The Trade Desk (NASDAQ:TTD) Shares Purchased by Kirtland Hills Capital Management LLC

Key Points

• Kirtland Hills Capital Management LLC increased its stake in The Trade Desk by 28.7%, owning a total of 14,777 shares valued at approximately $743,000.
• A significant insider transaction occurred as Director David B. Wells sold 28,638 shares, reducing his holding by 29.95%, and CEO Jeffrey Terry Green sold 26,684 shares, a decrease of 61.06% in his ownership.
• Several analysts upgraded their ratings for Trade Desk, with Evercore ISI changing its rating from "in-line" to "outperform" and setting a target price of $90.00.

Kirtland Hills Capital Management LLC increased its position in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 28.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,777 shares of the technology company's stock after buying an additional 3,298 shares during the period. Kirtland Hills Capital Management LLC's holdings in Trade Desk were worth $743,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV purchased a new stake in Trade Desk during the 4th quarter valued at about $25,000. Cloud Capital Management LLC acquired a new position in shares of Trade Desk during the 1st quarter worth approximately $27,000. von Borstel & Associates Inc. purchased a new stake in shares of Trade Desk in the first quarter valued at approximately $31,000. Alpine Bank Wealth Management acquired a new stake in shares of Trade Desk in the first quarter valued at approximately $35,000. Finally, Pinnacle Bancorp Inc. lifted its position in Trade Desk by 143.5% during the first quarter. Pinnacle Bancorp Inc. now owns 728 shares of the technology company's stock worth $40,000 after buying an additional 429 shares in the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Trade Desk Price Performance

Shares of TTD stock traded up $1.89 during trading hours on Wednesday, reaching $86.42. 6,005,236 shares of the stock were exchanged, compared to its average volume of 10,137,955. The firm has a market capitalization of $42.47 billion, a P/E ratio of 105.39, a P/E/G ratio of 4.02 and a beta of 1.36. The Trade Desk has a 12-month low of $42.96 and a 12-month high of $141.53. The business's fifty day moving average is $74.89 and its two-hundred day moving average is $75.11.

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

Insider Activity at Trade Desk

In other news, Director David B. Wells sold 28,638 shares of the stock in a transaction that occurred on 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 sale, the director directly owned 66,985 shares of the company's stock, valued at approximately $5,350,761.80. This represents a 29.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey Terry Green sold 26,684 shares of the stock in a transaction that occurred on 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 directly owned 17,018 shares of the company's stock, 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 corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Macquarie upped their target price on Trade Desk from $90.00 to $92.00 and gave the company an "outperform" rating in a report on Monday, May 19th. KeyCorp upped their price objective on shares of Trade Desk from $80.00 to $95.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Stifel Nicolaus lifted their target price on shares of Trade Desk from $87.00 to $95.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Wells Fargo & Company cut shares of Trade Desk from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $74.00 to $68.00 in a research note on Thursday, June 26th. Finally, Citizens Jmp reduced their price target on shares of Trade Desk from $115.00 to $100.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Eight research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $99.64.

Trade Desk 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.