Strategic Advocates LLC Buys 5,027 Shares of The Trade Desk (NASDAQ:TTD)

Key Points

• Strategic Advocates LLC increased its stake in The Trade Desk by 41.3%, acquiring an additional 5,027 shares, bringing its total holdings to 17,194 shares valued at approximately $941,000.
• A number of other investors, including Brighton Jones LLC and Blair William & Co. IL, also boosted their positions in The Trade Desk, indicating growing institutional interest, with institutional ownership at 67.77%.
• Trade Desk's recent earnings report showed a 25.4% increase in revenue year-over-year, and it reported earnings of $0.33 per share, exceeding analysts' expectations of $0.26.

Strategic Advocates LLC raised its stake in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 41.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,194 shares of the technology company's stock after buying an additional 5,027 shares during the period. Strategic Advocates LLC's holdings in Trade Desk were worth $941,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TTD. Brown Advisory Inc. raised its holdings in Trade Desk by 198.4% during the first quarter. Brown Advisory Inc. now owns 8,102,294 shares of the technology company's stock valued at $443,358,000 after buying an additional 5,387,339 shares in the last quarter. FMR LLC increased its stake in shares of Trade Desk by 44.8% in the fourth quarter. FMR LLC now owns 3,788,285 shares of the technology company's stock worth $445,237,000 after purchasing an additional 1,172,082 shares during the period. Nuveen Asset Management LLC increased its stake in shares of Trade Desk by 22.6% in the fourth quarter. Nuveen Asset Management LLC now owns 2,844,036 shares of the technology company's stock worth $334,260,000 after purchasing an additional 523,627 shares during the period. Congress Asset Management Co. increased its stake in shares of Trade Desk by 47.1% in the first quarter. Congress Asset Management Co. now owns 1,478,070 shares of the technology company's stock worth $80,880,000 after purchasing an additional 473,132 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Trade Desk by 16.6% in the fourth quarter. Northern Trust Corp now owns 3,090,014 shares of the technology company's stock worth $363,169,000 after purchasing an additional 439,725 shares during the period. 67.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TTD has been the topic of a number of recent analyst reports. Guggenheim dropped their price objective on Trade Desk from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Royal Bank Of Canada lifted their price objective on Trade Desk from $85.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday. Citizens Jmp dropped their price objective on Trade Desk from $115.00 to $100.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. DA Davidson dropped their price objective on Trade Desk from $103.00 to $92.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Finally, HSBC set a $75.00 price objective on Trade Desk and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $100.09.

Trade Desk Stock Performance

NASDAQ TTD traded down $0.88 during trading on Friday, reaching $86.08. 9,973,566 shares of the company traded hands, compared to its average volume of 14,718,176. The stock's 50 day moving average price is $75.63 and its two-hundred day moving average price is $74.76. The company has a market cap of $42.30 billion, a price-to-earnings ratio of 104.98, a P/E/G ratio of 3.95 and a beta of 1.36. The Trade Desk has a 1-year low of $42.96 and a 1-year high of $141.53.

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

Insider Activity at Trade Desk

In other news, CEO Jeffrey Terry Green sold 26,684 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 17,018 shares of the company's stock, valued at $1,361,950.54. The trade was 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 business's stock in a transaction that occurred 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 completion of the transaction, the director directly owned 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. 10.00% of the stock is owned by insiders.

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.