Nuveen LLC Buys Shares of 3,507,593 The Trade Desk (NASDAQ:TTD)

Key Points

• Nuveen LLC invested approximately $191.94 million in The Trade Desk, acquiring 3,507,593 shares during the first quarter.
• The company's recent quarterly earnings showed a net margin of 15.57% but reported earnings per share (EPS) of $0.18, which missed analysts' expectations by $0.24.
• Trade Desk's shares have been subject to various analyst rating changes, with Morgan Stanley raising its price target to $80 and BTIG Research downgrading the stock from "buy" to "neutral."

Nuveen LLC acquired a new stake in The Trade Desk (NASDAQ:TTD - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,507,593 shares of the technology company's stock, valued at approximately $191,935,000. Nuveen LLC owned 0.71% of Trade Desk at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Investment Management Corp VA ADV bought a new position in shares of Trade Desk during the fourth quarter valued at approximately $25,000. Banque Cantonale Vaudoise purchased a new stake in Trade Desk during the first quarter worth $26,000. Cloud Capital Management LLC bought a new stake in Trade Desk during the 1st quarter valued at $27,000. von Borstel & Associates Inc. purchased a new position in shares of Trade Desk in the 1st quarter valued at $31,000. Finally, Alpine Bank Wealth Management bought a new position in shares of Trade Desk in the 1st quarter worth $35,000. 67.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Trade Desk

In related news, insider Jay R. Grant sold 51,290 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $91.18, for a total value of $4,676,622.20. Following the completion of the sale, the insider owned 218,246 shares of the company's stock, valued at approximately $19,899,670.28. This represents a 19.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 10.00% of the company's stock.

Trade Desk Price Performance

NASDAQ TTD traded up $0.10 during trading hours on Tuesday, hitting $53.27. 24,980,018 shares of the company's stock traded hands, compared to its average volume of 22,969,036. The company has a market capitalization of $26.18 billion, a PE ratio of 64.18, a PEG ratio of 2.74 and a beta of 1.37. The firm's 50-day moving average is $75.45 and its 200-day moving average is $72.10. 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 announced its quarterly earnings data 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 company had revenue of $694.04 million for the quarter, compared to analysts' expectations of $686.00 million. Trade Desk had a return on equity of 15.19% and a net margin of 15.57%. The business's quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 EPS. Equities research analysts predict that The Trade Desk will post 1.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TTD. Royal Bank Of Canada lowered their price target on shares of Trade Desk from $100.00 to $90.00 and set an "outperform" rating on the stock in a report on Friday. Macquarie upped their target price on Trade Desk from $90.00 to $92.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Wells Fargo & Company lowered shares of Trade Desk from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $74.00 to $68.00 in a research report on Thursday, June 26th. Hsbc Global Res cut shares of Trade Desk from a "strong-buy" rating to a "hold" rating in a research note on Monday. Finally, JMP Securities reiterated a "market outperform" rating and issued a $100.00 price objective on shares of Trade Desk in a research note on Tuesday, June 24th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $89.33.

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.