Evergreen Wealth Management LLC Buys 9,133 Shares of The Trade Desk (NASDAQ:TTD)

Evergreen Wealth Management LLC boosted its holdings in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 112.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,248 shares of the technology company's stock after purchasing an additional 9,133 shares during the quarter. Evergreen Wealth Management LLC's holdings in Trade Desk were worth $944,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in TTD. Investment Management Corp VA ADV bought a new position in Trade Desk during the fourth quarter worth $25,000. Cloud Capital Management LLC bought a new position in Trade Desk in the 1st quarter worth about $27,000. von Borstel & Associates Inc. acquired a new stake in shares of Trade Desk in the first quarter valued at approximately $31,000. Zions Bancorporation N.A. increased its stake in shares of 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 purchasing an additional 175 shares during the period. Finally, Alpine Bank Wealth Management bought a new stake in shares of Trade Desk during the first quarter valued at approximately $35,000. 67.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on TTD. KeyCorp lifted their target price on Trade Desk from $80.00 to $95.00 and gave the company an "overweight" rating in a research note on Thursday. Guggenheim cut their price objective on shares of Trade Desk from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Piper Sandler upped their price objective on shares of Trade Desk from $55.00 to $65.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. UBS Group reissued a "buy" rating and set a $105.00 target price (up previously from $80.00) on shares of Trade Desk in a research note on Wednesday. Finally, Citigroup restated a "buy" rating on shares of Trade Desk in a research report on Tuesday. Eight investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $98.48.

Trade Desk Price Performance

TTD stock traded down $1.23 during midday trading on Friday, hitting $80.21. The company's stock had a trading volume of 11,384,941 shares, compared to its average volume of 7,126,457. The company's fifty day moving average price is $73.96 and its 200 day moving average price is $77.18. The Trade Desk has a twelve month low of $42.96 and a twelve month high of $141.53. The stock has a market capitalization of $39.42 billion, a P/E ratio of 97.82, a PEG ratio of 3.74 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. The business 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 15.41% and a net margin of 16.04%. Trade Desk's revenue was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.26 earnings per share. Equities analysts expect that The Trade Desk will post 1.06 EPS for the current fiscal year.

Insider Activity at Trade Desk

In other news, Director David B. Wells sold 28,638 shares of Trade Desk stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total value of $2,287,603.44. Following the completion of the transaction, the director owned 66,985 shares of the company's stock, valued at $5,350,761.80. This trade represents a 29.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeffrey Terry Green sold 26,684 shares of the business'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 transaction, the chief executive officer owned 17,018 shares in the company, valued at $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. Corporate insiders own 9.74% of the company's stock.

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.