The Trade Desk (NASDAQ:TTD) Shares Acquired by Norden Group LLC

Key Points

• Norden Group LLC increased its holdings in The Trade Desk by 121.5% in Q1, owning 5,311 shares worth $291,000 by the quarter's end.
• Multiple institutional investors also boosted their positions, with Bryce Point Capital LLC increasing holdings by 302.9%, acquiring 16,727 shares valued at $915,000.
• The Trade Desk reported a 25.4% year-over-year increase in revenue for its latest quarter, totaling $616.02 million, and surpassed EPS expectations by $0.07.

Norden Group LLC lifted its stake in The Trade Desk (NASDAQ:TTD - Free Report) by 121.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,311 shares of the technology company's stock after buying an additional 2,913 shares during the quarter. Norden Group LLC's holdings in Trade Desk were worth $291,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Bryce Point Capital LLC increased its holdings in shares of Trade Desk by 302.9% in the first quarter. Bryce Point Capital LLC now owns 16,727 shares of the technology company's stock worth $915,000 after purchasing an additional 12,575 shares during the last quarter. TCW Group Inc. increased its holdings in shares of Trade Desk by 16.5% in the first quarter. TCW Group Inc. now owns 1,438,895 shares of the technology company's stock worth $78,736,000 after purchasing an additional 203,542 shares during the last quarter. Sterling Investment Advisors Ltd. increased its holdings in shares of Trade Desk by 3.2% in the first quarter. Sterling Investment Advisors Ltd. now owns 47,945 shares of the technology company's stock worth $2,624,000 after purchasing an additional 1,495 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Trade Desk by 14.7% in the first quarter. LPL Financial LLC now owns 900,457 shares of the technology company's stock worth $49,273,000 after purchasing an additional 115,332 shares during the last quarter. Finally, Inspire Advisors LLC bought a new stake in shares of Trade Desk in the first quarter worth about $513,000. 67.77% of the stock is owned by hedge funds and other institutional investors.

Trade Desk Trading Down 1.0%

Shares of NASDAQ TTD traded down $0.88 during trading hours on Friday, reaching $86.08. The stock had a trading volume of 9,973,566 shares, compared to its average volume of 14,718,176. The firm 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 business's fifty day moving average price is $75.63 and its two-hundred day moving average price is $74.76. 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 posted its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.07. The company had revenue of $616.02 million during 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 revenue was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.26 earnings per share. Equities research analysts anticipate that The Trade Desk will post 1.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TTD. Macquarie lifted their target price on Trade Desk from $90.00 to $92.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Arete Research upgraded Trade Desk to a "strong sell" rating in a research report on Monday. HSBC set a $75.00 price target on Trade Desk and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Piper Sandler lifted their price target on Trade Desk from $55.00 to $65.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $100.00 price target on shares of Trade Desk in a research report on Tuesday, June 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat, Trade Desk presently has a consensus rating of "Moderate Buy" and an average target price of $100.09.

Insiders Place Their Bets

In other Trade Desk news, CEO Jeffrey Terry Green sold 26,684 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the completion of the sale, the chief executive officer owned 17,018 shares in the company, valued at $1,361,950.54. This represents a 61.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $2,287,603.44. Following the sale, the director owned 66,985 shares of the company's stock, valued at approximately $5,350,761.80. This represents a 29.95% decrease in their position. The disclosure for this sale can be found here. 10.00% of the stock is owned by corporate insiders.

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.