AQR Capital Management LLC Sells 90,140 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

AQR Capital Management LLC lowered its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 29.6% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 213,976 shares of the technology company’s stock after selling 90,140 shares during the period. AQR Capital Management LLC’s holdings in Trade Desk were worth $20,880,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Trade Desk by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock worth $3,003,666,000 after acquiring an additional 818,568 shares during the period. 1832 Asset Management L.P. lifted its position in Trade Desk by 10.5% in the second quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock worth $278,623,000 after purchasing an additional 270,800 shares during the period. Jericho Capital Asset Management L.P. boosted its stake in Trade Desk by 4.3% during the first quarter. Jericho Capital Asset Management L.P. now owns 2,419,355 shares of the technology company’s stock worth $211,500,000 after buying an additional 100,000 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Trade Desk by 10.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,214,832 shares of the technology company’s stock valued at $159,379,000 after buying an additional 209,222 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Trade Desk by 3.2% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,898,159 shares of the technology company’s stock valued at $165,937,000 after buying an additional 59,161 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

Trade Desk Price Performance

TTD opened at $109.65 on Tuesday. The firm has a 50 day simple moving average of $100.15 and a 200 day simple moving average of $94.31. The Trade Desk, Inc. has a fifty-two week low of $60.23 and a fifty-two week high of $112.22. The company has a market cap of $53.63 billion, a price-to-earnings ratio of 274.13, a price-to-earnings-growth ratio of 5.27 and a beta of 1.48.

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TTD. BTIG Research lifted their target price on shares of Trade Desk from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Oppenheimer increased their target price on Trade Desk from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Piper Sandler restated an “overweight” rating and set a $110.00 target price on shares of Trade Desk in a research report on Tuesday, June 11th. Needham & Company LLC reiterated a “buy” rating and issued a $115.00 price target on shares of Trade Desk in a research report on Wednesday, September 11th. Finally, Citigroup lifted their price objective on Trade Desk from $112.00 to $115.00 and gave the company a “buy” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $109.05.

Insider Activity

In related news, Director Andrea Lee Cunningham sold 1,606 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were 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 filing with the SEC, which can be accessed through the SEC website. In other news, CEO Jeffrey Terry Green sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $110.54, for a total transaction of $22,108,000.00. Following the sale, the chief executive officer now owns 365,180 shares of the company’s stock, valued at $40,366,997.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Andrea Lee Cunningham sold 1,606 shares of Trade Desk stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $100.07, for a total value of $160,712.42. Following the transaction, the director now owns 3,516 shares in the company, valued at approximately $351,846.12. The disclosure for this sale can be found here. Insiders sold a total of 1,056,669 shares of company stock valued at $113,117,247 in the last ninety days. 10.18% of the stock is owned by insiders.

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.