Sigma Planning Corp Grows Stock Position in The Trade Desk (NASDAQ:TTD)

Sigma Planning Corp raised its holdings in The Trade Desk (NASDAQ:TTD - Free Report) by 25.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,709 shares of the technology company's stock after buying an additional 3,406 shares during the quarter. Sigma Planning Corp's holdings in Trade Desk were worth $914,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Louisiana State Employees Retirement System boosted its position in shares of Trade Desk by 0.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 33,100 shares of the technology company's stock valued at $1,811,000 after purchasing an additional 300 shares during the period. Schechter Investment Advisors LLC increased its position in shares of Trade Desk by 36.7% during the first quarter. Schechter Investment Advisors LLC now owns 6,748 shares of the technology company's stock worth $369,000 after acquiring an additional 1,813 shares during the last quarter. Arizona State Retirement System increased its holdings in Trade Desk by 2.5% in the first quarter. Arizona State Retirement System now owns 131,916 shares of the technology company's stock valued at $7,218,000 after buying an additional 3,212 shares during the last quarter. Berbice Capital Management LLC grew its holdings in shares of Trade Desk by 87.5% during the first quarter. Berbice Capital Management LLC now owns 750 shares of the technology company's stock valued at $41,000 after purchasing an additional 350 shares during the last quarter. Finally, Xponance Inc. lifted its position in Trade Desk by 1.5% in the first quarter. Xponance Inc. now owns 87,180 shares of the technology company's stock worth $4,770,000 after purchasing an additional 1,323 shares during the period. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Trade Desk Stock Performance

TTD opened at $81.44 on Friday. The Trade Desk has a 1 year low of $42.96 and a 1 year high of $141.53. The company's 50 day simple moving average is $73.78 and its 200 day simple moving average is $77.44. The stock has a market capitalization of $40.02 billion, a PE ratio of 99.32, a P/E/G ratio of 3.72 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 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. The business had revenue of $616.02 million during the quarter, compared to the consensus estimate of $575.62 million. Trade Desk had a net margin of 16.04% and a return on equity of 15.41%. The company's quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.26 earnings per share. As a group, sell-side analysts expect that The Trade Desk will post 1.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

TTD has been the subject of several research analyst reports. Morgan Stanley boosted their price objective on shares of Trade Desk from $60.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Macquarie increased their price objective 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. JMP Securities reiterated a "market outperform" rating and issued a $100.00 target price on shares of Trade Desk in a research note on Tuesday, June 24th. Wells Fargo & Company cut shares of Trade Desk from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $74.00 to $68.00 in a report on Thursday, June 26th. Finally, Citizens Jmp lowered their target price on shares of Trade Desk from $115.00 to $100.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Eight investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $98.48.

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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