Blueshift Asset Management LLC Buys Shares of 5,782 The Trade Desk (NASDAQ:TTD)

Key Points

• Blueshift Asset Management LLC acquired 5,782 shares of The Trade Desk, valued at approximately $316,000, in its recent SEC filing.
• During the same quarter, several institutional investors made significant changes to their positions in TTD, with Strategic Advocates LLC increasing its stake by 41.3%.
• Trade Desk recently reported earnings per share (EPS) of $0.33, exceeding analyst expectations, with quarterly revenue up by 25.4% year-over-year.

Blueshift Asset Management LLC bought a new position in shares of The Trade Desk (NASDAQ:TTD - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,782 shares of the technology company's stock, valued at approximately $316,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in TTD. Strategic Advocates LLC increased its position in Trade Desk by 41.3% during the 1st quarter. Strategic Advocates LLC now owns 17,194 shares of the technology company's stock worth $941,000 after purchasing an additional 5,027 shares in the last quarter. Moors & Cabot Inc. grew its stake in shares of Trade Desk by 175.8% during the first quarter. Moors & Cabot Inc. now owns 14,556 shares of the technology company's stock worth $797,000 after buying an additional 9,278 shares during the last quarter. Bank of Jackson Hole Trust grew its stake in shares of Trade Desk by 32.3% during the first quarter. Bank of Jackson Hole Trust now owns 3,302 shares of the technology company's stock worth $181,000 after buying an additional 807 shares during the last quarter. Alberta Investment Management Corp acquired a new position in shares of Trade Desk during the first quarter worth $2,610,000. Finally, US Bancorp DE lifted its stake in shares of Trade Desk by 12.2% in the 1st quarter. US Bancorp DE now owns 1,105,744 shares of the technology company's stock valued at $60,506,000 after acquiring an additional 119,961 shares during the last quarter. Institutional investors own 67.77% of the company's stock.

Insider Transactions at Trade Desk

In other Trade Desk news, 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 value of $2,287,603.44. Following the transaction, the director owned 66,985 shares in the company, valued at approximately $5,350,761.80. This represents a 29.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 26,684 shares of the firm'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 value of $2,135,520.52. Following the completion of the sale, the chief executive officer directly owned 17,018 shares of the company's stock, valued at $1,361,950.54. This trade represents a 61.06% decrease in their position. The disclosure for this sale can be found here. 10.00% of the stock is owned by corporate insiders.

Trade Desk Stock Performance

Trade Desk stock opened at $86.08 on Friday. The stock has a market capitalization of $42.30 billion, a price-to-earnings ratio of 104.98, a PEG ratio of 3.91 and a beta of 1.36. The Trade Desk has a 52-week low of $42.96 and a 52-week high of $141.53. The stock's 50 day moving average price is $75.63 and its two-hundred day moving average price is $74.45.

Trade Desk (NASDAQ:TTD - Get Free Report) last released 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. The company had revenue of $616.02 million for the quarter, compared to the consensus estimate of $575.62 million. Trade Desk had a net margin of 16.04% and a return on equity of 15.41%. 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 company earned $0.26 EPS. On average, equities research analysts forecast that The Trade Desk will post 1.06 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TTD shares. Wells Fargo & Company downgraded Trade Desk from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $74.00 to $68.00 in a report on Thursday, June 26th. DA Davidson cut their price target 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. Evercore ISI upgraded Trade Desk from an "in-line" rating to an "outperform" rating and set a $90.00 price target on the stock in a report on Friday, June 27th. Macquarie raised their price objective on shares of Trade Desk from $90.00 to $92.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Finally, Truist Financial lifted their target price on shares of Trade Desk from $95.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-six have issued a buy rating to the company's stock. Based on data from MarketBeat, Trade Desk currently has a consensus rating of "Moderate Buy" and a consensus target price of $100.09.

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 (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.