Zevenbergen Capital Investments LLC Sells 835,151 Shares of The Trade Desk $TTD

Zevenbergen Capital Investments LLC lowered its position in shares of The Trade Desk (NASDAQ:TTD) by 40.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,220,465 shares of the technology company’s stock after selling 835,151 shares during the period. Trade Desk accounts for about 1.0% of Zevenbergen Capital Investments LLC’s holdings, making the stock its 28th biggest position. Zevenbergen Capital Investments LLC’s holdings in Trade Desk were worth $46,329,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Trade Desk by 27.7% in the 3rd quarter. Vanguard Group Inc. now owns 56,875,852 shares of the technology company’s stock worth $2,787,486,000 after purchasing an additional 12,321,000 shares in the last quarter. State Street Corp increased its holdings in shares of Trade Desk by 271.1% in the third quarter. State Street Corp now owns 36,354,274 shares of the technology company’s stock worth $1,781,723,000 after purchasing an additional 26,559,005 shares during the period. Brown Advisory Inc. increased its holdings in shares of Trade Desk by 2.7% in the second quarter. Brown Advisory Inc. now owns 8,323,522 shares of the technology company’s stock worth $599,212,000 after purchasing an additional 221,228 shares during the period. Invesco Ltd. raised its position in shares of Trade Desk by 101.0% in the third quarter. Invesco Ltd. now owns 6,807,971 shares of the technology company’s stock worth $333,659,000 after buying an additional 3,421,074 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. boosted its stake in Trade Desk by 86.3% during the third quarter. Jericho Capital Asset Management L.P. now owns 4,067,000 shares of the technology company’s stock valued at $199,324,000 after buying an additional 1,884,000 shares during the period. Institutional investors own 67.77% of the company’s stock.

Wall Street Analysts Forecast Growth

TTD has been the topic of a number of research analyst reports. Jefferies Financial Group restated a “hold” rating on shares of Trade Desk in a research note on Tuesday, March 17th. KeyCorp cut their price objective on Trade Desk from $40.00 to $35.00 and set an “overweight” rating for the company in a report on Monday, March 2nd. BMO Capital Markets lowered their target price on shares of Trade Desk from $98.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, February 26th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Trade Desk in a research report on Tuesday, March 17th. Finally, Cannonball Research raised shares of Trade Desk to a “strong-buy” rating in a research note on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eighteen have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, Trade Desk currently has a consensus rating of “Hold” and an average target price of $41.94.

Trade Desk Trading Up 3.4%

Shares of Trade Desk stock opened at $22.01 on Tuesday. The firm has a market capitalization of $10.48 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 0.84 and a beta of 1.13. The Trade Desk has a 12 month low of $21.03 and a 12 month high of $91.45. The business’s 50-day moving average price is $27.01 and its 200-day moving average price is $37.70.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Wednesday, February 25th. The technology company reported $0.59 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.59. The business had revenue of $846.79 million during the quarter, compared to analyst estimates of $840.56 million. Trade Desk had a return on equity of 16.89% and a net margin of 15.31%.Trade Desk’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 earnings per share. As a group, analysts predict that The Trade Desk will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its board has approved a stock buyback program on Wednesday, February 25th that authorizes the company to repurchase $350.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 2.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity

In related news, Director Kathryn E. Falberg sold 50,000 shares of the stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $30.48, for a total transaction of $1,524,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 10.00% of the company’s stock.

Trade Desk Company Profile

The Trade Desk, Inc (NASDAQ: TTD) is a technology company that provides a demand-side platform (DSP) for programmatic digital advertising. Its platform enables advertisers, agencies and other buyers to plan, purchase and measure ad inventory across digital channels, including display, video, mobile, audio, native and connected TV. By centralizing real?time bidding, audience targeting and inventory access, the company aims to help clients optimize media spend and reach audiences at scale across publishers and ad exchanges.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk grew from a focus on programmatic display into a global ad?tech provider.