Dakota Wealth Management Reduces Stock Holdings in The Trade Desk (NASDAQ:TTD)

Dakota Wealth Management cut its stake in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 72.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,467 shares of the technology company's stock after selling 19,463 shares during the quarter. Dakota Wealth Management's holdings in Trade Desk were worth $409,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Douglass Winthrop Advisors LLC grew its stake in shares of Trade Desk by 2.7% in the fourth quarter. Douglass Winthrop Advisors LLC now owns 4,464 shares of the technology company's stock worth $525,000 after purchasing an additional 117 shares in the last quarter. Anchor Investment Management LLC grew its holdings in Trade Desk by 17.2% in the 4th quarter. Anchor Investment Management LLC now owns 1,020 shares of the technology company's stock valued at $120,000 after buying an additional 150 shares during the last quarter. Brighton Jones LLC grew its holdings in shares of Trade Desk by 3.8% during the 4th quarter. Brighton Jones LLC now owns 4,586 shares of the technology company's stock worth $539,000 after purchasing an additional 169 shares in the last quarter. Zions Bancorporation N.A. grew its position in Trade Desk by 148.3% in the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock valued at $34,000 after acquiring an additional 175 shares during the period. Finally, Interchange Capital Partners LLC increased its stake in shares of Trade Desk by 4.4% in the fourth quarter. Interchange Capital Partners LLC now owns 4,202 shares of the technology company's stock valued at $494,000 after buying an additional 179 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company's stock.

Trade Desk Price Performance

Shares of TTD stock opened at $81.44 on Friday. The business has a 50 day simple moving average of $73.78 and a 200 day simple moving average of $77.44. The firm has a market capitalization of $40.02 billion, a price-to-earnings ratio of 99.32, a price-to-earnings-growth ratio of 3.72 and a beta of 1.36. The Trade Desk has a 12-month low of $42.96 and a 12-month high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $575.62 million. During the same period last year, the business earned $0.26 earnings per share. The firm's revenue for the quarter was up 25.4% compared to the same quarter last year. On average, equities analysts anticipate that The Trade Desk will post 1.06 EPS for the current fiscal year.

Insider Activity

In other news, Director David B. Wells sold 28,638 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the transaction, the director owned 66,985 shares of the company's stock, valued at $5,350,761.80. This represents a 29.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey Terry Green sold 26,684 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the completion of the sale, the chief executive officer owned 17,018 shares of the company's stock, valued at approximately $1,361,950.54. This trade represents a 61.06% decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. DA Davidson decreased their target price on Trade Desk from $103.00 to $92.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Wells Fargo & Company lowered Trade Desk from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $74.00 to $68.00 in a report on Thursday, June 26th. Jefferies Financial Group set a $125.00 price target on Trade Desk and gave the company a "buy" rating in a research report on Tuesday, April 29th. Guggenheim reduced their price target on Trade Desk from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, Piper Sandler lifted their price target on Trade Desk from $55.00 to $65.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Eight analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $98.48.

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.

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