Picton Mahoney Asset Management Sells 64,008 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Picton Mahoney Asset Management cut its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 50.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 61,733 shares of the technology company’s stock after selling 64,008 shares during the quarter. Picton Mahoney Asset Management’s holdings in Trade Desk were worth $4,443,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. 9258 Wealth Management LLC boosted its stake in Trade Desk by 2.2% in the 3rd quarter. 9258 Wealth Management LLC now owns 6,091 shares of the technology company’s stock worth $476,000 after purchasing an additional 131 shares during the period. Latitude Advisors LLC boosted its stake in Trade Desk by 5.0% in the 3rd quarter. Latitude Advisors LLC now owns 2,815 shares of the technology company’s stock worth $220,000 after purchasing an additional 133 shares during the period. Level Financial Advisors Inc. boosted its stake in Trade Desk by 50.0% in the 4th quarter. Level Financial Advisors Inc. now owns 450 shares of the technology company’s stock worth $32,000 after purchasing an additional 150 shares during the period. Mutual Advisors LLC raised its holdings in shares of Trade Desk by 3.6% during the 4th quarter. Mutual Advisors LLC now owns 4,502 shares of the technology company’s stock worth $324,000 after acquiring an additional 156 shares in the last quarter. Finally, Choreo LLC raised its holdings in shares of Trade Desk by 2.2% during the 4th quarter. Choreo LLC now owns 7,491 shares of the technology company’s stock worth $539,000 after acquiring an additional 158 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors.

Trade Desk Trading Down 4.0 %

NASDAQ TTD traded down $3.62 on Wednesday, reaching $86.02. 6,579,983 shares of the company were exchanged, compared to its average volume of 4,452,283. The business’s fifty day moving average price is $83.98 and its 200 day moving average price is $76.09. The stock has a market capitalization of $42.06 billion, a P/E ratio of 238.95, a price-to-earnings-growth ratio of 4.88 and a beta of 1.50. The Trade Desk, Inc. has a fifty-two week low of $60.23 and a fifty-two week high of $94.00.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TTD. Oppenheimer upped their price objective on Trade Desk from $85.00 to $105.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. BMO Capital Markets increased their price target on Trade Desk from $88.00 to $107.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Royal Bank of Canada increased their price target on Trade Desk from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Friday, February 16th. KeyCorp increased their price target on Trade Desk from $84.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Finally, BTIG Research increased their price target on Trade Desk from $91.00 to $98.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $90.38.

Insider Activity at Trade Desk

In other Trade Desk news, insider Samantha Jacobson sold 15,006 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $83.57, for a total transaction of $1,254,051.42. Following the completion of the sale, the insider now directly owns 52,387 shares of the company’s stock, valued at approximately $4,377,981.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Laura Schenkein sold 3,391 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $89.53, for a total transaction of $303,596.23. Following the completion of the transaction, the chief financial officer now directly owns 653,366 shares of the company’s stock, valued at approximately $58,495,857.98. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Samantha Jacobson sold 15,006 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $83.57, for a total value of $1,254,051.42. Following the transaction, the insider now directly owns 52,387 shares of the company’s stock, valued at $4,377,981.59. The disclosure for this sale can be found here. Insiders sold a total of 642,170 shares of company stock valued at $53,970,398 in the last three months. 10.18% of the stock is currently owned by company insiders.

Trade Desk Company 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.