LPL Financial LLC Grows Stock Position in The Trade Desk (NASDAQ:TTD)

Key Points

• LPL Financial LLC increased its stake in The Trade Desk by 14.7%, owning approximately $49.27 million worth of shares after purchasing an additional 115,332 shares during the first quarter.
• CEO Jeffrey Terry Green and Director David B. Wells sold significant shares of the company, reducing their ownership by 61.06% and 29.95% respectively.
• Analysts have mixed ratings for The Trade Desk, with recent price targets ranging from $68.00 to $105.00, and a consensus rating of "Moderate Buy."

LPL Financial LLC grew its stake in The Trade Desk (NASDAQ:TTD - Free Report) by 14.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 900,457 shares of the technology company's stock after buying an additional 115,332 shares during the quarter. LPL Financial LLC owned 0.18% of Trade Desk worth $49,273,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Anchor Investment Management LLC lifted its position in shares of Trade Desk by 17.2% during the 4th quarter. Anchor Investment Management LLC now owns 1,020 shares of the technology company's stock worth $120,000 after buying an additional 150 shares during the last quarter. Brighton Jones LLC boosted its holdings in shares of Trade Desk by 3.8% in the 4th quarter. Brighton Jones LLC now owns 4,586 shares of the technology company's stock valued at $539,000 after buying an additional 169 shares in the last quarter. Peterson Wealth Services boosted its holdings in shares of Trade Desk by 2.2% in the 1st quarter. Peterson Wealth Services now owns 8,992 shares of the technology company's stock valued at $492,000 after buying an additional 190 shares in the last quarter. Huntington National Bank boosted its holdings in shares of Trade Desk by 11.2% in the 4th quarter. Huntington National Bank now owns 1,923 shares of the technology company's stock valued at $226,000 after buying an additional 194 shares in the last quarter. Finally, Prosperity Consulting Group LLC boosted its holdings in shares of Trade Desk by 2.6% in the 4th quarter. Prosperity Consulting Group LLC now owns 7,834 shares of the technology company's stock valued at $921,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company's stock.

Trade Desk Price Performance

Trade Desk stock traded up $3.35 during trading hours on Monday, hitting $89.43. The stock had a trading volume of 4,977,119 shares, compared to its average volume of 10,081,458. The stock has a market capitalization of $43.95 billion, a price-to-earnings ratio of 108.97, a PEG ratio of 3.91 and a beta of 1.37. The Trade Desk has a 1-year low of $42.96 and a 1-year high of $141.53. The stock's fifty day moving average is $75.63 and its two-hundred day moving average is $74.12.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted 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. The company 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 revenue was up 25.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.26 earnings per share. As a group, sell-side analysts anticipate that The Trade Desk will post 1.06 EPS for the current year.

Insider Buying and Selling at Trade Desk

In other news, CEO Jeffrey Terry Green sold 26,684 shares of the company'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 directly owned 17,018 shares in the company, valued at $1,361,950.54. This represents a 61.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David B. Wells sold 28,638 shares of the company'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 owned 66,985 shares in the company, valued at $5,350,761.80. This represents a 29.95% 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.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Guggenheim reduced their price objective on Trade Desk from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Macquarie boosted their price objective on Trade Desk from $90.00 to $92.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Rosenblatt Securities boosted their price objective on Trade Desk from $77.00 to $78.00 and gave the company a "buy" rating in a research note on Friday, June 6th. DA Davidson reduced their price objective on Trade Desk from $103.00 to $92.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Finally, KeyCorp boosted their price objective on Trade Desk from $80.00 to $95.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.