The Trade Desk (NASDAQ:TTD) Shares Sold by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. reduced its stake in The Trade Desk by 30.2%, selling 178,074 shares in Q1, now holding approximately 0.08% of the company valued at $22.5 million.
• Analysts have mixed outlooks on Trade Desk, with price targets ranging from $60 to $105, while the overall consensus rating is a "Moderate Buy."
• Trade Desk reported earnings of $0.33 per share, surpassing estimates, with revenue growing 25.4% year-over-year, reaching $616.02 million for the quarter.

Federated Hermes Inc. cut its holdings in The Trade Desk (NASDAQ:TTD - Free Report) by 30.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 411,300 shares of the technology company's stock after selling 178,074 shares during the period. Federated Hermes Inc. owned 0.08% of Trade Desk worth $22,506,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in TTD. Brighton Jones LLC increased its position in shares of Trade Desk by 3.8% during the 4th quarter. Brighton Jones LLC now owns 4,586 shares of the technology company's stock valued at $539,000 after purchasing an additional 169 shares during the last quarter. Blair William & Co. IL raised its stake in Trade Desk by 52.5% in the fourth quarter. Blair William & Co. IL now owns 12,924 shares of the technology company's stock valued at $1,519,000 after buying an additional 4,448 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in Trade Desk by 5.5% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 43,822 shares of the technology company's stock valued at $5,150,000 after buying an additional 2,284 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Trade Desk by 0.7% in the fourth quarter. Wellington Management Group LLP now owns 1,559,508 shares of the technology company's stock worth $183,289,000 after purchasing an additional 10,109 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Trade Desk by 1.1% in the fourth quarter. Alliancebernstein L.P. now owns 344,924 shares of the technology company's stock worth $40,539,000 after purchasing an additional 3,788 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TTD has been the subject of several recent research reports. UBS Group reiterated a "buy" rating and set a $105.00 price target (up from $80.00) on shares of Trade Desk in a research report on Wednesday, July 16th. Guggenheim reduced their price objective on Trade Desk from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Arete Research upgraded Trade Desk to a "strong sell" rating in a research report on Monday. Piper Sandler boosted their price objective on Trade Desk from $55.00 to $65.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Finally, Citizens Jmp lowered their target price on Trade Desk from $115.00 to $100.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $100.09.

Trade Desk Stock Down 1.0%

Shares of TTD traded down $0.88 on Friday, reaching $86.08. The stock had a trading volume of 9,973,566 shares, compared to its average volume of 14,718,176. The firm has a market capitalization of $42.30 billion, a PE ratio of 104.98, a PEG ratio of 3.95 and a beta of 1.36. The firm has a 50-day moving average of $75.63 and a 200 day moving average of $74.76. The Trade Desk has a twelve month low of $42.96 and a twelve month high of $141.53.

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

Insider Buying and Selling

In other Trade Desk news, Director David B. Wells sold 28,638 shares of the 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 sale, the director owned 66,985 shares in the company, valued at approximately $5,350,761.80. This represents a 29.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 26,684 shares of the 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 in the company, valued at approximately $1,361,950.54. This trade represents a 61.06% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 10.00% 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.