The Trade Desk, Inc. (NASDAQ:TTD) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC trimmed its position in The Trade Desk, Inc. (NASDAQ:TTD) by 78.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,028 shares of the technology company’s stock after selling 55,221 shares during the period. Cresset Asset Management LLC’s holdings in Trade Desk were worth $1,766,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BOKF NA boosted its stake in Trade Desk by 408.0% during the fourth quarter. BOKF NA now owns 17,201 shares of the technology company’s stock valued at $2,043,000 after buying an additional 13,815 shares in the last quarter. Brevan Howard Capital Management LP bought a new position in shares of Trade Desk during the 4th quarter valued at about $7,595,000. Captrust Financial Advisors grew its stake in shares of Trade Desk by 59.4% in the 4th quarter. Captrust Financial Advisors now owns 22,958 shares of the technology company’s stock worth $2,698,000 after purchasing an additional 8,554 shares during the last quarter. Cary Street Partners Financial LLC bought a new stake in shares of Trade Desk in the 4th quarter worth approximately $629,000. Finally, Brown Advisory Inc. lifted its stake in Trade Desk by 3,037.0% during the fourth quarter. Brown Advisory Inc. now owns 2,714,955 shares of the technology company’s stock valued at $319,089,000 after purchasing an additional 2,628,409 shares during the last quarter. 67.77% of the stock is owned by institutional investors.

Trade Desk Stock Performance

TTD opened at $71.04 on Friday. The firm has a market cap of $35.24 billion, a P/E ratio of 91.08, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29. The business has a 50 day moving average price of $54.62 and a 200 day moving average price of $95.16. The Trade Desk, Inc. has a twelve month low of $42.96 and a twelve month high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The business had revenue of $616.02 million during the quarter, compared to analysts’ expectations of $575.62 million. During the same period in the previous year, the company earned $0.26 earnings per share. Trade Desk’s revenue for the quarter was up 25.4% on a year-over-year basis. As a group, analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its board has approved a share repurchase program on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to purchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have issued reports on TTD. Truist Financial upped their price target on Trade Desk from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday. DA Davidson cut their target price on Trade Desk from $103.00 to $92.00 and set a “buy” rating on the stock in a research report on Friday. Cfra Research upgraded Trade Desk to a “moderate buy” rating in a research report on Tuesday, March 25th. Benchmark upgraded Trade Desk from a “sell” rating to a “hold” rating in a report on Friday, March 7th. Finally, Citizens Jmp reduced their price objective on shares of Trade Desk from $115.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday. Seven research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.88.

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.