Edmond DE Rothschild Holding S.A. Cuts Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Edmond DE Rothschild Holding S.A. trimmed its position in The Trade Desk, Inc. (NASDAQ:TTD) by 10.3% during the 4th quarter, HoldingsChannel reports. The firm owned 19,500 shares of the technology company’s stock after selling 2,231 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in Trade Desk were worth $2,292,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in Trade Desk during the fourth quarter valued at $524,187,000. Raymond James Financial Inc. bought a new stake in shares of Trade Desk in the 4th quarter worth about $231,570,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Trade Desk in the 4th quarter worth about $100,658,000. National Pension Service raised its position in shares of Trade Desk by 104.1% during the 4th quarter. National Pension Service now owns 1,264,985 shares of the technology company’s stock valued at $148,674,000 after buying an additional 645,240 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Trade Desk by 55.3% in the 3rd quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company’s stock valued at $169,892,000 after acquiring an additional 551,925 shares during the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the sale, the insider now owns 90,709 shares in the company, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total value of $2,283,886.08. Following the transaction, the chief executive officer now owns 704,229 shares in the company, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.72% of the company’s stock.

Trade Desk Stock Down 2.0 %

Trade Desk stock opened at $54.72 on Tuesday. The Trade Desk, Inc. has a twelve month low of $52.90 and a twelve month high of $141.53. The business has a fifty day moving average of $83.62 and a two-hundred day moving average of $108.07. The firm has a market cap of $27.15 billion, a P/E ratio of 70.15, a P/E/G ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. Equities analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

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

Analysts Set New Price Targets

TTD has been the topic of several analyst reports. Wells Fargo & Company reduced their price objective on Trade Desk from $101.00 to $72.00 and set an “overweight” rating on the stock in a research note on Monday. Wolfe Research boosted their target price on Trade Desk from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Royal Bank of Canada lowered their price target on Trade Desk from $120.00 to $100.00 and set an “outperform” rating for the company in a research report on Monday, March 17th. Wedbush boosted their price objective on shares of Trade Desk from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Finally, JMP Securities lowered their target price on shares of Trade Desk from $150.00 to $115.00 and set a “market outperform” rating for the company in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $115.41.

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.