The Trade Desk (NASDAQ:TTD) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. grew its stake in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 14.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 92,519 shares of the technology company's stock after acquiring an additional 11,589 shares during the period. PNC Financial Services Group Inc.'s holdings in Trade Desk were worth $5,063,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of TTD. Jupiter Asset Management Ltd. bought a new position in shares of Trade Desk in the first quarter worth $7,348,000. Kazazian Asset Management LLC purchased a new stake in shares of Trade Desk in the first quarter worth about $348,000. Blueshift Asset Management LLC bought a new position in Trade Desk in the 1st quarter valued at $316,000. Strategic Advocates LLC increased its stake in Trade Desk by 41.3% in the 1st quarter. Strategic Advocates LLC now owns 17,194 shares of the technology company's stock worth $941,000 after acquiring an additional 5,027 shares during the last quarter. Finally, Moors & Cabot Inc. increased its holdings in shares of Trade Desk by 175.8% in the 1st quarter. Moors & Cabot Inc. now owns 14,556 shares of the technology company's stock worth $797,000 after buying an additional 9,278 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company's stock.

Insider Buying and Selling

In other news, 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 completion of the sale, the chief executive officer directly owned 17,018 shares in the company, valued at approximately $1,361,950.54. The trade was a 61.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David B. Wells sold 28,638 shares of the company's stock in a transaction that occurred on 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 sale, the director directly owned 66,985 shares in the company, valued at approximately $5,350,761.80. This represents a 29.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Citigroup restated a "neutral" rating and issued a $65.00 price objective (down from $90.00) on shares of Trade Desk in a report on Friday. Jefferies Financial Group set a $125.00 target price on shares of Trade Desk and gave the stock a "buy" rating in a research note on Tuesday, April 29th. HSBC set a $75.00 target price on shares of Trade Desk and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Moffett Nathanson downgraded Trade Desk from a "neutral" rating to a "sell" rating and set a $45.00 target price on the stock. in a report on Friday. Finally, Wedbush reiterated an "outperform" rating and set a $86.00 target price on shares of Trade Desk in a research report on Tuesday, July 15th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $92.18.

Trade Desk Price Performance

NASDAQ TTD traded down $34.10 during trading hours on Friday, hitting $54.23. The company had a trading volume of 105,069,220 shares, compared to its average volume of 10,798,348. The firm's 50 day moving average is $76.70 and its 200 day moving average is $73.84. The Trade Desk has a fifty-two week low of $42.96 and a fifty-two week high of $141.53. The company has a market capitalization of $26.65 billion, a price-to-earnings ratio of 66.13, a P/E/G ratio of 4.07 and a beta of 1.37.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its earnings results on Thursday, August 7th. The technology company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). The firm had revenue of $694.04 million during the quarter, compared to analysts' expectations of $686.00 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 18.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.39 earnings per share. On average, equities analysts anticipate that The Trade Desk will post 1.06 EPS for the current year.

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.