Park Avenue Securities LLC Grows Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Park Avenue Securities LLC raised its holdings in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 40.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,641 shares of the technology company's stock after purchasing an additional 16,122 shares during the quarter. Park Avenue Securities LLC's holdings in Trade Desk were worth $3,045,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Investment Management Corp VA ADV acquired a new position in Trade Desk during the fourth quarter worth $25,000. Rialto Wealth Management LLC acquired a new position in Trade Desk in the 4th quarter valued at about $26,000. Midwest Capital Advisors LLC acquired a new position in Trade Desk in the 4th quarter valued at about $34,000. Zions Bancorporation N.A. increased its stake in Trade Desk by 148.3% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock worth $34,000 after purchasing an additional 175 shares during the period. Finally, Kestra Investment Management LLC acquired a new stake in shares of Trade Desk during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 67.77% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on TTD. Wedbush reaffirmed an "outperform" rating and set a $86.00 target price (up from $80.00) on shares of Trade Desk in a research note on Friday, May 9th. Cantor Fitzgerald cut their price objective on Trade Desk from $115.00 to $100.00 and set a "neutral" rating on the stock in a research report on Thursday, February 13th. Citizens Jmp reduced their price objective on Trade Desk from $115.00 to $100.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Piper Sandler boosted their target price on Trade Desk from $55.00 to $65.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Finally, KeyCorp increased their price target on Trade Desk from $67.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Seven 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, Trade Desk has a consensus rating of "Moderate Buy" and a consensus target price of $97.15.

Insider Activity at Trade Desk

In related news, Director David B. Wells sold 28,638 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total value of $2,287,603.44. Following the completion of the sale, the director now owns 66,985 shares in the company, valued at $5,350,761.80. This trade represents a 29.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey Terry Green sold 26,684 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $80.03, for a total value of $2,135,520.52. Following the transaction, the chief executive officer now owns 17,018 shares in the company, valued at $1,361,950.54. The trade was a 61.06% decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by insiders.

Trade Desk Price Performance

Shares of NASDAQ:TTD traded up $0.88 on Tuesday, reaching $72.37. The company's stock had a trading volume of 4,050,724 shares, compared to its average volume of 6,119,103. The Trade Desk, Inc. has a 52-week low of $42.96 and a 52-week high of $141.53. The stock has a market capitalization of $35.57 billion, a P/E ratio of 92.78, a PEG ratio of 3.11 and a beta of 1.41. The stock's 50-day moving average is $61.80 and its two-hundred day moving average is $87.93.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.26 by $0.07. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The firm had revenue of $616.02 million during the quarter, compared to the consensus estimate of $575.62 million. During the same period in the prior year, the business earned $0.26 EPS. The firm's revenue was up 25.4% compared to the same quarter last year. Equities analysts forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its board has approved a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in shares. This repurchase authorization allows the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

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.