New York State Common Retirement Fund Has $26.51 Million Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

New York State Common Retirement Fund reduced its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 14.0% in the 4th quarter, Holdings Channel reports. The firm owned 368,456 shares of the technology company’s stock after selling 59,932 shares during the period. New York State Common Retirement Fund’s holdings in Trade Desk were worth $26,514,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. NBC Securities Inc. acquired a new position in Trade Desk during the third quarter valued at approximately $25,000. Catalyst Capital Advisors LLC acquired a new position in shares of Trade Desk during the third quarter worth $26,000. Cullen Frost Bankers Inc. acquired a new position in shares of Trade Desk during the third quarter worth $29,000. Level Financial Advisors Inc. increased its holdings in shares of Trade Desk by 50.0% during the fourth quarter. Level Financial Advisors Inc. now owns 450 shares of the technology company’s stock worth $32,000 after buying an additional 150 shares in the last quarter. Finally, Ancora Advisors LLC increased its holdings in shares of Trade Desk by 56.5% during the third quarter. Ancora Advisors LLC now owns 485 shares of the technology company’s stock worth $38,000 after buying an additional 175 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Trading Up 1.7 %

Shares of TTD opened at $84.73 on Friday. The stock has a market capitalization of $41.43 billion, a P/E ratio of 235.37, a price-to-earnings-growth ratio of 4.59 and a beta of 1.50. The firm’s fifty day simple moving average is $83.55 and its two-hundred day simple moving average is $75.73. The Trade Desk, Inc. has a 12 month low of $60.23 and a 12 month high of $94.00.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Thursday, February 15th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.05). The company had revenue of $605.80 million for the quarter, compared to the consensus estimate of $582.61 million. Trade Desk had a return on equity of 8.59% and a net margin of 9.19%. As a group, research analysts predict that The Trade Desk, Inc. will post 0.79 EPS for the current fiscal year.

Insider Transactions at Trade Desk

In other news, insider Jay R. Grant sold 2,136 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $89.53, for a total transaction of $191,236.08. Following the transaction, the insider now owns 139,794 shares of the company’s stock, valued at approximately $12,515,756.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Samantha Jacobson sold 15,006 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $83.57, for a total value of $1,254,051.42. Following the sale, the insider now owns 52,387 shares in the company, valued at approximately $4,377,981.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jay R. Grant sold 2,136 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $89.53, for a total transaction of $191,236.08. Following the completion of the sale, the insider now owns 139,794 shares in the company, valued at approximately $12,515,756.82. The disclosure for this sale can be found here. Insiders have sold 492,170 shares of company stock valued at $41,250,398 in the last 90 days. 10.18% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TTD has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of Trade Desk from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, January 17th. Piper Sandler upped their price target on shares of Trade Desk from $80.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Trade Desk in a report on Thursday, March 21st. Susquehanna upped their price target on shares of Trade Desk from $75.00 to $110.00 and gave the stock a “positive” rating in a report on Friday, February 16th. Finally, KeyCorp upped their price target on shares of Trade Desk from $84.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $89.75.

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.