Commerce Bank Sells 16,836 Shares of The Trade Desk (NASDAQ:TTD)

Key Points

• Commerce Bank has reduced its stake in The Trade Desk by 30.9%, selling 16,836 shares to hold a total of 37,703 shares valued at approximately $2.06 million.
• Several hedge funds have increased their investments in The Trade Desk, with Brown Advisory Inc. raising its stake by 198.4% to own over 8.1 million shares, worth around $443 million.
• Trade Desk reported a quarterly EPS of $0.33, exceeding analyst expectations, and its revenue increased by 25.4% year-over-year, totaling $616 million.

Commerce Bank lessened its position in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 30.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 37,703 shares of the technology company's stock after selling 16,836 shares during the quarter. Commerce Bank's holdings in Trade Desk were worth $2,063,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brown Advisory Inc. grew its position in shares of Trade Desk by 198.4% during the 1st quarter. Brown Advisory Inc. now owns 8,102,294 shares of the technology company's stock worth $443,358,000 after buying an additional 5,387,339 shares during the period. FMR LLC grew its position in Trade Desk by 44.8% in the 4th quarter. FMR LLC now owns 3,788,285 shares of the technology company's stock valued at $445,237,000 after purchasing an additional 1,172,082 shares during the period. Nuveen Asset Management LLC grew its position in Trade Desk by 22.6% in the 4th quarter. Nuveen Asset Management LLC now owns 2,844,036 shares of the technology company's stock valued at $334,260,000 after purchasing an additional 523,627 shares during the period. Congress Asset Management Co. grew its position in Trade Desk by 47.1% in the 1st quarter. Congress Asset Management Co. now owns 1,478,070 shares of the technology company's stock valued at $80,880,000 after purchasing an additional 473,132 shares during the period. Finally, Northern Trust Corp grew its position in Trade Desk by 16.6% in the 4th quarter. Northern Trust Corp now owns 3,090,014 shares of the technology company's stock valued at $363,169,000 after purchasing an additional 439,725 shares during the period. Institutional investors and hedge funds own 67.77% of the company's stock.

Trade Desk Trading Down 2.3%

Shares of NASDAQ TTD traded down $2.06 during midday trading on Tuesday, hitting $87.70. 8,522,929 shares of the company's stock were exchanged, compared to its average volume of 15,379,437. The Trade Desk has a 12-month low of $42.96 and a 12-month high of $141.53. The company has a market cap of $43.10 billion, a price-to-earnings ratio of 106.95, a PEG ratio of 4.08 and a beta of 1.37. The business's fifty day moving average price is $76.18 and its two-hundred day moving average price is $73.98.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its quarterly earnings data 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 return on equity of 15.41% and a net margin of 16.04%. The company had revenue of $616.02 million during the quarter, compared to analyst estimates of $575.62 million. During the same quarter in the previous year, the firm earned $0.26 earnings per share. Trade Desk's revenue was up 25.4% on a year-over-year basis. Equities analysts expect that The Trade Desk will post 1.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Citigroup reissued a "buy" rating on shares of Trade Desk in a research report on Tuesday, July 15th. Macquarie lifted their price target on shares of Trade Desk from $90.00 to $92.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Wells Fargo & Company downgraded shares of Trade Desk from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $74.00 to $68.00 in a research report on Thursday, June 26th. Oppenheimer raised their price objective on Trade Desk from $80.00 to $110.00 and gave the company an "outperform" rating in a research note on Tuesday, July 29th. Finally, Guggenheim dropped their price objective on Trade Desk from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat, Trade Desk has a consensus rating of "Moderate Buy" and an average target price of $98.73.

Insider Buying and Selling

In other Trade Desk news, CEO Jeffrey Terry Green sold 26,684 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 17,018 shares in the company, valued at approximately $1,361,950.54. The trade was a 61.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David B. Wells sold 28,638 shares of the business's stock in a transaction that occurred on 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 sale, the director owned 66,985 shares of the company's stock, valued at $5,350,761.80. The trade was 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.