Clare Market Investments LLC Buys 16,173 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Clare Market Investments LLC grew its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 188.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,752 shares of the technology company's stock after buying an additional 16,173 shares during the period. Clare Market Investments LLC's holdings in Trade Desk were worth $1,354,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in TTD. Focus Financial Network Inc. lifted its holdings in shares of Trade Desk by 2.2% in the fourth quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company's stock valued at $456,000 after buying an additional 84 shares during the period. Quotient Wealth Partners LLC raised its holdings in shares of Trade Desk by 4.2% in the 4th quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company's stock worth $276,000 after purchasing an additional 94 shares in the last quarter. TFB Advisors LLC lifted its stake in Trade Desk by 2.6% during the fourth quarter. TFB Advisors LLC now owns 3,759 shares of the technology company's stock valued at $442,000 after purchasing an additional 94 shares during the last quarter. Centurion Wealth Management LLC boosted its holdings in Trade Desk by 2.6% during the fourth quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company's stock worth $443,000 after buying an additional 96 shares in the last quarter. Finally, Values First Advisors Inc. boosted its holdings in Trade Desk by 0.9% during the fourth quarter. Values First Advisors Inc. now owns 11,892 shares of the technology company's stock worth $1,398,000 after buying an additional 107 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Trade Desk

In related news, Director David B. Wells sold 28,638 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the completion of the transaction, the director now owns 66,985 shares of the company's stock, valued at approximately $5,350,761.80. The trade was a 29.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $2,135,520.52. Following the sale, the chief executive officer now owns 17,018 shares of the company's stock, valued at approximately $1,361,950.54. The trade was a 61.06% decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Cfra Research upgraded Trade Desk to a "moderate buy" rating in a research report on Tuesday, March 25th. Wedbush reaffirmed an "outperform" rating and set a $86.00 target price (up from $80.00) on shares of Trade Desk in a report on Friday, May 9th. Macquarie lifted their price target on Trade Desk from $90.00 to $92.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. Wells Fargo & Company cut their price objective on Trade Desk from $101.00 to $72.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. Finally, Benchmark upgraded shares of Trade Desk from a "sell" rating to a "hold" rating in a report on Friday, March 7th. Seven 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 data from MarketBeat, Trade Desk currently has a consensus rating of "Moderate Buy" and an average price target of $97.12.

Trade Desk Stock Down 6.5%

Shares of TTD traded down $4.94 during mid-day trading on Thursday, hitting $71.11. 12,279,160 shares of the company's stock were exchanged, compared to its average volume of 6,088,198. The stock has a market cap of $34.95 billion, a price-to-earnings ratio of 91.17, a P/E/G ratio of 3.11 and a beta of 1.29. The firm has a fifty day moving average of $61.21 and a two-hundred day moving average of $89.18. The Trade Desk, Inc. has a twelve month low of $42.96 and a twelve month 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 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The firm had revenue of $616.02 million for the quarter, compared to the consensus estimate of $575.62 million. During the same period in the prior year, the business posted $0.26 earnings per share. The business's quarterly revenue was up 25.4% on a year-over-year basis. On average, equities analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk declared that its Board of Directors has approved a share repurchase program on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

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.