Congress Asset Management Co. Has $80.88 Million Position in The Trade Desk, Inc. (NASDAQ:TTD)

Congress Asset Management Co. raised its holdings in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 47.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,478,070 shares of the technology company's stock after acquiring an additional 473,132 shares during the quarter. Congress Asset Management Co. owned about 0.30% of Trade Desk worth $80,880,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in Trade Desk by 3.8% during the fourth quarter. Brighton Jones LLC now owns 4,586 shares of the technology company's stock worth $539,000 after buying an additional 169 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its position in Trade Desk by 39.2% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 3,033 shares of the technology company's stock worth $356,000 after buying an additional 854 shares in the last quarter. Mather Group LLC. lifted its position in Trade Desk by 64.9% during the 4th quarter. Mather Group LLC. now owns 493 shares of the technology company's stock worth $58,000 after buying an additional 194 shares in the last quarter. Yousif Capital Management LLC lifted its position in Trade Desk by 5.4% during the 4th quarter. Yousif Capital Management LLC now owns 5,856 shares of the technology company's stock worth $688,000 after buying an additional 300 shares in the last quarter. Finally, Choreo LLC lifted its position in Trade Desk by 4.3% during the 4th quarter. Choreo LLC now owns 19,899 shares of the technology company's stock worth $2,384,000 after buying an additional 827 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on the company. Scotiabank dropped their price objective on Trade Desk from $133.00 to $83.00 and set a "sector perform" rating for the company in a report on Thursday, February 13th. Jefferies Financial Group set a $125.00 price objective on Trade Desk and gave the stock a "buy" rating in a report on Tuesday, April 29th. HSBC set a $75.00 price objective on Trade Desk and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Truist Financial boosted their price objective on Trade Desk from $95.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, Guggenheim dropped their price objective on Trade Desk from $110.00 to $90.00 and set a "buy" rating for the company in a report on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $97.15.

Trade Desk Stock Up 0.5%

Shares of TTD opened at $71.46 on Friday. The stock has a market capitalization of $35.12 billion, a P/E ratio of 91.62, a P/E/G ratio of 3.11 and a beta of 1.29. The Trade Desk, Inc. has a twelve month low of $42.96 and a twelve month high of $141.53. The company has a 50 day moving average of $61.50 and a 200-day moving average of $88.85.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. The company had revenue of $616.02 million during the quarter, compared to analysts' expectations of $575.62 million. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The business's quarterly revenue was up 25.4% on a year-over-year basis. During the same period last year, the business earned $0.26 EPS. On average, sell-side analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its board has approved a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in shares. This repurchase authorization authorizes the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Insider Activity

In other news, CEO Jeffrey Terry Green sold 26,684 shares of the 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 now owns 17,018 shares of the company's stock, valued at approximately $1,361,950.54. This represents a 61.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $2,287,603.44. Following the completion of the sale, the director now directly 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 disclosure for this sale can be found here. 9.74% of the stock is currently owned by insiders.

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.

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