Dover Advisors LLC Acquires Shares of 6,916 The Trade Desk, Inc. (NASDAQ:TTD)

Dover Advisors LLC bought a new position in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 6,916 shares of the technology company's stock, valued at approximately $378,000.

Other hedge funds have also made changes to their positions in the company. Focus Financial Network Inc. raised its position in shares of Trade Desk by 2.2% in the 4th quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company's stock worth $456,000 after acquiring an additional 84 shares in the last quarter. Centurion Wealth Management LLC raised its position in shares of Trade Desk by 2.6% in the 4th quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company's stock worth $443,000 after acquiring an additional 96 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of Trade Desk by 2.3% in the 4th quarter. Venturi Wealth Management LLC now owns 4,871 shares of the technology company's stock worth $572,000 after acquiring an additional 108 shares in the last quarter. Lane & Associates LLC raised its position in shares of Trade Desk by 2.6% in the 4th quarter. Lane & Associates LLC now owns 4,256 shares of the technology company's stock worth $505,000 after acquiring an additional 108 shares in the last quarter. Finally, Great Lakes Advisors LLC raised its position in shares of Trade Desk by 1.7% in the 4th quarter. Great Lakes Advisors LLC now owns 6,951 shares of the technology company's stock worth $817,000 after acquiring an additional 116 shares in the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Trade Desk Stock Performance

Trade Desk stock traded down $2.61 during midday trading on Friday, hitting $67.96. 6,699,048 shares of the company were exchanged, compared to its average volume of 6,167,440. The firm has a market capitalization of $33.40 billion, a PE ratio of 87.13, a price-to-earnings-growth ratio of 3.11 and a beta of 1.41. The Trade Desk, Inc. has a fifty-two week low of $42.96 and a fifty-two week high of $141.53. The business has a fifty day simple moving average of $63.73 and a two-hundred day simple moving average of $86.31.

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, beating the consensus estimate of $0.26 by $0.07. The company had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. Trade Desk's quarterly revenue was up 25.4% compared to the same quarter last year. During the same period last year, the company earned $0.26 earnings per share. As a group, equities analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wells Fargo & Company reduced their price target on Trade Desk from $101.00 to $72.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. Macquarie increased their price target on Trade Desk from $90.00 to $92.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Royal Bank of Canada decreased their price target on Trade Desk from $100.00 to $85.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. KeyCorp increased their price target on Trade Desk from $67.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Finally, JMP Securities decreased their price target on Trade Desk from $115.00 to $100.00 and set a "market outperform" rating for the company in a research note on Friday, May 9th. Seven research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.15.

Insider Buying and Selling

In other news, CEO Jeffrey Terry Green sold 26,684 shares of Trade Desk 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 sale, the chief executive officer now directly owns 17,018 shares of the company's stock, valued at $1,361,950.54. The trade was a 61.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David B. Wells sold 28,638 shares of Trade Desk stock in a transaction that occurred on 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 sale, the director now directly owns 66,985 shares in the company, valued at $5,350,761.80. This represents a 29.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.74% of the stock is owned by insiders.

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.