Envestnet Portfolio Solutions Inc. Cuts Holdings in The Trade Desk $TTD

Key Points

• Envestnet Portfolio Solutions cut its Trade Desk stake by 89.6% in the fourth quarter, selling 103,385 shares and leaving it with 11,994 shares worth about $455,000.
• Trade Desk reported Q1 earnings of $0.08 per share, well below analyst expectations of $0.32, even though revenue of $688.86 million slightly topped estimates and rose 11.8% year over year.
• Analyst sentiment remains cautious: several firms lowered price targets, and MarketBeat shows a consensus rating of Hold with an average target price of $34.61.

Envestnet Portfolio Solutions Inc. decreased its stake in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 89.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,994 shares of the technology company's stock after selling 103,385 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Trade Desk were worth $455,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Trade Desk by 27.7% during the 3rd quarter. Vanguard Group Inc. now owns 56,875,852 shares of the technology company's stock worth $2,787,486,000 after purchasing an additional 12,321,000 shares during the period. State Street Corp increased its holdings in Trade Desk by 271.1% during the 3rd quarter. State Street Corp now owns 36,354,274 shares of the technology company's stock worth $1,781,723,000 after purchasing an additional 26,559,005 shares during the period. Invesco Ltd. increased its holdings in Trade Desk by 101.0% during the 3rd quarter. Invesco Ltd. now owns 6,807,971 shares of the technology company's stock worth $333,659,000 after purchasing an additional 3,421,074 shares during the period. Jericho Capital Asset Management L.P. increased its holdings in Trade Desk by 86.3% during the 3rd quarter. Jericho Capital Asset Management L.P. now owns 4,067,000 shares of the technology company's stock worth $199,324,000 after purchasing an additional 1,884,000 shares during the period. Finally, Northern Trust Corp increased its holdings in Trade Desk by 34.3% during the 3rd quarter. Northern Trust Corp now owns 3,893,963 shares of the technology company's stock worth $190,843,000 after purchasing an additional 993,739 shares during the period. Hedge funds and other institutional investors own 67.77% of the company's stock.

Trade Desk Stock Up 0.5%

NASDAQ:TTD opened at $22.29 on Thursday. The stock's 50 day moving average price is $22.37 and its 200 day moving average price is $29.98. The company has a market capitalization of $10.48 billion, a PE ratio of 25.33, a P/E/G ratio of 1.07 and a beta of 1.10. The Trade Desk has a 52-week low of $19.74 and a 52-week high of $91.45.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.24). The firm had revenue of $688.86 million for the quarter, compared to analysts' expectations of $678.87 million. Trade Desk had a return on equity of 16.91% and a net margin of 14.57%.The company's quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.33 EPS. As a group, sell-side analysts anticipate that The Trade Desk will post 1.17 EPS for the current fiscal year.

Trade Desk announced that its board has approved a stock repurchase plan on Wednesday, February 25th that allows the company to repurchase $350.00 million in shares. This repurchase authorization allows the technology company to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

TTD has been the topic of a number of recent analyst reports. Benchmark dropped their price objective on Trade Desk from $40.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Wells Fargo & Company set a $20.00 price objective on Trade Desk and gave the company an "equal weight" rating in a report on Friday, May 8th. Truist Financial set a $35.00 price objective on Trade Desk and gave the company a "buy" rating in a report on Friday, May 8th. UBS Group set a $31.00 price objective on Trade Desk and gave the company a "buy" rating in a report on Tuesday, April 21st. Finally, Needham & Company LLC dropped their price objective on Trade Desk from $32.00 to $25.00 and set a "buy" rating on the stock in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twenty-one have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $34.61.

Insiders Place Their Bets

In other Trade Desk news, Director Kathryn E. Falberg sold 50,000 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $30.48, for a total transaction of $1,524,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 11.41% of the company's stock.

Trade Desk Profile

The Trade Desk, Inc NASDAQ: TTD is a technology company that provides a demand-side platform (DSP) for programmatic digital advertising. Its platform enables advertisers, agencies and other buyers to plan, purchase and measure ad inventory across digital channels, including display, video, mobile, audio, native and connected TV. By centralizing real‑time bidding, audience targeting and inventory access, the company aims to help clients optimize media spend and reach audiences at scale across publishers and ad exchanges.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk grew from a focus on programmatic display into a global ad‑tech provider.

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