Mackenzie Financial Corp Sells 9,458 Shares of The Trade Desk (NASDAQ:TTD)

Key Points

• Mackenzie Financial Corp has reduced its stake in The Trade Desk by 17%, selling 9,458 shares, thereby holding 46,190 shares valued at approximately $2.5 million at the end of the last quarter.
• Multiple hedge funds have increased their holdings in The Trade Desk, with GAMMA Investing LLC raising its stake by an impressive 3,876.8%, now owning almost 92,000 shares worth over $5 million.
• Analysts have set various price targets for The Trade Desk, with Morgan Stanley raising its target from $60 to $80, while the average price target is currently around $100.09.

Mackenzie Financial Corp lessened its stake in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 17.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,190 shares of the technology company's stock after selling 9,458 shares during the period. Mackenzie Financial Corp's holdings in Trade Desk were worth $2,528,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of TTD. GAMMA Investing LLC increased its holdings in shares of Trade Desk by 3,876.8% in the 1st quarter. GAMMA Investing LLC now owns 91,984 shares of the technology company's stock valued at $5,033,000 after purchasing an additional 89,671 shares during the period. Dynamic Advisor Solutions LLC acquired a new position in shares of Trade Desk in the 1st quarter valued at about $995,000. LBP AM SA increased its holdings in shares of Trade Desk by 116.1% in the 1st quarter. LBP AM SA now owns 64,154 shares of the technology company's stock valued at $3,511,000 after purchasing an additional 34,465 shares during the period. Bryce Point Capital LLC increased its holdings in shares of Trade Desk by 302.9% in the 1st quarter. Bryce Point Capital LLC now owns 16,727 shares of the technology company's stock valued at $915,000 after purchasing an additional 12,575 shares during the period. Finally, Peregrine Capital Management LLC increased its holdings in shares of Trade Desk by 40.2% in the 1st quarter. Peregrine Capital Management LLC now owns 579,877 shares of the technology company's stock valued at $31,731,000 after purchasing an additional 166,332 shares during the period. Institutional investors and hedge funds own 67.77% of the company's stock.

Trade Desk Trading Down 1.0%

Shares of NASDAQ:TTD traded down $0.88 during trading on Friday, hitting $86.08. 9,973,566 shares of the company's stock traded hands, compared to its average volume of 15,217,046. The Trade Desk has a 52 week low of $42.96 and a 52 week high of $141.53. The company has a market cap of $42.30 billion, a price-to-earnings ratio of 104.98, a price-to-earnings-growth ratio of 3.91 and a beta of 1.37. The company has a 50-day moving average price of $75.63 and a 200-day moving average price of $74.12.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its 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 firm had revenue of $616.02 million for the quarter, compared to analysts' expectations of $575.62 million. Trade Desk had a return on equity of 15.41% and a net margin of 16.04%. The business's quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.26 EPS. On average, 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 Trade Desk news, Director David B. Wells sold 28,638 shares of the business's stock in a transaction that occurred 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 transaction, the director owned 66,985 shares of the company's stock, valued at $5,350,761.80. The trade was 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 business's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 17,018 shares in the company, 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 owned by insiders.

Analyst Ratings Changes

TTD has been the topic of a number of research reports. Stifel Nicolaus increased their price objective on Trade Desk from $87.00 to $95.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Oppenheimer increased their price target on Trade Desk from $80.00 to $110.00 and gave the company an "outperform" rating in a report on Tuesday, July 29th. Wedbush reiterated an "outperform" rating and set a $86.00 price target on shares of Trade Desk in a report on Tuesday, July 15th. Rosenblatt Securities increased their price target on Trade Desk from $77.00 to $78.00 and gave the company a "buy" rating in a report on Friday, June 6th. Finally, Royal Bank Of Canada increased their price target on Trade Desk from $85.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat, Trade Desk has an average rating of "Moderate Buy" and a consensus target price of $100.09.

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.