Baillie Gifford & Co. Sells 1,587,519 Shares of The Trade Desk $TTD

Baillie Gifford & Co. lessened its position in The Trade Desk (NASDAQ:TTD) by 5.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,115,119 shares of the technology company’s stock after selling 1,587,519 shares during the quarter. Trade Desk makes up about 1.1% of Baillie Gifford & Co.’s investment portfolio, making the stock its 20th largest holding. Baillie Gifford & Co. owned about 5.95% of Trade Desk worth $1,426,932,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of Trade Desk by 52.1% during the 2nd quarter. Geode Capital Management LLC now owns 12,314,817 shares of the technology company’s stock valued at $884,860,000 after buying an additional 4,218,975 shares in the last quarter. Norges Bank purchased a new position in Trade Desk during the 2nd quarter valued at about $197,362,000. Viking Global Investors LP purchased a new position in Trade Desk during the 2nd quarter valued at about $192,524,000. Jennison Associates LLC boosted its stake in Trade Desk by 17.9% during the second quarter. Jennison Associates LLC now owns 14,267,457 shares of the technology company’s stock worth $1,027,114,000 after acquiring an additional 2,169,252 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in Trade Desk in the second quarter worth about $68,641,000. Institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Performance

NASDAQ TTD opened at $36.55 on Friday. The Trade Desk has a one year low of $34.00 and a one year high of $125.80. The stock has a 50-day moving average of $38.04 and a 200 day moving average of $51.14. The company has a market capitalization of $17.68 billion, a price-to-earnings ratio of 42.01, a PEG ratio of 1.44 and a beta of 1.11.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Thursday, November 6th. The technology company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. Trade Desk had a return on equity of 16.00% and a net margin of 15.72%.The firm had revenue of $739.43 million for the quarter, compared to analysts’ expectations of $719.11 million. During the same period in the prior year, the firm earned $0.41 EPS. The company’s revenue was up 17.7% compared to the same quarter last year. On average, equities analysts predict that The Trade Desk will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its board has approved a stock repurchase program on Thursday, November 6th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 2.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Exane BNP Paribas upgraded shares of Trade Desk to a “hold” rating in a report on Wednesday, January 14th. Citigroup cut Trade Desk from an “outperform” rating to a “market perform” rating in a research note on Friday. Stifel Nicolaus set a $74.00 target price on Trade Desk and gave the stock a “buy” rating in a research note on Friday. Moffett Nathanson upgraded Trade Desk from a “sell” rating to a “neutral” rating and set a $39.00 price target for the company in a report on Monday, January 12th. Finally, Wall Street Zen upgraded shares of Trade Desk from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, seventeen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $67.76.

About Trade Desk

The Trade Desk, Inc (NASDAQ: TTD) is a technology company that provides a demand-side platform (DSP) for programmatic digital advertising. Its platform enables advertisers, agencies and other buyers to plan, purchase and measure ad inventory across digital channels, including display, video, mobile, audio, native and connected TV. By centralizing real‑time bidding, audience targeting and inventory access, the company aims to help clients optimize media spend and reach audiences at scale across publishers and ad exchanges.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk grew from a focus on programmatic display into a global ad‑tech provider.