Ithaka Group LLC Has $5.64 Million Stock Holdings in The Trade Desk (NASDAQ:TTD)

Key Points

• Ithaka Group LLC reduced its stake in The Trade Desk by 4.5%, owning 103,077 shares valued at approximately $5.64 million, making it the 29th largest position in its portfolio.
• Trade Desk reported $0.33 EPS for the last quarter, exceeding analyst estimates, with revenue of $616.02 million, a year-over-year increase of 25.4%.
• Analysts generally maintain a positive outlook on Trade Desk, with a consensus price target of $98.73 and a majority rating of "Moderate Buy".

Ithaka Group LLC trimmed its stake in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 4.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 103,077 shares of the technology company's stock after selling 4,817 shares during the quarter. Trade Desk comprises 1.1% of Ithaka Group LLC's investment portfolio, making the stock its 29th biggest holding. Ithaka Group LLC's holdings in Trade Desk were worth $5,640,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Investment Management Corp VA ADV acquired a new stake in shares of Trade Desk in the 4th quarter valued at approximately $25,000. Park Square Financial Group LLC purchased a new position in Trade Desk in the 4th quarter valued at approximately $47,000. BNP Paribas purchased a new position in Trade Desk in the 4th quarter valued at approximately $50,000. Banque Cantonale Vaudoise purchased a new position in Trade Desk in the 1st quarter valued at approximately $26,000. Finally, Banque Transatlantique SA purchased a new position in Trade Desk in the 4th quarter valued at approximately $56,000. 67.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Wells Fargo & Company downgraded Trade Desk from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $74.00 to $68.00 in a research note on Thursday, June 26th. Stifel Nicolaus raised their price objective on Trade Desk from $87.00 to $95.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Citizens Jmp dropped their price target on Trade Desk from $115.00 to $100.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Royal Bank Of Canada boosted their price target on Trade Desk from $85.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, KeyCorp boosted their price target on Trade Desk from $80.00 to $95.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $98.73.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, Director David B. Wells sold 28,638 shares of the stock in a transaction 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 transaction, the director directly owned 66,985 shares of the company's stock, valued at $5,350,761.80. This represents a 29.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey Terry Green sold 26,684 shares of the stock in a transaction on 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 directly owned 17,018 shares in the company, valued at $1,361,950.54. The trade was a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.00% of the stock is currently owned by company insiders.

Trade Desk Stock Down 2.3%

NASDAQ TTD traded down $2.06 on Tuesday, reaching $87.70. 8,522,929 shares of the stock traded hands, compared to its average volume of 15,379,437. The firm's fifty day simple moving average is $76.18 and its 200 day simple moving average is $73.98. The company has a market cap of $43.10 billion, a price-to-earnings ratio of 106.95, a P/E/G ratio of 4.08 and a beta of 1.37. The Trade Desk has a 12 month low of $42.96 and a 12 month high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. Trade Desk had a return on equity of 15.41% and a net margin of 16.04%. The firm had revenue of $616.02 million during the quarter, compared to analyst estimates of $575.62 million. During the same period last year, the company posted $0.26 EPS. The firm's quarterly revenue was up 25.4% on a year-over-year basis. As a group, equities research analysts forecast that The Trade Desk will post 1.06 EPS for the current fiscal 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.