Cerity Partners LLC Has $2.23 Million Position in The Trade Desk (NASDAQ:TTD)

Cerity Partners LLC reduced its stake in The Trade Desk (NASDAQ:TTD - Free Report) by 45.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,770 shares of the technology company's stock after selling 34,353 shares during the period. Cerity Partners LLC's holdings in Trade Desk were worth $2,231,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Correct Capital Wealth Management boosted its position in shares of Trade Desk by 104.0% during the first quarter. Correct Capital Wealth Management now owns 9,094 shares of the technology company's stock worth $498,000 after buying an additional 4,637 shares during the period. Alps Advisors Inc. boosted its position in shares of Trade Desk by 75.0% during the first quarter. Alps Advisors Inc. now owns 28,390 shares of the technology company's stock worth $1,554,000 after buying an additional 12,168 shares during the period. LBP AM SA boosted its position in shares of Trade Desk by 116.1% during the first quarter. LBP AM SA now owns 64,154 shares of the technology company's stock worth $3,511,000 after buying an additional 34,465 shares during the period. Linden Thomas Advisory Services LLC boosted its position in shares of Trade Desk by 5.1% during the first quarter. Linden Thomas Advisory Services LLC now owns 25,628 shares of the technology company's stock worth $1,402,000 after buying an additional 1,234 shares during the period. Finally, Valeo Financial Advisors LLC boosted its position in shares of Trade Desk by 7.4% during the first quarter. Valeo Financial Advisors LLC now owns 9,462 shares of the technology company's stock worth $518,000 after buying an additional 656 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director David B. Wells sold 28,638 shares of the stock in a transaction that occurred on 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 directly owned 66,985 shares of the company's stock, valued at $5,350,761.80. This represents a 29.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey Terry Green sold 26,684 shares of the 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 sale, the chief executive officer directly owned 17,018 shares in the company, valued at $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. 9.72% of the stock is currently owned by corporate insiders.

Trade Desk Stock Performance

Shares of TTD traded down $0.18 during trading hours on Monday, reaching $80.03. 9,508,663 shares of the company traded hands, compared to its average volume of 7,156,131. The stock's fifty day moving average is $73.96 and its 200 day moving average is $76.62. The stock has a market cap of $39.33 billion, a P/E ratio of 97.60, a price-to-earnings-growth ratio of 3.67 and a beta of 1.36. The Trade Desk 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 earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. The business had revenue of $616.02 million for 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 revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.26 earnings per share. On average, equities research analysts predict that The Trade Desk will post 1.06 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TTD shares. Evercore ISI upgraded Trade Desk from an "in-line" rating to an "outperform" rating and set a $90.00 price objective for the company in a research report on Friday, June 27th. Jefferies Financial Group set a $125.00 price objective on Trade Desk and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Wells Fargo & Company cut Trade Desk from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $74.00 to $68.00 in a report on Thursday, June 26th. 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. Finally, Oppenheimer boosted 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 assigned a buy rating to the company's stock. According to MarketBeat, Trade Desk presently has a consensus rating of "Moderate Buy" and an average target price of $98.48.

About Trade Desk

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.