Jupiter Asset Management Ltd. Makes New Investment in The Trade Desk (NASDAQ:TTD)

Jupiter Asset Management Ltd. acquired a new position in shares of The Trade Desk (NASDAQ:TTD - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 134,291 shares of the technology company's stock, valued at approximately $7,348,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV purchased a new position in Trade Desk during the 4th quarter worth approximately $25,000. Banque Cantonale Vaudoise purchased a new position in shares of Trade Desk during the 1st quarter valued at $26,000. Cloud Capital Management LLC purchased a new position in shares of Trade Desk during the 1st quarter valued at $27,000. von Borstel & Associates Inc. purchased a new position in shares of Trade Desk during the 1st quarter valued at $31,000. Finally, Alpine Bank Wealth Management purchased a new position in shares of Trade Desk during the 1st quarter valued at $35,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Jeffrey Terry Green sold 26,684 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $80.03, for a total value of $2,135,520.52. Following the completion of the sale, the chief executive officer owned 17,018 shares in the company, valued at approximately $1,361,950.54. This trade represents a 61.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David B. Wells sold 28,638 shares of the stock in a transaction dated 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 completion of the sale, the director owned 66,985 shares of the company's stock, valued at approximately $5,350,761.80. The trade was a 29.95% decrease in their position. The disclosure for this sale can be found here. 10.00% of the stock is currently owned by company insiders.

Trade Desk Stock Performance

NASDAQ TTD opened at $86.08 on Monday. The firm has a 50-day simple moving average of $75.63 and a 200 day simple moving average of $74.12. The Trade Desk has a twelve month low of $42.96 and a twelve month high of $141.53. The stock has a market cap of $42.30 billion, a PE ratio of 104.98, a PEG ratio of 3.91 and a beta of 1.37.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on TTD shares. Citizens Jmp lowered their price target on shares of Trade Desk from $115.00 to $100.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Macquarie boosted their price target on shares of Trade Desk from $90.00 to $92.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Wells Fargo & Company cut shares of Trade Desk from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $74.00 to $68.00 in a report on Thursday, June 26th. Guggenheim lowered their price target on shares of Trade Desk from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, HSBC set a $75.00 price target on shares of Trade Desk and gave the company a "buy" rating in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $100.09.

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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