Oppenheimer Asset Management Inc. Buys 8,655 Shares of The Trade Desk (NASDAQ:TTD)

Oppenheimer Asset Management Inc. raised its holdings in The Trade Desk (NASDAQ:TTD - Free Report) by 5.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 168,119 shares of the technology company's stock after buying an additional 8,655 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Trade Desk were worth $9,199,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. LVZ Inc. lifted its stake in shares of Trade Desk by 149.3% in the 1st quarter. LVZ Inc. now owns 7,230 shares of the technology company's stock valued at $396,000 after acquiring an additional 4,330 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Trade Desk in the 1st quarter valued at about $710,000. Kentucky Retirement Systems acquired a new position in Trade Desk during the 1st quarter valued at about $1,668,000. World Equity Group Inc. lifted its position in shares of Trade Desk by 93.4% during the 1st quarter. World Equity Group Inc. now owns 12,161 shares of the technology company's stock worth $665,000 after buying an additional 5,873 shares in the last quarter. Finally, PFG Investments LLC lifted its position in shares of Trade Desk by 233.8% during the 1st quarter. PFG Investments LLC now owns 9,290 shares of the technology company's stock worth $508,000 after buying an additional 6,507 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company's stock.

Insider Transactions at Trade Desk

In related news, CEO Jeffrey Terry Green sold 26,684 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the completion of the transaction, the chief executive officer now owns 17,018 shares of the company's stock, valued at $1,361,950.54. This trade represents a 61.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David B. Wells sold 28,638 shares of the firm'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 now directly owns 66,985 shares of the company's stock, valued at approximately $5,350,761.80. This trade represents a 29.95% decrease in their position. The disclosure for this sale can be found here. Insiders own 9.72% of the company's stock.

Trade Desk Price Performance

Shares of Trade Desk stock opened at $68.87 on Tuesday. The stock has a market capitalization of $33.85 billion, a PE ratio of 83.99, a P/E/G ratio of 3.13 and a beta of 1.41. The Trade Desk has a 1-year low of $42.96 and a 1-year high of $141.53. The company's fifty day simple moving average is $65.95 and its 200-day simple moving average is $83.48.

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

Analyst Ratings Changes

TTD has been the topic of a number of analyst reports. DA Davidson lowered their target price on shares of Trade Desk from $103.00 to $92.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Macquarie upped their price target on shares of Trade Desk from $90.00 to $92.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Piper Sandler upped their price objective on shares of Trade Desk from $55.00 to $65.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Citigroup increased their price target on shares of Trade Desk from $63.00 to $82.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, Jefferies Financial Group set a $125.00 price objective on shares of Trade Desk and gave the stock a "buy" rating in a report on Tuesday, April 29th. Seven analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $97.15.

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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