Riverbridge Partners LLC Reduces Stock Holdings in The Trade Desk (NASDAQ:TTD)

Riverbridge Partners LLC lowered its stake in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 4.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 336,074 shares of the technology company's stock after selling 14,630 shares during the period. Riverbridge Partners LLC owned 0.07% of Trade Desk worth $18,390,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TTD. Brighton Jones LLC boosted its stake in shares of Trade Desk by 3.8% during the fourth quarter. Brighton Jones LLC now owns 4,586 shares of the technology company's stock valued at $539,000 after acquiring an additional 169 shares during the last quarter. Principal Securities Inc. boosted its stake in shares of Trade Desk by 6.9% during the fourth quarter. Principal Securities Inc. now owns 7,675 shares of the technology company's stock valued at $902,000 after acquiring an additional 496 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Trade Desk by 46.3% during the fourth quarter. Allworth Financial LP now owns 5,470 shares of the technology company's stock valued at $660,000 after acquiring an additional 1,732 shares during the last quarter. D.A. Davidson & CO. boosted its stake in shares of Trade Desk by 0.7% during the fourth quarter. D.A. Davidson & CO. now owns 57,969 shares of the technology company's stock valued at $6,813,000 after acquiring an additional 379 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in shares of Trade Desk by 2.3% during the fourth quarter. Venturi Wealth Management LLC now owns 4,871 shares of the technology company's stock valued at $572,000 after acquiring an additional 108 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company's stock.

Trade Desk Stock Up 1.5%

TTD stock opened at $68.66 on Friday. The Trade Desk has a 52-week low of $42.96 and a 52-week high of $141.53. The stock's 50 day moving average is $65.18 and its two-hundred day moving average is $85.20. The company has a market capitalization of $33.74 billion, a PE ratio of 83.73, a P/E/G ratio of 3.15 and a beta of 1.41.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $575.62 million. During the same period in the previous year, the business earned $0.26 EPS. Trade Desk's revenue for the quarter was up 25.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Trade Desk will post 1.06 EPS for the current year.

Insider Transactions at Trade Desk

In other news, CEO Jeffrey Terry Green sold 26,684 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the sale, the chief executive officer now directly owns 17,018 shares of the company's stock, valued at $1,361,950.54. The trade was a 61.06% 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, Director David B. Wells sold 28,638 shares of the company's stock in a transaction 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 transaction, the director now directly owns 66,985 shares in the company, valued at $5,350,761.80. The trade was 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.

Analyst Upgrades and Downgrades

TTD has been the topic of a number of analyst reports. Cfra Research raised Trade Desk to a "moderate buy" rating in a research note on Tuesday, March 25th. Needham & Company LLC reissued a "buy" rating and issued a $84.00 price target on shares of Trade Desk in a research note on Friday, June 6th. 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. KeyCorp raised their price target on Trade Desk from $67.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Finally, UBS Group decreased their price target on Trade Desk from $116.00 to $80.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Seven research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat.com, Trade Desk presently has a consensus rating of "Moderate Buy" and a consensus target price of $97.15.

Trade Desk 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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