Bangor Savings Bank Invests $586,000 in The Trade Desk, Inc. (NASDAQ:TTD)

Bangor Savings Bank acquired a new stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 10,716 shares of the technology company's stock, valued at approximately $586,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Investment Management Corp VA ADV purchased a new stake in Trade Desk in the fourth quarter worth $25,000. Rialto Wealth Management LLC bought a new position in Trade Desk in the 4th quarter worth $26,000. Midwest Capital Advisors LLC bought a new position in Trade Desk in the 4th quarter worth $34,000. Zions Bancorporation N.A. lifted its position in shares of Trade Desk by 148.3% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock worth $34,000 after purchasing an additional 175 shares during the period. Finally, Kestra Investment Management LLC bought a new stake in shares of Trade Desk during the 4th quarter valued at about $39,000. 67.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Evercore ISI downgraded shares of Trade Desk from an "outperform" rating to an "inline" rating and decreased their price target for the stock from $135.00 to $90.00 in a research note on Thursday, February 13th. Jefferies Financial Group set a $125.00 target price on Trade Desk and gave the stock a "buy" rating in a research report on Tuesday, April 29th. UBS Group lowered their target price on Trade Desk from $116.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, April 11th. JMP Securities reduced their price target on Trade Desk from $115.00 to $100.00 and set a "market outperform" rating on the stock in a research note on Friday, May 9th. Finally, Truist Financial raised their price objective on Trade Desk from $95.00 to $100.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company's stock. According to MarketBeat, Trade Desk currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.15.

Trade Desk Trading Up 0.5%

NASDAQ:TTD traded up $0.35 during trading hours on Friday, reaching $71.46. The company had a trading volume of 9,055,417 shares, compared to its average volume of 6,128,536. The firm has a market cap of $35.12 billion, a price-to-earnings ratio of 91.62, a PEG ratio of 3.11 and a beta of 1.41. The firm's 50 day moving average price is $61.50 and its 200-day moving average price is $88.61. The Trade Desk, Inc. has a 52 week low of $42.96 and a 52 week high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.07. The firm had revenue of $616.02 million for the quarter, compared to the consensus estimate of $575.62 million. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The company's revenue for the quarter was up 25.4% on a year-over-year basis. During the same period last year, the business posted $0.26 EPS. On average, analysts forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its board has authorized a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $564.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 0.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, CEO Jeffrey Terry Green sold 26,684 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $80.03, for a total value of $2,135,520.52. Following the transaction, the chief executive officer now directly owns 17,018 shares of the company's stock, valued at approximately $1,361,950.54. This trade represents a 61.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David B. Wells sold 28,638 shares of Trade Desk stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total value of $2,287,603.44. Following the transaction, the director now owns 66,985 shares in the company, valued at $5,350,761.80. This trade represents a 29.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.74% 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.