New England Research & Management Inc. Takes $676,000 Position in The Trade Desk, Inc. (NASDAQ:TTD)

New England Research & Management Inc. acquired a new stake in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,350 shares of the technology company's stock, valued at approximately $676,000.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on TTD shares. Cfra Research raised shares of Trade Desk to a "moderate buy" rating in a research report on Tuesday, March 25th. Stifel Nicolaus dropped their price objective on Trade Desk from $122.00 to $87.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Benchmark upgraded Trade Desk from a "sell" rating to a "hold" rating in a report on Friday, March 7th. Macquarie upped their target price on Trade Desk from $90.00 to $92.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Finally, KeyCorp increased their price target on Trade Desk from $67.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Seven research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $97.15.

Insider Activity

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

Trade Desk Trading Down 3.7%

NASDAQ:TTD traded down $2.61 during trading hours on Friday, hitting $67.96. 6,699,048 shares of the stock were exchanged, compared to its average volume of 6,150,822. The firm's fifty day moving average price is $63.73 and its 200 day moving average price is $86.89. The Trade Desk, Inc. has a 52-week low of $42.96 and a 52-week high of $141.53. The company has a market cap of $33.40 billion, a P/E ratio of 87.13, a P/E/G ratio of 3.11 and a beta of 1.41.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. The business had revenue of $616.02 million during the quarter, compared to analysts' expectations of $575.62 million. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The company's quarterly revenue was up 25.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.26 earnings per share. Equities analysts expect that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

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.