Institute for Wealth Management LLC. Boosts Stock Position in The Trade Desk (NASDAQ:TTD)

Institute for Wealth Management LLC. lifted its position in The Trade Desk (NASDAQ:TTD - Free Report) by 41.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,130 shares of the technology company's stock after purchasing an additional 5,007 shares during the quarter. Institute for Wealth Management LLC.'s holdings in Trade Desk were worth $937,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Centurion Wealth Management LLC lifted its position in Trade Desk by 2.6% during the fourth quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company's stock valued at $443,000 after purchasing an additional 96 shares during the period. Lane & Associates LLC lifted its holdings in shares of Trade Desk by 2.6% in the 4th quarter. Lane & Associates LLC now owns 4,256 shares of the technology company's stock valued at $505,000 after buying an additional 108 shares during the period. Venturi Wealth Management LLC lifted its holdings in shares of Trade Desk by 2.3% in the 4th quarter. Venturi Wealth Management LLC now owns 4,871 shares of the technology company's stock valued at $572,000 after buying an additional 108 shares during the period. Great Lakes Advisors LLC boosted its stake in shares of Trade Desk by 1.7% in the fourth quarter. Great Lakes Advisors LLC now owns 6,951 shares of the technology company's stock worth $817,000 after buying an additional 116 shares during the last quarter. Finally, Douglass Winthrop Advisors LLC boosted its stake in shares of Trade Desk by 2.7% in the fourth quarter. Douglass Winthrop Advisors LLC now owns 4,464 shares of the technology company's stock worth $525,000 after buying an additional 117 shares during the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. UBS Group decreased their price target on Trade Desk from $116.00 to $80.00 and set a "buy" rating for the company in a report on Friday, April 11th. Jefferies Financial Group set a $125.00 target price on shares of Trade Desk and gave the company a "buy" rating in a report on Tuesday, April 29th. Royal Bank Of Canada lowered their price target on shares of Trade Desk from $100.00 to $85.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Oppenheimer raised their price target on shares of Trade Desk from $75.00 to $80.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $86.00 price objective (up previously from $80.00) on shares of Trade Desk in a report on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $97.15.

Insider Transactions at Trade Desk

In related news, CEO Jeffrey Terry Green sold 26,684 shares of the 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 now directly owns 66,985 shares of the company's stock, valued at approximately $5,350,761.80. This represents a 29.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.74% of the company's stock.

Trade Desk Price Performance

Shares of NASDAQ TTD opened at $68.66 on Friday. The company has a 50 day simple moving average of $65.18 and a 200-day simple moving average of $85.20. The company has a market capitalization of $33.74 billion, a P/E ratio of 83.73, a P/E/G ratio of 3.15 and a beta of 1.41. The Trade Desk has a 1 year low of $42.96 and a 1 year 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 during 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 period in the prior year, the business posted $0.26 EPS. As a group, research analysts expect that The Trade Desk will post 1.06 EPS for the current year.

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.

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