LVZ Inc. Acquires 4,330 Shares of The Trade Desk (NASDAQ:TTD)

LVZ Inc. grew its position in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 149.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,230 shares of the technology company's stock after acquiring an additional 4,330 shares during the quarter. LVZ Inc.'s holdings in Trade Desk were worth $396,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of TTD. Brighton Jones LLC boosted its holdings in shares of Trade Desk by 3.8% during the fourth quarter. Brighton Jones LLC now owns 4,586 shares of the technology company's stock valued at $539,000 after acquiring an additional 169 shares during the period. Kestra Investment Management LLC acquired a new stake in Trade Desk in the fourth quarter worth about $39,000. Concurrent Investment Advisors LLC lifted its holdings in Trade Desk by 6.5% in the fourth quarter. Concurrent Investment Advisors LLC now owns 9,819 shares of the technology company's stock worth $1,154,000 after purchasing an additional 597 shares during the period. ING Groep NV acquired a new stake in Trade Desk in the fourth quarter worth about $1,291,000. Finally, First Horizon Advisors Inc. lifted its holdings in Trade Desk by 21.4% in the fourth quarter. First Horizon Advisors Inc. now owns 3,051 shares of the technology company's stock worth $359,000 after purchasing an additional 537 shares during the period. Institutional investors and hedge funds own 67.77% of the company's stock.

Wall Street Analysts Forecast Growth

TTD has been the subject of several research analyst reports. Jefferies Financial Group set a $125.00 price objective on shares of Trade Desk and gave the stock a "buy" rating in a report on Tuesday, April 29th. JMP Securities reissued a "market outperform" rating and issued a $100.00 price target on shares of Trade Desk in a report on Tuesday. Rosenblatt Securities upped their price target on shares of Trade Desk from $77.00 to $78.00 and gave the company a "buy" rating in a report on Friday, June 6th. DA Davidson cut their price target on shares of Trade Desk from $103.00 to $92.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $84.00 price target on shares of Trade Desk in a report on Friday, June 6th. Seven investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company's stock. According to MarketBeat.com, Trade Desk currently has an average rating of "Moderate Buy" and a consensus target price of $97.15.

Insider Buying and Selling

In related news, 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 transaction of $2,287,603.44. Following the completion of the transaction, the director now directly owns 66,985 shares in the company, valued at $5,350,761.80. This represents a 29.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey Terry Green sold 26,684 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the transaction, the chief executive officer now owns 17,018 shares of the company's stock, valued at approximately $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. 9.74% of the stock is owned by insiders.

Trade Desk Price Performance

Shares of NASDAQ TTD traded down $2.04 during trading hours on Wednesday, hitting $69.80. 5,801,241 shares of the stock were exchanged, compared to its average volume of 6,262,771. The company's 50 day moving average is $66.83 and its 200 day moving average is $83.30. The firm has a market capitalization of $34.30 billion, a P/E ratio of 85.12, a P/E/G ratio of 3.30 and a beta of 1.41. 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 posted its quarterly earnings data 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 business had revenue of $616.02 million during the quarter, compared to the consensus estimate of $575.62 million. Trade Desk had a net margin of 16.04% and a return on equity of 15.41%. Trade Desk's quarterly revenue was up 25.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 EPS. Research analysts anticipate that The Trade Desk will post 1.06 earnings per share for the current fiscal year.

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.