Correct Capital Wealth Management Grows Stock Holdings in The Trade Desk (NASDAQ:TTD)

Correct Capital Wealth Management grew its holdings in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 104.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,094 shares of the technology company's stock after buying an additional 4,637 shares during the quarter. Correct Capital Wealth Management's holdings in Trade Desk were worth $498,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TTD. Investment Management Corp VA ADV acquired a new stake in Trade Desk in the fourth quarter valued at $25,000. Cloud Capital Management LLC bought a new position in shares of Trade Desk during the 1st quarter valued at about $27,000. von Borstel & Associates Inc. bought a new position in shares of Trade Desk during the 1st quarter valued at about $31,000. Zions Bancorporation N.A. lifted its stake in Trade Desk by 148.3% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock valued at $34,000 after buying an additional 175 shares in the last quarter. Finally, Alpine Bank Wealth Management purchased a new stake in Trade Desk during the first quarter valued at about $35,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Trade Desk Price Performance

Shares of TTD stock opened at $76.42 on Thursday. The stock has a market capitalization of $37.55 billion, a PE ratio of 93.17, a P/E/G ratio of 3.40 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. The business has a 50-day moving average of $71.06 and a 200 day moving average of $79.26.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. Trade Desk had a return on equity of 15.41% and a net margin of 16.04%. The business had revenue of $616.02 million during the quarter, compared to analyst estimates of $575.62 million. During the same quarter in the prior year, the company posted $0.26 EPS. Trade Desk's quarterly revenue was up 25.4% compared to the same quarter last year. Analysts anticipate that The Trade Desk will post 1.06 EPS for the current year.

Analyst Ratings Changes

Several brokerages have commented on TTD. Cfra Research upgraded Trade Desk to a "moderate buy" rating in a report on Tuesday, March 25th. UBS Group lowered their price target on Trade Desk from $116.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, April 11th. KeyCorp increased their price target on Trade Desk from $67.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Needham & Company LLC reiterated a "buy" rating and set a $84.00 price target on shares of Trade Desk in a report on Friday, June 6th. Finally, Macquarie increased their price target on Trade Desk from $90.00 to $92.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Eight analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $97.27.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 26,684 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was 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 of the company's stock, valued at $1,361,950.54. This trade represents a 61.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David B. Wells sold 28,638 shares of Trade Desk stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total value of $2,287,603.44. Following the completion of the transaction, the director owned 66,985 shares of the company's stock, valued at approximately $5,350,761.80. This represents a 29.95% decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.74% of the company's stock.

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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