Mackenzie Financial Corp Decreases Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Mackenzie Financial Corp reduced its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,923 shares of the technology company’s stock after selling 548 shares during the quarter. Mackenzie Financial Corp’s holdings in Trade Desk were worth $2,009,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in TTD. California Public Employees Retirement System raised its stake in Trade Desk by 1.4% in the third quarter. California Public Employees Retirement System now owns 808,509 shares of the technology company’s stock valued at $63,185,000 after buying an additional 11,356 shares during the last quarter. Nordea Investment Management AB raised its stake in Trade Desk by 31.7% in the fourth quarter. Nordea Investment Management AB now owns 613,441 shares of the technology company’s stock valued at $44,226,000 after buying an additional 147,717 shares during the last quarter. Raymond James & Associates raised its stake in Trade Desk by 12.8% in the fourth quarter. Raymond James & Associates now owns 252,370 shares of the technology company’s stock valued at $18,161,000 after buying an additional 28,714 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in Trade Desk by 30.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 287,352 shares of the technology company’s stock valued at $21,078,000 after buying an additional 67,520 shares during the last quarter. Finally, Deane Retirement Strategies Inc. raised its stake in Trade Desk by 126.8% in the fourth quarter. Deane Retirement Strategies Inc. now owns 26,227 shares of the technology company’s stock valued at $1,887,000 after buying an additional 14,662 shares during the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jay R. Grant sold 2,136 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $89.53, for a total value of $191,236.08. Following the transaction, the insider now owns 139,794 shares in the company, valued at $12,515,756.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Jay R. Grant sold 2,136 shares of Trade Desk stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $89.53, for a total transaction of $191,236.08. Following the transaction, the insider now owns 139,794 shares in the company, valued at $12,515,756.82. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jeffrey Terry Green sold 2,600 shares of Trade Desk stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $86.41, for a total value of $224,666.00. Following the transaction, the chief executive officer now owns 974,022 shares in the company, valued at approximately $84,165,241.02. The disclosure for this sale can be found here. Insiders have sold a total of 492,170 shares of company stock worth $41,250,398 over the last quarter. 10.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TTD shares. Royal Bank of Canada increased their price target on Trade Desk from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Piper Sandler increased their price objective on Trade Desk from $80.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Truist Financial increased their price objective on Trade Desk from $80.00 to $100.00 and gave the company a “buy” rating in a report on Friday, February 16th. Stifel Nicolaus increased their price objective on Trade Desk from $80.00 to $100.00 and gave the company a “buy” rating in a report on Friday, February 16th. Finally, KeyCorp increased their price objective on Trade Desk from $84.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat.com, Trade Desk presently has a consensus rating of “Moderate Buy” and an average price target of $89.75.

Trade Desk Trading Up 4.1 %

Shares of TTD opened at $81.07 on Wednesday. The firm has a market cap of $39.64 billion, a P/E ratio of 225.20, a PEG ratio of 4.29 and a beta of 1.50. The stock’s 50 day moving average is $83.05 and its two-hundred day moving average is $75.63. The Trade Desk, Inc. has a 12 month low of $59.36 and a 12 month high of $94.00.

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

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.