Invesco Ltd. Has $151.47 Million Stock Holdings in The Trade Desk (NASDAQ:TTD)

Invesco Ltd. reduced its position in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 65.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,768,110 shares of the technology company's stock after selling 5,148,822 shares during the quarter. Invesco Ltd. owned about 0.56% of Trade Desk worth $151,471,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in TTD. Investment Management Corp VA ADV acquired a new position in Trade Desk during the 4th quarter worth approximately $25,000. Banque Cantonale Vaudoise purchased a new stake in shares of Trade Desk in the first quarter worth approximately $26,000. Cloud Capital Management LLC purchased a new stake in shares of Trade Desk in the first quarter worth approximately $27,000. von Borstel & Associates Inc. purchased a new stake in shares of Trade Desk in the first quarter worth approximately $31,000. Finally, Alpine Bank Wealth Management purchased a new stake in shares of Trade Desk in the first quarter worth approximately $35,000. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Stock Performance

NASDAQ:TTD opened at $50.76 on Friday. The firm has a market capitalization of $24.95 billion, a price-to-earnings ratio of 61.16, a P/E/G ratio of 2.78 and a beta of 1.37. The Trade Desk has a 52-week low of $42.96 and a 52-week high of $141.53. The stock has a fifty day moving average of $74.61 and a 200 day moving average of $71.51.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.24). The business had revenue of $694.04 million for the quarter, compared to the consensus estimate of $686.00 million. Trade Desk had a net margin of 15.57% and a return on equity of 15.19%. Trade Desk's quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.39 EPS. Equities analysts forecast that The Trade Desk will post 1.06 earnings per share for the current fiscal year.

Insider Transactions at Trade Desk

In related news, insider Jay R. Grant sold 51,290 shares of Trade Desk stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $91.18, for a total transaction of $4,676,622.20. Following the completion of the sale, the insider owned 218,246 shares of the company's stock, valued at approximately $19,899,670.28. This trade represents a 19.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 10.00% of the company's stock.

Analyst Ratings Changes

TTD has been the subject of several recent analyst reports. JMP Securities reaffirmed a "market outperform" rating and issued a $100.00 target price on shares of Trade Desk in a report on Tuesday, June 24th. Wells Fargo & Company lowered Trade Desk from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $74.00 to $68.00 in a report on Thursday, June 26th. BMO Capital Markets set a $98.00 target price on Trade Desk and gave the company an "outperform" rating in a report on Friday, August 8th. Wedbush reaffirmed an "outperform" rating and issued a $86.00 target price on shares of Trade Desk in a report on Tuesday, July 15th. Finally, Truist Financial upped their target price on Trade Desk from $95.00 to $100.00 and gave the company a "buy" rating in a report on Friday, May 9th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $89.33.

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.

Want to see what other hedge funds are holding TTD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Trade Desk (NASDAQ:TTD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.