Readystate Asset Management LP Buys Shares of 122,400 The Trade Desk (NASDAQ:TTD)

Readystate Asset Management LP purchased a new position in The Trade Desk (NASDAQ:TTD - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 122,400 shares of the technology company's stock, valued at approximately $6,698,000.

Other institutional investors also recently bought and sold shares of the company. Investment Management Corp VA ADV acquired a new position in shares of Trade Desk in the fourth quarter valued at approximately $25,000. Cloud Capital Management LLC purchased a new position in Trade Desk in the first quarter worth approximately $27,000. von Borstel & Associates Inc. purchased a new position in Trade Desk in the first quarter worth approximately $31,000. Zions Bancorporation N.A. lifted its stake in Trade Desk by 148.3% in the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock worth $34,000 after acquiring an additional 175 shares during the last quarter. Finally, Alpine Bank Wealth Management purchased a new position in Trade Desk in the first quarter worth approximately $35,000. 67.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Jeffrey Terry Green sold 26,684 shares of the company'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 completion of the sale, the chief executive officer owned 17,018 shares of the company's stock, valued at $1,361,950.54. This represents a 61.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David B. Wells sold 28,638 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the sale, the director directly owned 66,985 shares of the company's stock, valued at $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. Insiders own 9.74% of the company's stock.

Trade Desk Price Performance

NASDAQ:TTD traded up $2.96 on Wednesday, reaching $84.63. The stock had a trading volume of 8,895,357 shares, compared to its average volume of 7,189,645. The company has a market cap of $41.59 billion, a price-to-earnings ratio of 103.21, a P/E/G ratio of 3.74 and a beta of 1.36. The firm's fifty day moving average is $74.04 and its two-hundred day moving average is $76.36. The Trade Desk has a 12-month low of $42.96 and a 12-month high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its quarterly earnings results 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 net margin of 16.04% and a return on equity of 15.41%. The firm had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. During the same quarter last year, the firm posted $0.26 earnings per share. Trade Desk's revenue for the quarter was up 25.4% compared to the same quarter last year. As a group, research analysts forecast that The Trade Desk will post 1.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TTD. Macquarie lifted their price target on shares of Trade Desk from $90.00 to $92.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. KeyCorp boosted their price objective on shares of Trade Desk from $80.00 to $95.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Piper Sandler boosted their price objective on shares of Trade Desk from $55.00 to $65.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Citigroup restated a "buy" rating on shares of Trade Desk in a research report on Tuesday, July 15th. Finally, UBS Group reiterated a "buy" rating and issued a $105.00 price target (up previously from $80.00) on shares of Trade Desk in a research report on Wednesday, July 16th. Eight equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company's stock. According to MarketBeat, Trade Desk presently has a consensus rating of "Moderate Buy" and an average target price 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.