PGGM Investments Trims Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

PGGM Investments lessened its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 19.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,733 shares of the technology company’s stock after selling 2,855 shares during the quarter. PGGM Investments’ holdings in Trade Desk were worth $844,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Baron Wealth Management LLC purchased a new stake in Trade Desk during the third quarter valued at about $270,000. DAVENPORT & Co LLC boosted its stake in shares of Trade Desk by 28.4% during the third quarter. DAVENPORT & Co LLC now owns 4,005 shares of the technology company’s stock valued at $313,000 after purchasing an additional 886 shares during the period. Balboa Wealth Partners bought a new position in shares of Trade Desk in the third quarter worth approximately $352,000. Robeco Institutional Asset Management B.V. increased its position in shares of Trade Desk by 41.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 207,465 shares of the technology company’s stock valued at $16,213,000 after acquiring an additional 60,503 shares during the period. Finally, Xponance Inc. grew its stake in shares of Trade Desk by 2.0% in the third quarter. Xponance Inc. now owns 63,317 shares of the technology company’s stock worth $4,948,000 after purchasing an additional 1,236 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Insider Buying and Selling

In other news, CEO Jeffrey Terry Green sold 75,000 shares of Trade Desk stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $81.77, for a total transaction of $6,132,750.00. Following the transaction, the chief executive officer now directly owns 1,551,987 shares of the company’s stock, valued at approximately $126,905,976.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Jeffrey Terry Green sold 75,000 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $81.77, for a total value of $6,132,750.00. Following the completion of the sale, the chief executive officer now directly owns 1,551,987 shares of the company’s stock, valued at $126,905,976.99. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jay R. Grant sold 2,136 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $89.53, for a total transaction of $191,236.08. Following the sale, the insider now owns 139,794 shares in the company, valued at $12,515,756.82. The disclosure for this sale can be found here. In the last three months, insiders have sold 492,170 shares of company stock valued at $41,250,398. 10.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TTD has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price objective on shares of Trade Desk from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, January 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Trade Desk in a research report on Thursday, March 21st. BTIG Research increased their target price on Trade Desk from $91.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Truist Financial raised their target price on Trade Desk from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Finally, Stifel Nicolaus increased their price objective on Trade Desk from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Trade Desk has an average rating of “Moderate Buy” and a consensus target price of $89.75.

Trade Desk Stock Performance

Shares of NASDAQ:TTD opened at $84.50 on Tuesday. The stock’s 50-day simple moving average is $83.47 and its two-hundred day simple moving average is $75.60. The stock has a market capitalization of $41.32 billion, a price-to-earnings ratio of 234.73, a PEG ratio of 4.67 and a beta of 1.50. The Trade Desk, Inc. has a 52-week low of $60.23 and a 52-week high of $94.00.

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

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.