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

Picton Mahoney Asset Management cut its position in The Trade Desk, Inc. (NASDAQ:TTD) by 50.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. NBC Securities Inc. acquired a new stake in Trade Desk during the 3rd quarter valued at $25,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Trade Desk during the third quarter worth $26,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Trade Desk during the third quarter worth $29,000. Level Financial Advisors Inc. lifted its holdings in shares of Trade Desk by 50.0% during the fourth quarter. Level Financial Advisors Inc. now owns 450 shares of the technology company’s stock worth $32,000 after buying an additional 150 shares in the last quarter. Finally, Ancora Advisors LLC lifted its holdings in shares of Trade Desk by 56.5% during the third quarter. Ancora Advisors LLC now owns 485 shares of the technology company’s stock worth $38,000 after buying an additional 175 shares in the last quarter. 67.77% of the stock is owned by institutional investors.

Trade Desk Price Performance

Shares of Trade Desk stock traded down $3.62 during midday trading on Wednesday, reaching $86.02. The company had a trading volume of 6,579,983 shares, compared to its average volume of 4,452,283. The stock has a fifty day moving average price of $83.98 and a 200 day moving average price of $76.09. The firm has a market cap of $42.06 billion, a PE ratio of 238.95, a P/E/G 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 quarterly earnings data 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 company had revenue of $605.80 million during the quarter, compared to analyst estimates of $582.61 million. Trade Desk had a return on equity of 8.59% and a net margin of 9.19%. As a group, sell-side analysts forecast that The Trade Desk, Inc. will post 0.79 EPS for the current year.

Insider Buying and Selling

In other Trade Desk news, insider Jay R. Grant sold 2,136 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $89.53, for a total value of $191,236.08. Following the transaction, the insider now directly owns 139,794 shares of the company’s stock, valued at $12,515,756.82. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Jeffrey Terry Green sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $84.47, for a total transaction of $6,335,250.00. Following the transaction, the chief executive officer now directly owns 824,022 shares of the company’s stock, valued at $69,605,138.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jay R. Grant sold 2,136 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $89.53, for a total value of $191,236.08. Following the transaction, the insider now directly owns 139,794 shares in the company, valued at $12,515,756.82. The disclosure for this sale can be found here. Insiders have sold a total of 642,170 shares of company stock valued at $53,970,398 over the last ninety days. 10.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TTD has been the subject of a number of research reports. Susquehanna lifted their target price on Trade Desk from $75.00 to $110.00 and gave the stock a “positive” rating in a report on Friday, February 16th. Benchmark raised their price target on Trade Desk from $32.00 to $42.00 and gave the stock a “sell” rating in a research report on Friday, February 16th. BMO Capital Markets raised their price target on Trade Desk from $88.00 to $107.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Stephens restated an “overweight” rating and issued a $85.00 price target on shares of Trade Desk in a research report on Friday, February 16th. Finally, Seaport Res Ptn restated a “neutral” rating on shares of Trade Desk in a research report on Monday, February 12th. Two analysts have rated the stock with a sell rating, three have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $90.38.

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.