GraniteShares Advisors LLC Reduces Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

GraniteShares Advisors LLC lowered its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 6.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,811 shares of the technology company’s stock after selling 642 shares during the quarter. GraniteShares Advisors LLC’s holdings in Trade Desk were worth $634,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Trade Desk by 1.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 80,720 shares of the technology company’s stock valued at $5,809,000 after purchasing an additional 1,221 shares during the last quarter. Wealth Alliance boosted its holdings in shares of Trade Desk by 5.2% in the 4th quarter. Wealth Alliance now owns 18,742 shares of the technology company’s stock valued at $1,349,000 after purchasing an additional 929 shares during the last quarter. Strs Ohio boosted its holdings in shares of Trade Desk by 10.8% in the 4th quarter. Strs Ohio now owns 524,948 shares of the technology company’s stock valued at $37,775,000 after purchasing an additional 51,064 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Trade Desk by 31.3% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,838,998 shares of the technology company’s stock valued at $132,334,000 after purchasing an additional 438,733 shares during the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in shares of Trade Desk in the 4th quarter valued at $2,555,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Price Performance

Shares of NASDAQ:TTD traded up $1.14 during trading on Tuesday, reaching $82.13. 2,871,566 shares of the company’s stock traded hands, compared to its average volume of 4,647,597. The Trade Desk, Inc. has a 12 month low of $59.36 and a 12 month high of $94.00. The company has a 50 day moving average of $82.16 and a 200-day moving average of $75.57. The stock has a market capitalization of $40.16 billion, a P/E ratio of 228.15, a price-to-earnings-growth ratio of 4.76 and a beta of 1.50.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Thursday, February 15th. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.05). Trade Desk had a net margin of 9.19% and a return on equity of 8.59%. The business had revenue of $605.80 million for the quarter, compared to the consensus estimate of $582.61 million. Equities research analysts predict that The Trade Desk, Inc. will post 0.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on TTD shares. KeyCorp lifted their price target on shares of Trade Desk from $84.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, February 16th. HSBC initiated coverage on shares of Trade Desk in a research note on Monday, December 18th. They issued a “buy” rating and a $83.20 target price on the stock. Piper Sandler raised their target price on shares of Trade Desk from $80.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Stephens reissued an “overweight” rating and issued a $85.00 target price on shares of Trade Desk in a research note on Friday, February 16th. Finally, Wells Fargo & Company raised their target price on shares of Trade Desk from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.75.

Insiders Place Their Bets

In other Trade Desk news, insider Jay R. Grant sold 2,136 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $89.53, for a total value of $191,236.08. Following the completion of the transaction, the insider now owns 139,794 shares in the company, valued at approximately $12,515,756.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Trade Desk news, insider Jay R. Grant sold 2,136 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $89.53, for a total value of $191,236.08. Following the completion of the transaction, the insider now owns 139,794 shares in the company, valued at approximately $12,515,756.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gokul Rajaram sold 2,999 shares of the company’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $62.76, for a total transaction of $188,217.24. Following the completion of the transaction, the director now owns 36,312 shares of the company’s stock, valued at approximately $2,278,941.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 492,569 shares of company stock worth $41,213,950. Insiders own 10.81% of the company’s stock.

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.