The Trade Desk (NASDAQ:TTD) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in The Trade Desk (NASDAQ:TTD - Free Report) by 16.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 431,856 shares of the technology company's stock after selling 87,783 shares during the period. Allspring Global Investments Holdings LLC owned 0.09% of Trade Desk worth $24,659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of TTD. Investment Management Corp VA ADV acquired a new position in Trade Desk during the 4th quarter valued at approximately $25,000. Rialto Wealth Management LLC purchased a new position in shares of Trade Desk in the fourth quarter worth about $26,000. Zions Bancorporation N.A. increased its holdings in 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 buying an additional 175 shares during the period. Park Square Financial Group LLC acquired a new stake in Trade Desk during the 4th quarter valued at approximately $47,000. Finally, BNP Paribas acquired a new stake in Trade Desk during the 4th quarter valued at approximately $50,000. 67.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on TTD. Needham & Company LLC restated a "buy" rating and set a $84.00 target price on shares of Trade Desk in a research report on Friday, June 6th. Truist Financial boosted their price objective on Trade Desk from $95.00 to $100.00 and gave the company a "buy" rating in a report on Friday, May 9th. DA Davidson lowered their target price on Trade Desk from $103.00 to $92.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. HSBC set a $75.00 price target on Trade Desk and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Finally, Macquarie upped their price objective on Trade Desk from $90.00 to $92.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. Eight analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $97.27.

Insider Activity at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 26,684 shares of the business'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 sale, the chief executive officer directly owned 17,018 shares in the company, valued at $1,361,950.54. This represents a 61.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David B. Wells sold 28,638 shares of the 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 owned 66,985 shares in the company, valued at approximately $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. 9.74% of the stock is currently owned by company insiders.

Trade Desk Trading Up 1.1%

TTD stock traded up $0.81 during midday trading on Friday, hitting $74.39. 3,176,387 shares of the company's stock were exchanged, compared to its average volume of 6,362,371. The Trade Desk has a 1-year low of $42.96 and a 1-year high of $141.53. The stock has a market capitalization of $36.56 billion, a PE ratio of 90.72, a P/E/G ratio of 3.38 and a beta of 1.36. The business has a 50-day simple moving average of $69.44 and a two-hundred day simple moving average of $80.76.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its quarterly earnings data 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. Trade Desk had a return on equity of 15.41% and a net margin of 16.04%. The firm had revenue of $616.02 million during the quarter, compared to the consensus estimate of $575.62 million. During the same period last year, the company earned $0.26 EPS. The company's quarterly revenue was up 25.4% on a year-over-year basis. As a group, research analysts expect that The Trade Desk will post 1.06 EPS for the current fiscal 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.