Gagnon Securities LLC Acquires Shares of 6,599 The Trade Desk (NASDAQ:TTD)

Key Points

• Gagnon Securities LLC has acquired 6,599 shares of The Trade Desk, marking a new stake valued at approximately $361,000.
• The Trade Desk reported a quarterly EPS of $0.33, exceeding analysts' expectations, with a revenue of $616.02 million, up 25.4% year-over-year.
• A number of institutional investors, including Banque Cantonale Vaudoise and Cloud Capital Management LLC, have also increased their positions in The Trade Desk, highlighting strong institutional interest with 67.77% of the stock owned by institutions.

Gagnon Securities LLC acquired a new position in The Trade Desk (NASDAQ:TTD - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,599 shares of the technology company's stock, valued at approximately $361,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its position in shares of Trade Desk by 3,876.8% during the first quarter. GAMMA Investing LLC now owns 91,984 shares of the technology company's stock valued at $5,033,000 after buying an additional 89,671 shares during the last quarter. Dynamic Advisor Solutions LLC bought a new position in shares of Trade Desk during the 1st quarter worth approximately $995,000. LBP AM SA lifted its position in Trade Desk by 116.1% during the first quarter. LBP AM SA now owns 64,154 shares of the technology company's stock valued at $3,511,000 after acquiring an additional 34,465 shares during the last quarter. Bryce Point Capital LLC lifted its position in Trade Desk by 302.9% during the first quarter. Bryce Point Capital LLC now owns 16,727 shares of the technology company's stock valued at $915,000 after acquiring an additional 12,575 shares during the last quarter. Finally, Peregrine Capital Management LLC boosted its stake in Trade Desk by 40.2% in the first quarter. Peregrine Capital Management LLC now owns 579,877 shares of the technology company's stock valued at $31,731,000 after acquiring an additional 166,332 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TTD. Stifel Nicolaus reduced their price target on Trade Desk from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday. Piper Sandler lowered their price target on Trade Desk from $65.00 to $64.00 and set a "neutral" rating for the company in a report on Friday. Wells Fargo & Company lowered Trade Desk from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $74.00 to $68.00 in a research note on Thursday, June 26th. Morgan Stanley increased their price objective on shares of Trade Desk from $60.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Finally, Scotiabank dropped their target price on shares of Trade Desk from $83.00 to $60.00 and set a "sector perform" rating on the stock in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $92.18.

Trade Desk Stock Down 38.6%

Shares of TTD stock traded down $34.10 during trading hours on Friday, hitting $54.23. 105,069,220 shares of the company's stock were exchanged, compared to its average volume of 16,531,314. The Trade Desk has a fifty-two week low of $42.96 and a fifty-two week high of $141.53. The firm has a market cap of $26.65 billion, a P/E ratio of 65.34, a P/E/G ratio of 4.01 and a beta of 1.37. The firm has a 50 day moving average of $76.31 and a two-hundred day moving average of $73.35.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). The firm had revenue of $694.04 million for the quarter, compared to analyst estimates of $686.00 million. Trade Desk had a return on equity of 15.10% and a net margin of 15.57%. Trade Desk's revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.39 earnings per share. On average, equities analysts forecast that The Trade Desk will post 1.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jeffrey Terry Green sold 26,684 shares of the company'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 directly owned 17,018 shares of the company's stock, valued at approximately $1,361,950.54. This represents a 61.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David B. Wells sold 28,638 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total value of $2,287,603.44. Following the sale, the director directly owned 66,985 shares in the company, valued at $5,350,761.80. This trade represents a 29.95% decrease in their position. The disclosure for this sale can be found here. Company insiders own 10.00% of the company's stock.

Trade Desk 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.