25,774 Shares in The Trade Desk (NASDAQ:TTD) Bought by Neo Ivy Capital Management

Key Points

• Neo Ivy Capital Management acquired 25,774 shares of The Trade Desk, valued at approximately $1.41 million, indicating strong interest from institutional investors, which collectively hold 67.77% of the stock.
• Trade Desk's stock rose by 1.3% to reach $86.14, with the company reporting a net margin of 16.04% and a quarterly revenue of $616.02 million, exceeding analysts' expectations.
• Research analysts have mixed outlooks on Trade Desk, with ratings varying from "equal weight" to "outperform," and a consensus target price of $98.73, suggesting potential for growth.

Neo Ivy Capital Management bought a new stake in shares of The Trade Desk (NASDAQ:TTD - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 25,774 shares of the technology company's stock, valued at approximately $1,410,000.

Other hedge funds have also modified their holdings of the company. Investment Management Corp VA ADV purchased a new stake in shares of Trade Desk in the fourth quarter valued at $25,000. Zions Bancorporation N.A. raised its stake in shares of Trade Desk by 148.3% in the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock valued at $34,000 after acquiring an additional 175 shares during the period. Park Square Financial Group LLC bought a new position in shares of Trade Desk in the fourth quarter worth about $47,000. BNP Paribas bought a new position in shares of Trade Desk in the fourth quarter worth about $50,000. Finally, Banque Transatlantique SA bought a new position in shares of Trade Desk in the fourth quarter worth about $56,000. 67.77% of the stock is currently owned by institutional investors.

Trade Desk Stock Up 1.3%

NASDAQ:TTD traded up $1.14 on Friday, reaching $86.14. 6,028,690 shares of the company's stock were exchanged, compared to its average volume of 14,512,962. The firm has a market capitalization of $42.33 billion, a price-to-earnings ratio of 105.05, a price-to-earnings-growth ratio of 3.86 and a beta of 1.36. The business has a fifty day moving average of $74.30 and a 200-day moving average of $76.13. The Trade Desk has a 52-week low of $42.96 and a 52-week high of $141.53.

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

Insider Buying and Selling

In related news, Director David B. Wells sold 28,638 shares of the company'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 value of $2,287,603.44. Following the completion of the transaction, the director directly owned 66,985 shares of the company's stock, valued at $5,350,761.80. This represents a 29.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey Terry Green sold 26,684 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 17,018 shares of the company's stock, 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. 9.74% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wells Fargo & Company cut shares of Trade Desk from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $74.00 to $68.00 in a report on Thursday, June 26th. Evercore ISI upgraded shares of Trade Desk from an "in-line" rating to an "outperform" rating and set a $90.00 target price on the stock in a report on Friday, June 27th. Citizens Jmp lowered their price target on shares of Trade Desk from $115.00 to $100.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Morgan Stanley raised their price target on shares of Trade Desk from $60.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Finally, Guggenheim lowered their price target on shares of Trade Desk from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Eight investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $98.73.

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.