Blue Zone Wealth Advisors LLC Boosts Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Blue Zone Wealth Advisors LLC grew its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 18.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 79,169 shares of the technology company's stock after acquiring an additional 12,375 shares during the quarter. Blue Zone Wealth Advisors LLC's holdings in Trade Desk were worth $4,332,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Trade Desk by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company's stock worth $5,015,035,000 after acquiring an additional 253,137 shares in the last quarter. Invesco Ltd. raised its stake in shares of Trade Desk by 2.6% during the fourth quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company's stock worth $930,477,000 after acquiring an additional 198,822 shares in the last quarter. Norges Bank purchased a new position in shares of Trade Desk during the fourth quarter worth approximately $524,187,000. FMR LLC raised its stake in shares of Trade Desk by 44.8% during the fourth quarter. FMR LLC now owns 3,788,285 shares of the technology company's stock worth $445,237,000 after acquiring an additional 1,172,082 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Trade Desk by 13.2% during the fourth quarter. Bank of America Corp DE now owns 3,591,849 shares of the technology company's stock worth $422,150,000 after acquiring an additional 418,911 shares in the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Analysts Set New Price Targets

TTD has been the topic of several recent analyst reports. Evercore ISI cut shares of Trade Desk from an "outperform" rating to an "inline" rating and cut their target price for the stock from $135.00 to $90.00 in a report on Thursday, February 13th. Needham & Company LLC restated a "buy" rating and issued a $84.00 target price on shares of Trade Desk in a report on Friday. Jefferies Financial Group set a $125.00 target price on shares of Trade Desk and gave the stock a "buy" rating in a report on Tuesday, April 29th. Scotiabank cut their target price on shares of Trade Desk from $133.00 to $83.00 and set a "sector perform" rating on the stock in a report on Thursday, February 13th. Finally, Macquarie raised their target price on shares of Trade Desk from $90.00 to $92.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Seven research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Trade Desk currently has a consensus rating of "Moderate Buy" and a consensus target price of $97.15.

Trade Desk Price Performance

TTD opened at $71.46 on Friday. The stock has a 50-day moving average price of $61.50 and a 200-day moving average price of $88.85. The firm has a market cap of $35.12 billion, a PE ratio of 91.62, a P/E/G ratio of 3.11 and a beta of 1.41. The Trade Desk, Inc. has a 1 year low of $42.96 and a 1 year high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. The firm had revenue of $616.02 million during the quarter, compared to analyst estimates of $575.62 million. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. Trade Desk's quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 EPS. As a group, sell-side analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk announced that its board has approved a stock buyback plan on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to buy up to 0.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its shares are undervalued.

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.

Want to see what other hedge funds are holding TTD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Trade Desk, Inc. (NASDAQ:TTD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.