Harvest Fund Management Co. Ltd Sells 1,011 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Harvest Fund Management Co. Ltd cut its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 20.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,938 shares of the technology company’s stock after selling 1,011 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Trade Desk were worth $283,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. 9258 Wealth Management LLC grew its position in shares of Trade Desk by 2.2% in the third quarter. 9258 Wealth Management LLC now owns 6,091 shares of the technology company’s stock valued at $476,000 after purchasing an additional 131 shares in the last quarter. Latitude Advisors LLC boosted its stake in Trade Desk by 5.0% during the third quarter. Latitude Advisors LLC now owns 2,815 shares of the technology company’s stock valued at $220,000 after buying an additional 133 shares during the period. Newbridge Financial Services Group Inc. lifted its stake in Trade Desk by 8.7% during the third quarter. Newbridge Financial Services Group Inc. now owns 1,875 shares of the technology company’s stock worth $147,000 after purchasing an additional 150 shares during the last quarter. Level Financial Advisors Inc. lifted its stake in 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 purchasing an additional 150 shares during the last quarter. Finally, Mutual Advisors LLC lifted its stake in Trade Desk by 3.6% during the fourth quarter. Mutual Advisors LLC now owns 4,502 shares of the technology company’s stock worth $324,000 after purchasing an additional 156 shares during the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Jeffrey Terry Green sold 75,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $81.77, for a total value of $6,132,750.00. Following the transaction, the chief executive officer now directly owns 1,551,987 shares of the company’s stock, valued at approximately $126,905,976.99. The sale 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 firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $89.53, for a total transaction of $191,236.08. Following the sale, the insider now directly owns 139,794 shares of the company’s stock, valued at $12,515,756.82. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jeffrey Terry Green sold 75,000 shares of Trade Desk stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $81.77, for a total value of $6,132,750.00. Following the completion of the sale, the chief executive officer now directly owns 1,551,987 shares in the company, valued at $126,905,976.99. The disclosure for this sale can be found here. In the last three months, insiders have sold 492,170 shares of company stock valued at $41,250,398. 10.18% of the stock is owned by company insiders.

Trade Desk Price Performance

TTD stock opened at $80.15 on Thursday. The company has a market cap of $39.19 billion, a P/E ratio of 232.76, a price-to-earnings-growth ratio of 4.47 and a beta of 1.50. The Trade Desk, Inc. has a 1 year low of $59.98 and a 1 year high of $94.00. The stock’s fifty day moving average price is $83.21 and its 200-day moving average price is $75.62.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Thursday, February 15th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.05). Trade Desk had a return on equity of 8.59% and a net margin of 9.19%. The firm had revenue of $605.80 million during the quarter, compared to analysts’ expectations of $582.61 million. As a group, analysts expect that The Trade Desk, Inc. will post 0.79 earnings per share for the current year.

Analysts Set New Price Targets

TTD has been the subject of several research analyst reports. Benchmark lifted their price target on Trade Desk from $32.00 to $42.00 and gave the stock a “sell” rating in a research note on Friday, February 16th. KeyCorp lifted their price target on Trade Desk from $84.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Stifel Nicolaus lifted their price target on Trade Desk from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Wells Fargo & Company lifted their price target on Trade Desk from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 17th. Finally, Truist Financial increased their target price on Trade Desk from $80.00 to $100.00 and gave the company a “buy” rating in a report on Friday, February 16th. Two investment 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.75.

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.