Allspring Global Investments Holdings LLC Trims Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Allspring Global Investments Holdings LLC decreased its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 4.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 641,441 shares of the technology company’s stock after selling 32,103 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.13% of Trade Desk worth $56,075,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Trade Desk by 2.0% during the fourth 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 last quarter. Jennison Associates LLC raised its holdings in Trade Desk by 91.7% in the fourth quarter. Jennison Associates LLC now owns 14,586,150 shares of the technology company’s stock valued at $1,049,619,000 after buying an additional 6,978,352 shares during the period. Norges Bank acquired a new position in Trade Desk during the fourth quarter valued at approximately $255,316,000. Goldman Sachs Group Inc. grew its stake in Trade Desk by 10.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,214,832 shares of the technology company’s stock worth $159,379,000 after buying an additional 209,222 shares during the period. Finally, ARK Investment Management LLC increased its position in shares of Trade Desk by 1,162.0% in the fourth quarter. ARK Investment Management LLC now owns 2,149,654 shares of the technology company’s stock worth $154,689,000 after acquiring an additional 1,979,319 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Stock Performance

NASDAQ TTD opened at $98.34 on Wednesday. The firm has a market capitalization of $48.10 billion, a PE ratio of 245.86, a price-to-earnings-growth ratio of 5.00 and a beta of 1.48. The Trade Desk, Inc. has a one year low of $60.23 and a one year high of $99.54. The company has a 50-day simple moving average of $92.96 and a 200-day simple moving average of $82.79.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. Trade Desk had a return on equity of 9.41% and a net margin of 9.80%. The business had revenue of $491.25 million for the quarter, compared to analysts’ expectations of $480.03 million. Equities analysts forecast that The Trade Desk, Inc. will post 0.85 earnings per share for the current year.

Analysts Set New Price Targets

TTD has been the subject of a number of research reports. Susquehanna reaffirmed a “positive” rating and set a $110.00 price target on shares of Trade Desk in a research report on Thursday, May 16th. Truist Financial reaffirmed a “buy” rating and issued a $105.00 target price on shares of Trade Desk in a research report on Thursday, May 16th. Needham & Company LLC reissued a “buy” rating and set a $100.00 price target on shares of Trade Desk in a research report on Thursday, May 9th. Royal Bank of Canada increased their price objective on shares of Trade Desk from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. Finally, Piper Sandler reissued an “overweight” rating and set a $110.00 target price on shares of Trade Desk in a research report on Tuesday, June 11th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, Trade Desk currently has an average rating of “Moderate Buy” and a consensus target price of $93.69.

Insider Buying and Selling

In other news, insider Jay R. Grant sold 141,434 shares of Trade Desk stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $97.42, for a total transaction of $13,778,500.28. Following the sale, the insider now owns 188,236 shares of the company’s stock, valued at $18,337,951.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Trade Desk news, CEO Jeffrey Terry Green sold 75,000 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $85.13, for a total transaction of $6,384,750.00. Following the transaction, the chief executive officer now owns 899,022 shares of the company’s stock, valued at approximately $76,533,742.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jay R. Grant sold 141,434 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $97.42, for a total transaction of $13,778,500.28. Following the completion of the sale, the insider now directly owns 188,236 shares of the company’s stock, valued at $18,337,951.12. The disclosure for this sale can be found here. Insiders have sold a total of 340,154 shares of company stock valued at $31,128,226 in the last quarter. Company insiders own 10.18% of the company’s stock.

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.