Fulton Bank N.A. Sells 5,216 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Fulton Bank N.A. lessened its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 27.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,770 shares of the technology company's stock after selling 5,216 shares during the period. Fulton Bank N.A.'s holdings in Trade Desk were worth $753,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of TTD. Investment Management Corp VA ADV acquired a new stake in shares of Trade Desk in the 4th quarter valued at about $25,000. Rialto Wealth Management LLC bought a new position in shares of Trade Desk during the fourth quarter worth about $26,000. Midwest Capital Advisors LLC acquired a new stake in Trade Desk in the 4th quarter valued at approximately $34,000. Zions Bancorporation N.A. raised its position in Trade Desk by 148.3% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock valued at $34,000 after buying an additional 175 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new stake in Trade Desk in the 4th quarter valued at approximately $39,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Trade Desk

In other news, Director David B. Wells sold 28,638 shares of the company's stock in a transaction that occurred 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 approximately $5,350,761.80. This represents a 29.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 26,684 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $80.03, for a total value of $2,135,520.52. Following the sale, the chief executive officer now owns 17,018 shares of the company's stock, 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 insiders.

Trade Desk Stock Performance

NASDAQ:TTD traded down $4.94 during mid-day trading on Thursday, reaching $71.11. 12,279,160 shares of the company's stock were exchanged, compared to its average volume of 6,082,546. The Trade Desk, Inc. has a one year low of $42.96 and a one year high of $141.53. The business's fifty day simple moving average is $60.88 and its two-hundred day simple moving average is $89.50. The firm has a market capitalization of $34.95 billion, a PE ratio of 91.17, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.07. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The firm had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. During the same quarter in the prior year, the business posted $0.26 EPS. The business's revenue was up 25.4% compared to the same quarter last year. As a group, equities research analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 0.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $84.00 price target on shares of Trade Desk in a research note on Thursday, May 15th. HSBC set a $75.00 target price on shares of Trade Desk and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Scotiabank cut their price target on shares of Trade Desk from $133.00 to $83.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 13th. Wells Fargo & Company reduced their price objective on shares of Trade Desk from $101.00 to $72.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. Finally, Morgan Stanley raised their price objective on Trade Desk from $60.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Seven research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $97.12.

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.