Northwest & Ethical Investments L.P. Trims Stake in The Trade Desk $TTD

Northwest & Ethical Investments L.P. reduced its stake in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 28.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,697 shares of the technology company's stock after selling 13,054 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Trade Desk were worth $1,789,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TTD. Investment Management Corp VA ADV acquired a new stake in Trade Desk in the fourth quarter valued at approximately $25,000. Banque Cantonale Vaudoise acquired a new stake in Trade Desk in the first quarter valued at approximately $26,000. Cloud Capital Management LLC acquired a new stake in Trade Desk in the first quarter valued at approximately $27,000. von Borstel & Associates Inc. acquired a new stake in Trade Desk in the first quarter valued at approximately $31,000. Finally, Alpine Bank Wealth Management acquired a new stake in Trade Desk in the first quarter valued at approximately $35,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Trade Desk Stock Up 5.4%

NASDAQ:TTD opened at $54.95 on Tuesday. The Trade Desk has a 52 week low of $42.96 and a 52 week high of $141.53. The company has a market capitalization of $27.00 billion, a P/E ratio of 66.21, a P/E/G ratio of 2.67 and a beta of 1.37. The stock's fifty day moving average is $73.89 and its two-hundred day moving average is $69.89.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its earnings results on Thursday, August 7th. The technology company reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.24). The business had revenue of $694.04 million during the quarter, compared to analysts' expectations of $686.00 million. Trade Desk had a net margin of 15.57% and a return on equity of 15.19%. Trade Desk's revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 EPS. Sell-side analysts anticipate that The Trade Desk will post 1.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TTD. Rosenblatt Securities reissued a "buy" rating on shares of Trade Desk in a report on Friday, August 8th. JMP Securities reissued a "market outperform" rating and issued a $100.00 price objective on shares of Trade Desk in a report on Tuesday, June 24th. DA Davidson lowered their price target on Trade Desk from $103.00 to $92.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Royal Bank Of Canada reiterated an "outperform" rating and set a $90.00 price target (down from $100.00) on shares of Trade Desk in a research report on Friday, August 8th. Finally, Morgan Stanley boosted their price target on Trade Desk from $60.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-one have assigned a buy rating to the company's stock. According to MarketBeat.com, Trade Desk has a consensus rating of "Hold" and a consensus target price of $88.58.

Insider Activity

In related news, insider Jay R. Grant sold 51,290 shares of the business's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $91.18, for a total value of $4,676,622.20. Following the sale, the insider owned 218,246 shares in the company, valued at approximately $19,899,670.28. The trade was a 19.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 10.00% of the company's stock.

Trade Desk Company 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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