Envestnet Portfolio Solutions Inc. Grows Stock Holdings in The Trade Desk (NASDAQ:TTD)

Envestnet Portfolio Solutions Inc. lifted its position in The Trade Desk (NASDAQ:TTD - Free Report) by 22.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 107,923 shares of the technology company's stock after buying an additional 20,145 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Trade Desk were worth $5,906,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in Trade Desk by 3.8% in the fourth quarter. Brighton Jones LLC now owns 4,586 shares of the technology company's stock worth $539,000 after purchasing an additional 169 shares during the last quarter. Principal Securities Inc. boosted its position in shares of Trade Desk by 6.9% in the 4th quarter. Principal Securities Inc. now owns 7,675 shares of the technology company's stock worth $902,000 after purchasing an additional 496 shares in the last quarter. Allworth Financial LP grew its stake in Trade Desk by 46.3% during the 4th quarter. Allworth Financial LP now owns 5,470 shares of the technology company's stock worth $660,000 after buying an additional 1,732 shares during the last quarter. Atria Wealth Solutions Inc. increased its position in Trade Desk by 0.9% during the 4th quarter. Atria Wealth Solutions Inc. now owns 26,734 shares of the technology company's stock valued at $3,142,000 after buying an additional 243 shares in the last quarter. Finally, Kestra Investment Management LLC purchased a new stake in Trade Desk in the fourth quarter valued at about $39,000. Hedge funds and other institutional investors own 67.77% of the company's stock.

Insider Activity at Trade Desk

In other news, Director David B. Wells sold 28,638 shares of the company's stock in a transaction on 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 completion of the sale, the director now owns 66,985 shares of the company's stock, valued at $5,350,761.80. This represents a 29.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the transaction, the chief executive officer now directly owns 17,018 shares in the company, valued at approximately $1,361,950.54. This represents a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

TTD has been the topic of several recent analyst reports. Macquarie upped their price objective on shares of Trade Desk from $90.00 to $92.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Oppenheimer upped their price target on shares of Trade Desk from $75.00 to $80.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. Guggenheim decreased their price target on shares of Trade Desk from $110.00 to $90.00 and set a "buy" rating for the company in a report on Friday, May 9th. Wedbush reissued an "outperform" rating and set a $86.00 price objective (up from $80.00) on shares of Trade Desk in a report on Friday, May 9th. Finally, DA Davidson cut their target price on Trade Desk from $103.00 to $92.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Seven investment 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, the company has a consensus rating of "Moderate Buy" and a consensus target price of $97.15.

Trade Desk Price Performance

Shares of TTD stock opened at $68.23 on Friday. The Trade Desk has a 1-year low of $42.96 and a 1-year high of $141.53. The company has a market cap of $33.53 billion, a price-to-earnings ratio of 83.21, a PEG ratio of 3.15 and a beta of 1.41. The stock has a 50 day simple moving average of $65.54 and a 200-day simple moving average of $84.71.

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

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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