Charles Schwab Investment Management Inc. Acquires 110,145 Shares of The Trade Desk (NASDAQ:TTD)

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in The Trade Desk by 5.9%, acquiring an additional 110,145 shares, making its total ownership approximately 0.40% valued at $108.6 million.
• Several institutional investors have also raised their stakes in The Trade Desk, with 67.77% of the stock now owned by hedge funds and other institutions.
• Trade Desk's stock has a consensus rating of "Moderate Buy" with an average price target of $89.33, despite recent earnings missing analyst estimates.

Charles Schwab Investment Management Inc. boosted its holdings in The Trade Desk (NASDAQ:TTD - Free Report) by 5.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,985,284 shares of the technology company's stock after purchasing an additional 110,145 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.40% of Trade Desk worth $108,635,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Anchor Investment Management LLC increased its stake in shares of 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 purchasing an additional 150 shares during the period. Brighton Jones LLC increased its stake in shares of Trade Desk by 3.8% in the fourth quarter. Brighton Jones LLC now owns 4,586 shares of the technology company's stock valued at $539,000 after purchasing an additional 169 shares during the period. Peterson Wealth Services increased its stake in shares of Trade Desk by 2.2% in the first quarter. Peterson Wealth Services now owns 8,992 shares of the technology company's stock valued at $492,000 after purchasing an additional 190 shares during the period. Prosperity Consulting Group LLC increased its stake in shares of Trade Desk by 2.6% in the fourth quarter. Prosperity Consulting Group LLC now owns 7,834 shares of the technology company's stock valued at $921,000 after purchasing an additional 200 shares during the period. Finally, Cornerstone Wealth Management LLC increased its stake in shares of Trade Desk by 5.1% in the first quarter. Cornerstone Wealth Management LLC now owns 4,204 shares of the technology company's stock valued at $230,000 after purchasing an additional 205 shares during the period. 67.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on TTD. UBS Group restated a "buy" rating and issued a $105.00 price target (up previously from $80.00) on shares of Trade Desk in a research note on Wednesday, July 16th. Morgan Stanley raised their price target on shares of Trade Desk from $60.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. HSBC reiterated a "hold" rating and set a $56.00 price objective on shares of Trade Desk in a research note on Monday. Moffett Nathanson lowered shares of Trade Desk from a "neutral" rating to a "sell" rating and set a $45.00 price objective on the stock. in a research note on Friday. Finally, Piper Sandler lowered their price objective on shares of Trade Desk from $65.00 to $64.00 and set a "neutral" rating on the stock in a research note on Friday. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, Trade Desk presently has a consensus rating of "Moderate Buy" and an average target price of $89.33.

Trade Desk Stock Up 0.2%

Shares of NASDAQ:TTD traded up $0.10 during trading on Tuesday, reaching $53.27. 24,980,018 shares of the company traded hands, compared to its average volume of 22,969,036. The firm has a fifty day simple moving average of $75.45 and a 200 day simple moving average of $72.10. The firm has a market cap of $26.18 billion, a P/E ratio of 64.18, a price-to-earnings-growth ratio of 2.74 and a beta of 1.37. 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 issued its earnings results on Thursday, August 7th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.24). The company had revenue of $694.04 million for the quarter, compared to analyst estimates of $686.00 million. Trade Desk had a net margin of 15.57% and a return on equity of 15.19%. The company's quarterly revenue was up 18.7% on a year-over-year basis. During the same period last year, the business earned $0.39 EPS. As a group, research analysts anticipate that The Trade Desk will post 1.06 EPS for the current year.

Insider Buying and Selling at Trade Desk

In other news, insider Jay R. Grant sold 51,290 shares of the firm's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $91.18, for a total transaction of $4,676,622.20. Following the transaction, the insider owned 218,246 shares in the company, valued at approximately $19,899,670.28. This trade represents a 19.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 10.00% of the company's stock.

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.