Bristlecone Advisors LLC Boosts Position in The Trade Desk (NASDAQ:TTD)

Bristlecone Advisors LLC grew its holdings in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 94.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,625 shares of the technology company's stock after buying an additional 18,809 shares during the period. Bristlecone Advisors LLC's holdings in Trade Desk were worth $2,114,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Brighton Jones LLC grew its stake in Trade Desk by 3.8% in 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 during the period. FMR LLC grew its stake in Trade Desk by 44.8% in the fourth quarter. FMR LLC now owns 3,788,285 shares of the technology company's stock worth $445,237,000 after purchasing an additional 1,172,082 shares during the period. Cerity Partners LLC grew its stake in Trade Desk by 2.1% in the fourth quarter. Cerity Partners LLC now owns 75,123 shares of the technology company's stock worth $8,681,000 after purchasing an additional 1,559 shares during the period. Bank of Nova Scotia grew its stake in Trade Desk by 1,112.2% in the fourth quarter. Bank of Nova Scotia now owns 84,989 shares of the technology company's stock worth $9,989,000 after purchasing an additional 77,978 shares during the period. Finally, Bessemer Group Inc. grew its stake in Trade Desk by 3.2% in the fourth quarter. Bessemer Group Inc. now owns 8,119 shares of the technology company's stock worth $955,000 after purchasing an additional 251 shares during the period. 67.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Rosenblatt Securities boosted their target price on Trade Desk from $77.00 to $78.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Piper Sandler boosted their target price on Trade Desk from $55.00 to $65.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Wedbush reissued an "outperform" rating and issued a $86.00 target price on shares of Trade Desk in a report on Tuesday, July 15th. HSBC set a $75.00 target price on Trade Desk and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Finally, Guggenheim dropped their target price on Trade Desk from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, May 9th. One 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 company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $98.73.

Trade Desk Stock Performance

TTD opened at $88.33 on Friday. The business's 50-day simple moving average is $76.70 and its 200-day simple moving average is $73.84. The Trade Desk has a one year low of $42.96 and a one year high of $141.53. The stock has a market capitalization of $43.41 billion, a P/E ratio of 107.72, a price-to-earnings-growth ratio of 4.07 and a beta of 1.37.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its earnings results on Thursday, August 7th. The technology company reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.24). The firm had revenue of $694.04 million for the quarter, compared to analyst estimates of $686.00 million. Trade Desk had a return on equity of 15.41% and a net margin of 16.04%. The firm's revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 EPS. On average, equities research analysts forecast that The Trade Desk will post 1.06 EPS for the current fiscal year.

Insider Activity

In related news, CEO Jeffrey Terry Green sold 26,684 shares of the business's stock in a transaction dated 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 owned 17,018 shares in the company, valued at $1,361,950.54. The trade was a 61.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David B. Wells sold 28,638 shares of the business's stock in a transaction dated 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 owned 66,985 shares in the company, valued at $5,350,761.80. This trade represents a 29.95% decrease in their position. The disclosure for this sale can be found here. Insiders own 10.00% of the company's stock.

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.

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