The Trade Desk (NASDAQ:TTD) Shares Acquired by Avantax Advisory Services Inc.

Key Points

• Avantax Advisory Services Inc. increased its stake in The Trade Desk by 35.5%, acquiring an additional 8,245 shares to reach a total of 31,473 shares valued at $1,722,000.
• The Trade Desk reported a 25.4% increase in quarterly revenue, with earnings per share of $0.33, surpassing analysts' consensus estimate of $0.26.
• A significant number of large investors have recently adjusted their holdings in The Trade Desk, leading to institutional ownership rising to 67.77%.

Avantax Advisory Services Inc. raised its holdings in The Trade Desk (NASDAQ:TTD - Free Report) by 35.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,473 shares of the technology company's stock after buying an additional 8,245 shares during the period. Avantax Advisory Services Inc.'s holdings in Trade Desk were worth $1,722,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Investment Management Corp VA ADV acquired a new position in Trade Desk in the 4th quarter valued at about $25,000. Park Square Financial Group LLC acquired a new position in Trade Desk in the 4th quarter valued at about $47,000. BNP Paribas acquired a new position in Trade Desk in the 4th quarter valued at about $50,000. Banque Transatlantique SA acquired a new position in Trade Desk in the 4th quarter valued at about $56,000. Finally, Fourth Dimension Wealth LLC acquired a new position in Trade Desk in the 4th quarter valued at about $56,000. Institutional investors and hedge funds own 67.77% of the company's stock.

Insider Buying and Selling at Trade Desk

In related news, CEO Jeffrey Terry Green sold 26,684 shares of the 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 directly owned 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 filing with the SEC, which can be accessed through the SEC website. Also, Director David B. Wells sold 28,638 shares of the 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 completion of the sale, the director owned 66,985 shares of the company's stock, valued at approximately $5,350,761.80. This represents a 29.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.00% of the company's stock.

Trade Desk Stock Performance

Shares of TTD traded down $0.88 during trading hours on Friday, hitting $86.08. The stock had a trading volume of 9,973,566 shares, compared to its average volume of 14,718,176. The firm has a market cap of $42.30 billion, a P/E ratio of 104.98, a P/E/G ratio of 3.95 and a beta of 1.36. The company's fifty day simple moving average is $75.63 and its 200 day simple moving average is $74.76. The Trade Desk has a 12-month low of $42.96 and a 12-month high of $141.53.

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TTD shares. Wedbush restated an "outperform" rating and issued a $86.00 price target on shares of Trade Desk in a research report on Tuesday, July 15th. Citizens Jmp dropped their price target on Trade Desk from $115.00 to $100.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. KeyCorp boosted their price target on Trade Desk from $80.00 to $95.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Rosenblatt Securities boosted their price target on Trade Desk from $77.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Finally, JMP Securities reiterated a "market outperform" rating and set a $100.00 target price on shares of Trade Desk in a research report on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $100.09.

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.