Moors & Cabot Inc. Acquires 9,278 Shares of The Trade Desk (NASDAQ:TTD)

Moors & Cabot Inc. grew its holdings in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 175.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,556 shares of the technology company's stock after buying an additional 9,278 shares during the period. Moors & Cabot Inc.'s holdings in Trade Desk were worth $797,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of TTD. Investment Management Corp VA ADV acquired a new stake in shares of Trade Desk during the 4th quarter worth approximately $25,000. Park Square Financial Group LLC acquired a new stake in shares of Trade Desk during the 4th quarter worth approximately $47,000. BNP Paribas bought a new stake in shares of Trade Desk during the fourth quarter valued at approximately $50,000. Banque Cantonale Vaudoise bought a new stake in shares of Trade Desk during the first quarter valued at approximately $26,000. Finally, Banque Transatlantique SA bought a new stake in shares of Trade Desk during the fourth quarter valued at approximately $56,000. 67.77% of the stock is currently owned by institutional investors.

Trade Desk Trading Down 1.0%

TTD stock opened at $86.08 on Monday. The stock's fifty day simple moving average is $75.63 and its two-hundred day simple moving average is $74.12. The Trade Desk has a 1-year low of $42.96 and a 1-year high of $141.53. The stock has a market cap of $42.30 billion, a P/E ratio of 104.98, a P/E/G ratio of 3.91 and a beta of 1.37.

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

Insiders Place Their Bets

In other news, Director David B. Wells sold 28,638 shares of the company's stock in a transaction 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. This represents a 29.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 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. This represents a 61.06% decrease in their position. The disclosure for this sale can be found here. 10.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TTD shares. Stifel Nicolaus boosted their price objective on Trade Desk from $87.00 to $95.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Oppenheimer boosted their price objective on Trade Desk from $80.00 to $110.00 and gave the company an "outperform" rating in a report on Tuesday, July 29th. JMP Securities restated a "market outperform" rating and set a $100.00 price objective on shares of Trade Desk in a report on Tuesday, June 24th. Morgan Stanley boosted their price objective on Trade Desk from $60.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Finally, Jefferies Financial Group set a $125.00 price objective on Trade Desk and gave the company a "buy" rating in a report on Tuesday, April 29th. One equities 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target 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.

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