Lazard Asset Management LLC Sells 9,981 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Lazard Asset Management LLC cut its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 35.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,869 shares of the technology company’s stock after selling 9,981 shares during the period. Lazard Asset Management LLC’s holdings in Trade Desk were worth $2,099,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its stake in shares of Trade Desk by 276.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company’s stock worth $8,255,000 after purchasing an additional 51,603 shares during the period. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Trade Desk by 32.2% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 2,898 shares of the technology company’s stock worth $341,000 after purchasing an additional 706 shares during the period. Avanza Fonder AB purchased a new position in shares of Trade Desk during the 4th quarter worth about $1,117,000. Merit Financial Group LLC boosted its stake in shares of Trade Desk by 16.8% during the 4th quarter. Merit Financial Group LLC now owns 6,870 shares of the technology company’s stock worth $807,000 after purchasing an additional 989 shares during the period. Finally, Arthur M. Cohen & Associates LLC boosted its stake in shares of Trade Desk by 18.4% during the 4th quarter. Arthur M. Cohen & Associates LLC now owns 6,435 shares of the technology company’s stock worth $756,000 after purchasing an additional 1,000 shares during the period. 67.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. DA Davidson dropped their price target on shares of Trade Desk from $103.00 to $92.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Jefferies Financial Group set a $125.00 price target on shares of Trade Desk and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Truist Financial lifted their price target on shares of Trade Desk from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Scotiabank lowered their price objective on shares of Trade Desk from $133.00 to $83.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. Finally, KeyCorp boosted their price objective on shares of Trade Desk from $67.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Seven investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $98.88.

Trade Desk Stock Down 1.5%

NASDAQ TTD opened at $76.31 on Friday. The firm has a market cap of $37.86 billion, a PE ratio of 97.83, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29. The company has a 50 day moving average price of $56.12 and a 200 day moving average price of $93.70. The Trade Desk, Inc. has a 52 week low of $42.96 and a 52 week high of $141.53.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07. The firm had revenue of $616.02 million during the quarter, compared to analyst estimates of $575.62 million. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. Trade Desk’s revenue was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.26 EPS. On average, equities research analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its board has approved a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 26,684 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the transaction, the chief executive officer now owns 17,018 shares in the company, valued at approximately $1,361,950.54. This represents a 61.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David B. Wells sold 28,638 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the transaction, the director now owns 66,985 shares in the company, valued at $5,350,761.80. The trade was a 29.95% decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by company insiders.

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.