Envestnet Asset Management Inc. Has $68.78 Million Stake in The Trade Desk (NASDAQ:TTD)

Envestnet Asset Management Inc. lifted its position in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 43.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,257,022 shares of the technology company's stock after acquiring an additional 379,038 shares during the quarter. Envestnet Asset Management Inc. owned 0.25% of Trade Desk worth $68,784,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC lifted its stake in Trade Desk by 3,876.8% in the 1st quarter. GAMMA Investing LLC now owns 91,984 shares of the technology company's stock valued at $5,033,000 after buying an additional 89,671 shares in the last quarter. Dynamic Advisor Solutions LLC acquired a new stake in Trade Desk in the 1st quarter valued at approximately $995,000. Peregrine Capital Management LLC increased its holdings in Trade Desk by 40.2% in the 1st quarter. Peregrine Capital Management LLC now owns 579,877 shares of the technology company's stock valued at $31,731,000 after purchasing an additional 166,332 shares during the last quarter. Vanguard Group Inc. boosted its position in Trade Desk by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company's stock valued at $5,015,035,000 after buying an additional 253,137 shares during the period. Finally, Wealth Effects LLC increased its stake in Trade Desk by 11.5% in the first quarter. Wealth Effects LLC now owns 64,742 shares of the technology company's stock valued at $3,543,000 after purchasing an additional 6,684 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Trade Desk Stock Performance

TTD traded down $1.47 during trading on Friday, reaching $75.38. 5,948,202 shares of the company's stock were exchanged, compared to its average volume of 6,405,412. The company's fifty day moving average price is $71.96 and its 200-day moving average price is $78.62. The Trade Desk has a fifty-two week low of $42.96 and a fifty-two week high of $141.53. The firm has a market capitalization of $37.04 billion, a PE ratio of 91.93, a P/E/G ratio of 3.53 and a beta of 1.36.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.07. Trade Desk had a net margin of 16.04% and a return on equity of 15.41%. The firm 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 business earned $0.26 EPS. The business's quarterly revenue was up 25.4% compared to the same quarter last year. Research analysts forecast that The Trade Desk will post 1.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jeffrey Terry Green sold 26,684 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $80.03, for a total value of $2,135,520.52. Following the sale, the chief executive officer owned 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 document filed with the SEC, which can be accessed through the SEC website. Also, Director David B. Wells sold 28,638 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the completion of the sale, the director directly owned 66,985 shares in the company, 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. 9.74% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TTD. Citigroup upped their target price on shares of Trade Desk from $82.00 to $90.00 and gave the company a "buy" rating in a report on Tuesday, July 1st. UBS Group decreased their target price on shares of Trade Desk from $116.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. KeyCorp lifted their price target on shares of Trade Desk from $67.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Wedbush reiterated an "outperform" rating and issued a $86.00 price target (up previously from $80.00) on shares of Trade Desk in a report on Friday, May 9th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $100.00 price target on shares of Trade Desk in a report on Tuesday, June 24th. Eight investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat.com, Trade Desk has an average rating of "Moderate Buy" and an average price target of $97.27.

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.