th that allows the company to buyback $564.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are 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.