Lazard Asset Management LLC Reduces Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Lazard Asset Management LLC reduced its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 35.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,869 shares of the technology company’s stock after selling 9,981 shares during the period. Lazard Asset Management LLC’s holdings in Trade Desk were worth $2,099,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in TTD. Assenagon Asset Management S.A. boosted its holdings in shares of Trade Desk by 276.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company’s stock valued at $8,255,000 after acquiring an additional 51,603 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in Trade Desk by 32.2% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 2,898 shares of the technology company’s stock worth $341,000 after buying an additional 706 shares in the last quarter. Avanza Fonder AB purchased a new stake in Trade Desk during the fourth quarter worth $1,117,000. Merit Financial Group LLC boosted its holdings in Trade Desk by 16.8% during the fourth quarter. Merit Financial Group LLC now owns 6,870 shares of the technology company’s stock worth $807,000 after buying an additional 989 shares in the last quarter. Finally, Arthur M. Cohen & Associates LLC boosted its holdings in Trade Desk by 18.4% during the fourth quarter. Arthur M. Cohen & Associates LLC now owns 6,435 shares of the technology company’s stock worth $756,000 after buying an additional 1,000 shares in the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Trade Desk Trading Down 1.5%

Trade Desk stock opened at $76.31 on Friday. The Trade Desk, Inc. has a 12-month low of $42.96 and a 12-month high of $141.53. The stock has a market cap of $37.86 billion, a P/E ratio of 97.83, a PEG ratio of 3.11 and a beta of 1.29. The company has a 50-day moving average price of $56.12 and a 200 day moving average price of $93.70.

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

Trade Desk declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

TTD has been the topic of a number of recent analyst reports. Truist Financial increased their price target on shares of Trade Desk from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Cantor Fitzgerald lowered their price target on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. DA Davidson lowered their price target on shares of Trade Desk from $103.00 to $92.00 and set a “buy” rating on the stock in a report on Friday, May 9th. BMO Capital Markets lowered their price target on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, Citizens Jmp lowered their price target on shares of Trade Desk from $115.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, May 9th. Seven investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.88.

Insider Buying and Selling

In other Trade Desk news, CEO Jeffrey Terry Green sold 26,684 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the completion of the transaction, the chief executive officer now owns 17,018 shares of the company’s stock, valued at $1,361,950.54. This trade represents a 61.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David B. Wells sold 28,638 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the transaction, the director now directly owns 66,985 shares of the company’s stock, valued at approximately $5,350,761.80. This trade represents a 29.95% decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is owned by company insiders.

Trade Desk Profile

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.