Kentucky Retirement Systems Insurance Trust Fund Buys Shares of 12,983 The Trade Desk (NASDAQ:TTD)

Kentucky Retirement Systems Insurance Trust Fund acquired a new position in The Trade Desk (NASDAQ:TTD - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 12,983 shares of the technology company's stock, valued at approximately $710,000.

Several other institutional investors and hedge funds have also bought and sold shares of TTD. Investment Management Corp VA ADV purchased a new stake in shares of Trade Desk in the 4th quarter worth about $25,000. Rialto Wealth Management LLC purchased a new stake in Trade Desk in the fourth quarter worth about $26,000. Zions Bancorporation N.A. increased its stake in shares of Trade Desk by 148.3% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock valued at $34,000 after purchasing an additional 175 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Trade Desk in the 1st quarter worth approximately $43,000. Finally, Park Square Financial Group LLC purchased a new stake in shares of Trade Desk in the 4th quarter worth approximately $47,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Trade Desk Price Performance

Shares of NASDAQ:TTD traded down $2.04 during trading on Wednesday, hitting $69.80. The company had a trading volume of 5,789,809 shares, compared to its average volume of 6,248,151. The stock has a market cap of $34.30 billion, a price-to-earnings ratio of 85.12, a price-to-earnings-growth ratio of 3.16 and a beta of 1.41. The company has a fifty day simple moving average of $66.40 and a two-hundred day simple moving average of $83.40. The Trade Desk has a one year low of $42.96 and a one year 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, topping 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 company had revenue of $616.02 million during the quarter, compared to the consensus estimate of $575.62 million. During the same period last year, the company earned $0.26 earnings per share. Trade Desk's revenue was up 25.4% on a year-over-year basis. On average, equities research analysts anticipate that The Trade Desk will post 1.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TTD. Cfra Research raised Trade Desk to a "moderate buy" rating in a report on Tuesday, March 25th. KeyCorp raised their price target on shares of Trade Desk from $67.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Citigroup boosted their price objective on shares of Trade Desk from $63.00 to $82.00 and gave the company a "buy" rating in a report on Friday, May 9th. JMP Securities restated a "market outperform" rating and set a $100.00 price objective on shares of Trade Desk in a research report on Tuesday. Finally, Wells Fargo & Company cut their target price on shares of Trade Desk from $101.00 to $72.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. Seven equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $97.15.

Insider Buying and Selling

In related news, Director David B. Wells sold 28,638 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the completion of the transaction, the director now owns 66,985 shares in the company, valued at $5,350,761.80. The trade was a 29.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey Terry Green sold 26,684 shares of Trade Desk 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 owns 17,018 shares of the company's stock, valued at approximately $1,361,950.54. This trade represents a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.72% of the stock is owned by corporate insiders.

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.