Royal London Asset Management Ltd. Sells 985 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Royal London Asset Management Ltd. reduced its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 0.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 279,802 shares of the technology company’s stock after selling 985 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Trade Desk were worth $32,885,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Focus Financial Network Inc. increased its position in shares of Trade Desk by 2.2% during the 4th quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock worth $456,000 after purchasing an additional 84 shares in the last quarter. RMR Wealth Builders increased its holdings in shares of Trade Desk by 0.8% during the fourth quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock worth $1,247,000 after buying an additional 89 shares in the last quarter. Quotient Wealth Partners LLC boosted its holdings in shares of Trade Desk by 4.2% in the 4th quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock worth $276,000 after acquiring an additional 94 shares in the last quarter. TFB Advisors LLC grew its position in Trade Desk by 2.6% during the 4th quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock worth $442,000 after acquiring an additional 94 shares during the last quarter. Finally, Centurion Wealth Management LLC increased its holdings in Trade Desk by 2.6% during the 4th quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company’s stock valued at $443,000 after purchasing an additional 96 shares in the last quarter. 67.77% of the stock is owned by institutional investors.

Trade Desk Stock Performance

Shares of TTD opened at $55.85 on Friday. The stock has a 50 day simple moving average of $92.39 and a 200 day simple moving average of $110.12. The Trade Desk, Inc. has a 52-week low of $53.39 and a 52-week high of $141.53. The firm has a market capitalization of $27.71 billion, a PE ratio of 71.60, a P/E/G ratio of 3.11 and a beta of 1.63.

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

Trade Desk declared that its Board of Directors has approved a stock repurchase plan on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 0.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

TTD has been the topic of a number of recent analyst reports. Scotiabank reduced their price objective on Trade Desk from $133.00 to $83.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Citigroup lowered their price objective on shares of Trade Desk from $140.00 to $108.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Wolfe Research upped their target price on shares of Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Needham & Company LLC reissued a “buy” rating and issued a $145.00 price target on shares of Trade Desk in a report on Thursday, March 13th. Finally, Piper Sandler restated an “overweight” rating and issued a $110.00 price objective (down previously from $140.00) on shares of Trade Desk in a research report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.41.

Insider Buying and Selling at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the sale, the insider now directly owns 90,709 shares in the company, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jay R. Grant sold 18,524 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the transaction, the insider now owns 169,464 shares of the company’s stock, valued at $20,225,528.40. The trade was a 9.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock valued at $5,004,296 in the last 90 days. 9.72% of the stock is currently owned by company insiders.

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.