Readystate Asset Management LP Takes Position in The Trade Desk (NASDAQ:TTD)

Readystate Asset Management LP purchased a new stake in The Trade Desk (NASDAQ:TTD - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 122,400 shares of the technology company's stock, valued at approximately $6,698,000.

Other large investors have also modified their holdings of the company. Investment Management Corp VA ADV acquired a new stake in shares of Trade Desk during the 4th quarter worth about $25,000. Cloud Capital Management LLC acquired a new stake in shares of Trade Desk during the 1st quarter worth about $27,000. von Borstel & Associates Inc. acquired a new stake in shares of Trade Desk during the 1st quarter worth about $31,000. Zions Bancorporation N.A. raised its position in shares of Trade Desk by 148.3% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock worth $34,000 after acquiring an additional 175 shares in the last quarter. Finally, Alpine Bank Wealth Management purchased a new position in Trade Desk during the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 67.77% of the company's stock.

Trade Desk Price Performance

Shares of NASDAQ TTD traded up $1.26 during midday trading on Tuesday, reaching $81.29. The company's stock had a trading volume of 3,453,989 shares, compared to its average volume of 10,220,329. The Trade Desk has a 12-month low of $42.96 and a 12-month high of $141.53. The firm has a 50 day moving average price of $73.96 and a 200-day moving average price of $76.62. The stock has a market capitalization of $39.95 billion, a P/E ratio of 99.14, a PEG ratio of 3.67 and a beta of 1.36.

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 15.41% and a net margin of 16.04%. The business had revenue of $616.02 million for the quarter, compared to the consensus estimate of $575.62 million. During the same quarter in the prior year, the business earned $0.26 earnings per share. Trade Desk's revenue for the quarter was up 25.4% on a year-over-year basis. On average, equities analysts predict that The Trade Desk will post 1.06 EPS for the current year.

Insider Buying and Selling at Trade Desk

In other news, Director David B. Wells sold 28,638 shares of the firm's stock in a transaction dated 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 directly owned 66,985 shares of the company's stock, valued at approximately $5,350,761.80. This trade represents a 29.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey Terry Green sold 26,684 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $80.03, for a total value of $2,135,520.52. Following the transaction, the chief executive officer directly owned 17,018 shares in the company, valued at $1,361,950.54. This trade represents a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Citizens Jmp reduced their price target on Trade Desk from $115.00 to $100.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Oppenheimer lifted their price objective on Trade Desk from $75.00 to $80.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Evercore ISI raised Trade Desk from an "in-line" rating to an "outperform" rating and set a $90.00 price objective for the company in a report on Friday, June 27th. DA Davidson reduced their price objective on Trade Desk from $103.00 to $92.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, Guggenheim reduced their price objective on Trade Desk from $110.00 to $90.00 and set a "buy" rating for the company in a report on Friday, May 9th. Eight equities research 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, Trade Desk has an average rating of "Moderate Buy" and an average price target of $98.73.

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.

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