LPL Financial LLC Has $49.27 Million Stock Holdings 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 boosted its position in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 14.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 900,457 shares of the technology company's stock after purchasing an additional 115,332 shares during the quarter. LPL Financial LLC owned about 0.18% of Trade Desk worth $49,273,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

TTD has been the subject of a number of recent research reports. UBS Group reaffirmed a "buy" rating and set a $105.00 price target (up previously from $80.00) on shares of Trade Desk in a research report on Wednesday, July 16th. Guggenheim reduced their price target on Trade Desk from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Stifel Nicolaus upped their price target on Trade Desk from $87.00 to $95.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Morgan Stanley upped their price target on Trade Desk from $60.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, Citizens Jmp reduced their price target on Trade Desk from $115.00 to $100.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-six have assigned a buy rating to the company's stock. According to data from MarketBeat, Trade Desk has a consensus rating of "Moderate Buy" and a consensus target price of $100.09.

Trade Desk Stock Down 1.0%

Shares of TTD traded down $0.88 during trading hours on Friday, hitting $86.08. 9,973,566 shares of the company were exchanged, compared to its average volume of 14,718,176. The company has a market cap of $42.30 billion, a price-to-earnings ratio of 104.98, a P/E/G ratio of 3.95 and a beta of 1.36. The Trade Desk has a fifty-two week low of $42.96 and a fifty-two week high of $141.53. The firm's fifty day moving average is $75.63 and its 200 day moving average is $74.76.

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 (EPS) for the quarter, topping 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 quarterly revenue was up 25.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.26 EPS. Analysts anticipate that The Trade Desk will post 1.06 EPS for the current year.

Insider Buying and Selling at Trade Desk

In related news, CEO Jeffrey Terry Green sold 26,684 shares of the firm'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 sale, the chief executive officer directly owned 17,018 shares of the company's stock, valued at $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 SEC, which is available through this link. Also, Director David B. Wells sold 28,638 shares of the firm's stock in a transaction dated 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 directly owned 66,985 shares in the company, valued at $5,350,761.80. This trade represents a 29.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 10.00% of the company's stock.

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.