Natixis Advisors LLC Cuts Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Natixis Advisors LLC reduced its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 21.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 419,973 shares of the technology company’s stock after selling 115,685 shares during the quarter. Natixis Advisors LLC owned 0.09% of Trade Desk worth $41,019,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of Trade Desk during the fourth quarter valued at $255,316,000. 1832 Asset Management L.P. bought a new position in Trade Desk during the 1st quarter valued at about $225,710,000. Vanguard Group Inc. boosted its holdings in shares of Trade Desk by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock valued at $3,003,666,000 after acquiring an additional 818,568 shares during the last quarter. Nikko Asset Management Americas Inc. grew its stake in shares of Trade Desk by 138.3% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 765,157 shares of the technology company’s stock worth $55,053,000 after acquiring an additional 444,032 shares during the period. Finally, Steadfast Capital Management LP grew its stake in shares of Trade Desk by 78.3% in the first quarter. Steadfast Capital Management LP now owns 983,000 shares of the technology company’s stock worth $85,934,000 after acquiring an additional 431,600 shares during the period. 67.77% of the stock is owned by hedge funds and other institutional investors.

Trade Desk Stock Performance

Shares of TTD stock opened at $104.53 on Tuesday. The stock has a fifty day simple moving average of $97.32 and a two-hundred day simple moving average of $91.11. The Trade Desk, Inc. has a 52-week low of $60.23 and a 52-week high of $105.39. The firm has a market capitalization of $51.38 billion, a PE ratio of 261.33, a PEG ratio of 5.30 and a beta of 1.47.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.03. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The company had revenue of $584.55 million for the quarter, compared to the consensus estimate of $578.03 million. During the same quarter last year, the company earned $0.07 EPS. The firm’s quarterly revenue was up 25.9% on a year-over-year basis. On average, sell-side analysts forecast that The Trade Desk, Inc. will post 0.86 EPS for the current fiscal year.

Insider Activity

In related news, CEO Jeffrey Terry Green sold 283,429 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $104.20, for a total transaction of $29,533,301.80. Following the completion of the transaction, the chief executive officer now owns 380,832 shares in the company, valued at $39,682,694.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Andrea Lee Cunningham sold 1,606 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $100.07, for a total transaction of $160,712.42. Following the completion of the transaction, the director now owns 3,516 shares in the company, valued at $351,846.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jeffrey Terry Green sold 283,429 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $104.20, for a total value of $29,533,301.80. Following the completion of the sale, the chief executive officer now owns 380,832 shares in the company, valued at $39,682,694.40. The disclosure for this sale can be found here. Insiders have sold a total of 642,868 shares of company stock worth $65,415,112 over the last quarter. Insiders own 10.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Citigroup raised their target price on shares of Trade Desk from $112.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, August 9th. BTIG Research raised their price target on Trade Desk from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Royal Bank of Canada lifted their price objective on Trade Desk from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Piper Sandler reissued an “overweight” rating and issued a $110.00 target price on shares of Trade Desk in a report on Tuesday, June 11th. Finally, BMO Capital Markets restated an “outperform” rating and set a $108.00 price target (up from $107.00) on shares of Trade Desk in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $107.72.

Trade Desk 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.