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Baillie Gifford & Co. Sells 3,764,987 Shares of The Trade Desk (NASDAQ:TTD)

Trade Desk logo with Computer and Technology background

Key Points

  • Baillie Gifford & Co. reduced its stake in The Trade Desk by 10.7% in Q1, now holding approximately 31.4 million shares, which represents 1.5% of their portfolio.
  • Several institutional investors have modified their positions, with GAMMA Investing LLC increasing their stake by an impressive 3,876.8% in the same quarter.
  • The Trade Desk reported a quarterly revenue of $616.02 million, surpassing analysts' expectations, and achieved an EPS of $0.33.
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Baillie Gifford & Co. decreased its position in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 10.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,413,946 shares of the technology company's stock after selling 3,764,987 shares during the period. Trade Desk comprises 1.5% of Baillie Gifford & Co.'s portfolio, making the stock its 17th biggest position. Baillie Gifford & Co. owned about 6.33% of Trade Desk worth $1,718,971,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Anchor Investment Management LLC boosted its stake in Trade Desk by 17.2% in the fourth quarter. Anchor Investment Management LLC now owns 1,020 shares of the technology company's stock valued at $120,000 after acquiring an additional 150 shares during the last quarter. Brighton Jones LLC boosted its position in shares of Trade Desk by 3.8% during the fourth quarter. Brighton Jones LLC now owns 4,586 shares of the technology company's stock worth $539,000 after purchasing an additional 169 shares in the last quarter. Zions Bancorporation N.A. boosted its position in shares of Trade Desk by 148.3% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock worth $34,000 after purchasing an additional 175 shares in the last quarter. Peterson Wealth Services boosted its position in shares of Trade Desk by 2.2% during the first quarter. Peterson Wealth Services now owns 8,992 shares of the technology company's stock worth $492,000 after purchasing an additional 190 shares in the last quarter. Finally, Huntington National Bank boosted its position in shares of Trade Desk by 11.2% during the fourth quarter. Huntington National Bank now owns 1,923 shares of the technology company's stock worth $226,000 after purchasing an additional 194 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company's stock.

Trade Desk Stock Up 1.3%

Shares of NASDAQ:TTD traded up $1.14 during midday trading on Friday, hitting $86.14. The stock had a trading volume of 6,028,690 shares, compared to its average volume of 14,512,962. The company's 50-day moving average price is $74.30 and its 200-day moving average price is $76.13. The company has a market capitalization of $42.33 billion, a P/E ratio of 105.05, a price-to-earnings-growth ratio of 3.86 and a beta of 1.36. The Trade Desk has a fifty-two week low of $42.96 and a fifty-two week high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last released 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. 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 16.04% and a return on equity of 15.41%. The firm's quarterly revenue was up 25.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.26 EPS. Research analysts expect that The Trade Desk will post 1.06 EPS for the current fiscal year.

Insider Buying and Selling

In other Trade Desk news, Director David B. Wells sold 28,638 shares of the company's stock in a transaction that occurred 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 transaction, the director directly owned 66,985 shares in the company, valued at approximately $5,350,761.80. This represents a 29.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 26,684 shares of the company's stock in a transaction that occurred on 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 transaction, the chief executive officer 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 ownership of the stock. The disclosure for this sale can be found here. 9.74% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TTD has been the topic of a number of recent analyst reports. HSBC set a $75.00 price target on shares of Trade Desk and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. UBS Group reissued a "buy" rating and set a $105.00 price target (up from $80.00) on shares of Trade Desk in a research report on Wednesday, July 16th. Truist Financial raised their price objective on shares of Trade Desk from $95.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, May 9th. JMP Securities reaffirmed a "market outperform" rating and issued a $100.00 target price on shares of Trade Desk in a research note on Tuesday, June 24th. Finally, Oppenheimer increased their target price on Trade Desk from $75.00 to $80.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Eight equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $98.73.

Check Out Our Latest Research Report on TTD

About Trade Desk

(Free Report)

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.

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Institutional Ownership by Quarter for Trade Desk (NASDAQ:TTD)

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