The Trade Desk (NASDAQ:TTD) Shares Sold by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group Inc. reduced its stake in The Trade Desk by 63.9% in the first quarter, selling 31,748 shares, bringing its total ownership to 17,944 shares valued at approximately $982,000.
• A range of analysts have increased their price targets for The Trade Desk, with Morgan Stanley raising theirs from $60.00 to $80.00 and Oppenheimer from $80.00 to $110.00, reflecting a consensus of a "Moderate Buy."
• The Trade Desk reported earnings of $0.33 EPS for the quarter, exceeding estimates and showcasing a revenue increase of 25.4% year-over-year, totaling $616.02 million.

Jefferies Financial Group Inc. lessened its position in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 63.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,944 shares of the technology company's stock after selling 31,748 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Trade Desk were worth $982,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of Jackson Hole Trust boosted its stake in shares of Trade Desk by 32.3% in the first quarter. Bank of Jackson Hole Trust now owns 3,302 shares of the technology company's stock valued at $181,000 after buying an additional 807 shares in the last quarter. Alberta Investment Management Corp purchased a new stake in shares of Trade Desk in the first quarter valued at approximately $2,610,000. US Bancorp DE boosted its stake in shares of Trade Desk by 12.2% in the first quarter. US Bancorp DE now owns 1,105,744 shares of the technology company's stock valued at $60,506,000 after buying an additional 119,961 shares in the last quarter. EFG Asset Management Americas Corp. raised its holdings in Trade Desk by 2.7% during the first quarter. EFG Asset Management Americas Corp. now owns 32,560 shares of the technology company's stock worth $1,782,000 after purchasing an additional 866 shares during the last quarter. Finally, NorthRock Partners LLC raised its holdings in Trade Desk by 7.6% during the first quarter. NorthRock Partners LLC now owns 4,224 shares of the technology company's stock worth $231,000 after purchasing an additional 297 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company's stock.

Trade Desk Stock Down 2.3%

Shares of NASDAQ TTD traded down $2.06 on Tuesday, hitting $87.70. The company had a trading volume of 8,522,929 shares, compared to its average volume of 15,379,437. The Trade Desk has a 12-month low of $42.96 and a 12-month high of $141.53. The business has a 50 day moving average of $76.18 and a two-hundred day moving average of $73.98. The firm has a market capitalization of $43.10 billion, a P/E ratio of 106.95, a PEG ratio of 4.08 and a beta of 1.37.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. Trade Desk had a return on equity of 15.41% and a net margin of 16.04%. The company had revenue of $616.02 million during the quarter, compared to the consensus estimate of $575.62 million. During the same quarter in the prior year, the business earned $0.26 earnings per share. The company's revenue was up 25.4% compared to the same quarter last year. On average, sell-side analysts anticipate that The Trade Desk will post 1.06 earnings per share for the current year.

Insider Activity

In related news, CEO Jeffrey Terry Green sold 26,684 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer owned 17,018 shares in the company, valued at approximately $1,361,950.54. The trade was a 61.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David B. Wells sold 28,638 shares of the business's stock in a transaction dated 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 completion of the transaction, the director owned 66,985 shares in the company, valued at approximately $5,350,761.80. This trade represents a 29.95% decrease in their position. The disclosure for this sale can be found here. Insiders own 10.00% of the company's stock.

Analyst Upgrades and Downgrades

TTD has been the subject of several research reports. Stifel Nicolaus lifted their price objective on Trade Desk from $87.00 to $95.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. 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. Guggenheim cut their price target on Trade Desk from $110.00 to $90.00 and set a "buy" rating for the company in a report on Friday, May 9th. JMP Securities reissued a "market outperform" rating and issued a $100.00 price target on shares of Trade Desk in a report on Tuesday, June 24th. Finally, Morgan Stanley boosted their price target on Trade Desk from $60.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat, Trade Desk has a consensus rating of "Moderate Buy" and an average price target of $98.73.

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.