Prosperity Wealth Management Inc. Acquires 8,145 Shares of The Trade Desk (NASDAQ:TTD)

Prosperity Wealth Management Inc. grew its holdings in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 199.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,235 shares of the technology company's stock after acquiring an additional 8,145 shares during the quarter. Prosperity Wealth Management Inc.'s holdings in Trade Desk were worth $669,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Investment Management Corp VA ADV bought a new stake in Trade Desk in the 4th quarter worth approximately $25,000. Rialto Wealth Management LLC bought a new stake in Trade Desk in the 4th quarter worth approximately $26,000. Midwest Capital Advisors LLC bought a new stake in Trade Desk in the 4th quarter worth approximately $34,000. Zions Bancorporation N.A. lifted its position in Trade Desk by 148.3% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock worth $34,000 after buying an additional 175 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new stake in Trade Desk in the 4th quarter worth approximately $39,000. Institutional investors own 67.77% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Royal Bank Of Canada decreased their price target on Trade Desk from $100.00 to $85.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Piper Sandler lifted their price target on Trade Desk from $55.00 to $65.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Truist Financial lifted their price target on Trade Desk from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. JMP Securities decreased their price target on Trade Desk from $115.00 to $100.00 and set a "market outperform" rating on the stock in a research note on Friday, May 9th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $84.00 price target on shares of Trade Desk in a research note on Friday, June 6th. Seven equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat.com, Trade Desk presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.15.

Trade Desk Stock Down 3.7%

NASDAQ TTD opened at $67.64 on Wednesday. The Trade Desk has a twelve month low of $42.96 and a twelve month high of $141.53. The firm has a market capitalization of $33.24 billion, a PE ratio of 82.49, a P/E/G ratio of 3.22 and a beta of 1.41. The stock's 50 day moving average is $64.50 and its 200 day moving average is $85.78.

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

Insider Transactions at Trade Desk

In other news, Director David B. Wells sold 28,638 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total value of $2,287,603.44. Following the sale, the director now directly owns 66,985 shares of the company's stock, valued at approximately $5,350,761.80. This represents a 29.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jeffrey Terry Green sold 26,684 shares of the stock in a transaction 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 now directly owns 17,018 shares in the company, valued at approximately $1,361,950.54. This represents a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.72% of the company's stock.

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.

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