47,700 Shares in The Trade Desk (NASDAQ:TTD) Purchased by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp has invested $2.61 million in The Trade Desk, acquiring 47,700 shares during the first quarter.
• The Trade Desk recorded a strong quarterly earnings report with an EPS of $0.33, surpassing expectations, and 25.4% revenue growth year-over-year.
• Analysts maintain a consensus rating of "Moderate Buy"** for The Trade Desk, with a target price averaging around $100.09.

Alberta Investment Management Corp acquired a new stake in The Trade Desk (NASDAQ:TTD - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 47,700 shares of the technology company's stock, valued at approximately $2,610,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TTD. US Bancorp DE grew its stake in shares of Trade Desk by 12.2% during the 1st quarter. US Bancorp DE now owns 1,105,744 shares of the technology company's stock worth $60,506,000 after purchasing an additional 119,961 shares during the period. EFG Asset Management Americas Corp. grew its position in Trade Desk by 2.7% during the first quarter. EFG Asset Management Americas Corp. now owns 32,560 shares of the technology company's stock worth $1,782,000 after buying an additional 866 shares during the period. NorthRock Partners LLC grew its position in Trade Desk by 7.6% during the first quarter. NorthRock Partners LLC now owns 4,224 shares of the technology company's stock worth $231,000 after buying an additional 297 shares during the period. Baader Bank Aktiengesellschaft purchased a new position in Trade Desk in the first quarter valued at about $809,000. Finally, Arkadios Wealth Advisors increased its holdings in Trade Desk by 55.6% in the first quarter. Arkadios Wealth Advisors now owns 5,879 shares of the technology company's stock valued at $322,000 after buying an additional 2,101 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. JMP Securities restated a "market outperform" rating and issued a $100.00 price target on shares of Trade Desk in a report on Tuesday, June 24th. Citizens Jmp lowered their target price on Trade Desk from $115.00 to $100.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Citigroup restated a "buy" rating on shares of Trade Desk in a research report on Tuesday, July 15th. Arete Research upgraded shares of Trade Desk to a "strong sell" rating in a research report on Monday, July 28th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $84.00 price objective on shares of Trade Desk in a research note on Friday, June 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $100.09.

Insider Transactions at Trade Desk

In related news, Director David B. Wells sold 28,638 shares of Trade Desk stock in a transaction dated 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 transaction, the director directly owned 66,985 shares of the company's stock, valued at $5,350,761.80. The trade was a 29.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey Terry Green sold 26,684 shares of Trade Desk stock in a transaction dated 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 directly owned 17,018 shares in the company, valued at approximately $1,361,950.54. The trade was a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.00% of the stock is owned by insiders.

Trade Desk Price Performance

TTD traded down $0.88 during trading hours on Friday, hitting $86.08. 9,973,566 shares of the stock were exchanged, compared to its average volume of 15,217,046. The stock has a 50-day simple moving average of $75.63 and a 200-day simple moving average of $74.12. The Trade Desk has a 12 month low of $42.96 and a 12 month high of $141.53. The stock has a market cap of $42.30 billion, a price-to-earnings ratio of 104.98, a price-to-earnings-growth ratio of 3.91 and a beta of 1.37.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. Trade Desk had a return on equity of 15.41% and a net margin of 16.04%. The company had revenue of $616.02 million for the quarter, compared to analysts' expectations of $575.62 million. During the same period last year, the business posted $0.26 earnings per share. The firm's quarterly revenue was up 25.4% compared to the same quarter last year. Sell-side analysts expect that The Trade Desk will post 1.06 EPS for the current year.

Trade Desk Company 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.