GAMMA Investing LLC Boosts Stake in The Trade Desk, Inc. (NASDAQ:TTD)

GAMMA Investing LLC raised its position in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 3,876.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,984 shares of the technology company's stock after acquiring an additional 89,671 shares during the quarter. GAMMA Investing LLC's holdings in Trade Desk were worth $5,033,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC grew its stake in shares of 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 acquiring an additional 169 shares in the last quarter. Yousif Capital Management LLC grew its stake in Trade Desk by 5.4% during the 4th quarter. Yousif Capital Management LLC now owns 5,856 shares of the technology company's stock worth $688,000 after purchasing an additional 300 shares in the last quarter. Empowered Funds LLC increased its holdings in Trade Desk by 322.2% during the 4th quarter. Empowered Funds LLC now owns 62,230 shares of the technology company's stock worth $7,314,000 after purchasing an additional 47,492 shares during the period. Stephens Inc. AR raised its position in Trade Desk by 16.2% in the 4th quarter. Stephens Inc. AR now owns 9,228 shares of the technology company's stock valued at $1,085,000 after purchasing an additional 1,284 shares in the last quarter. Finally, Kestra Private Wealth Services LLC boosted its stake in shares of Trade Desk by 15.1% in the 4th quarter. Kestra Private Wealth Services LLC now owns 12,263 shares of the technology company's stock valued at $1,441,000 after buying an additional 1,613 shares during the period. 67.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Jeffrey Terry Green sold 26,684 shares of the company's stock in a transaction that occurred 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 in the company, valued at $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 is available at this hyperlink. Also, Director David B. Wells sold 28,638 shares of the business's stock in a transaction on 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 now owns 66,985 shares in the company, valued at approximately $5,350,761.80. The trade was a 29.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.74% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on TTD shares. Guggenheim lowered 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. HSBC set a $75.00 price objective on shares of Trade Desk and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Benchmark raised Trade Desk from a "sell" rating to a "hold" rating in a report on Friday, March 7th. Piper Sandler raised their price target on Trade Desk from $55.00 to $65.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Finally, JMP Securities decreased their price target on Trade Desk from $115.00 to $100.00 and set a "market outperform" rating for the company 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 data from MarketBeat, Trade Desk presently has a consensus rating of "Moderate Buy" and an average target price of $97.15.

Trade Desk Price Performance

NASDAQ TTD traded down $0.60 on Thursday, hitting $71.77. 1,113,741 shares of the company's stock were exchanged, compared to its average volume of 6,102,938. The firm has a market cap of $35.27 billion, a price-to-earnings ratio of 92.01, a P/E/G ratio of 3.11 and a beta of 1.41. The firm's 50-day moving average price is $62.79 and its two-hundred day moving average price is $87.72. The Trade Desk, Inc. has a fifty-two week low of $42.96 and a fifty-two week high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its quarterly earnings data 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. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. 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 company posted $0.26 earnings per share. Trade Desk's quarterly revenue was up 25.4% on a year-over-year basis. On average, research analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

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

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.