Janney Montgomery Scott LLC Sells 80,667 Shares of The Trade Desk (NASDAQ:TTD)

Janney Montgomery Scott LLC cut its position in The Trade Desk (NASDAQ:TTD - Free Report) by 45.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 95,876 shares of the technology company's stock after selling 80,667 shares during the quarter. Janney Montgomery Scott LLC's holdings in Trade Desk were worth $5,246,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Aries Wealth Management increased its holdings in Trade Desk by 17.5% in the first quarter. Aries Wealth Management now owns 4,700 shares of the technology company's stock worth $257,000 after purchasing an additional 700 shares in the last quarter. Dynamic Advisor Solutions LLC bought a new stake in Trade Desk in the first quarter worth approximately $995,000. Dover Advisors LLC bought a new stake in Trade Desk in the first quarter worth approximately $378,000. Jackson Square Capital LLC increased its holdings in Trade Desk by 19.1% in the first quarter. Jackson Square Capital LLC now owns 8,779 shares of the technology company's stock worth $480,000 after purchasing an additional 1,406 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV increased its holdings in Trade Desk by 1.7% in the first quarter. Azzad Asset Management Inc. ADV now owns 56,085 shares of the technology company's stock worth $3,069,000 after purchasing an additional 932 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors.

Trade Desk Trading Down 0.6%

Shares of Trade Desk stock opened at $68.23 on Monday. The business's fifty day simple moving average is $65.54 and its 200 day simple moving average is $83.97. The firm has a market capitalization of $33.53 billion, a P/E ratio of 83.21, a price-to-earnings-growth ratio of 3.13 and a beta of 1.41. 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 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.07. The business had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. Trade Desk had a return on equity of 15.41% and a net margin of 16.04%. Trade Desk's quarterly revenue was up 25.4% compared to the same quarter last year. During the same period last year, the company posted $0.26 earnings per share. Analysts predict that The Trade Desk will post 1.06 EPS for the current fiscal year.

Insider Buying and Selling

In other Trade Desk news, CEO Jeffrey Terry Green sold 26,684 shares of the business's stock in a transaction 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 directly owns 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David B. Wells sold 28,638 shares of the business's stock in a transaction on 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 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. 9.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TTD shares. DA Davidson lowered their target price on Trade Desk from $103.00 to $92.00 and set a "buy" rating for the company in a report on Friday, May 9th. Royal Bank Of Canada reduced their price objective on Trade Desk from $100.00 to $85.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. HSBC set a $75.00 price objective on Trade Desk and gave the company a "buy" rating in a research note on Wednesday, April 23rd. JMP Securities reduced their price objective on Trade Desk from $115.00 to $100.00 and set a "market outperform" rating for the company in a research note on Friday, May 9th. Finally, Wedbush reissued an "outperform" rating and issued a $86.00 price objective (up previously from $80.00) on shares of Trade Desk in a research note 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. Based on data from MarketBeat.com, Trade Desk currently has a consensus rating of "Moderate Buy" and an average target price of $97.15.

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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