TCW Group Inc. Grows Stock Position in The Trade Desk (NASDAQ:TTD)

Key Points

• TCW Group Inc. increased its stake in The Trade Desk (NASDAQ:TTD) by 16.5% during the first quarter, now owning approximately 1.44 million shares valued at about $78.74 million.
• Several institutional investors significantly raised their holdings in The Trade Desk, with Brown Advisory Inc. notably lifting its stake by 198.4% during the same period.
• Analysts have issued a consensus rating of "Moderate Buy" for The Trade Desk, with a price target averaging $98.73, reflecting positive confidence in the company’s future performance.

TCW Group Inc. boosted its holdings in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 16.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,438,895 shares of the technology company's stock after buying an additional 203,542 shares during the period. TCW Group Inc. owned approximately 0.29% of Trade Desk worth $78,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brown Advisory Inc. increased its holdings in shares of Trade Desk by 198.4% in the 1st quarter. Brown Advisory Inc. now owns 8,102,294 shares of the technology company's stock valued at $443,358,000 after purchasing an additional 5,387,339 shares in the last quarter. Norges Bank purchased a new position in Trade Desk in the fourth quarter valued at about $524,187,000. Franklin Resources Inc. increased its holdings in Trade Desk by 265.9% in the fourth quarter. Franklin Resources Inc. now owns 1,864,386 shares of the technology company's stock valued at $219,121,000 after buying an additional 1,354,891 shares in the last quarter. FMR LLC increased its holdings in Trade Desk by 44.8% in the fourth quarter. FMR LLC now owns 3,788,285 shares of the technology company's stock valued at $445,237,000 after buying an additional 1,172,082 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Trade Desk in the fourth quarter valued at about $100,658,000. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Stock Performance

Shares of NASDAQ:TTD traded up $1.63 during midday trading on Wednesday, hitting $86.16. 2,592,876 shares of the stock were exchanged, compared to its average volume of 10,113,055. The Trade Desk has a 52-week low of $42.96 and a 52-week high of $141.53. The business's fifty day simple moving average is $74.74 and its two-hundred day simple moving average is $75.04. The company has a market capitalization of $42.34 billion, a PE ratio of 105.25, a P/E/G ratio of 4.02 and a beta of 1.36.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.07. The company had revenue of $616.02 million during 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 firm's quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.26 earnings per share. As a group, equities analysts anticipate that The Trade Desk will post 1.06 EPS for the current year.

Wall Street Analyst Weigh In

TTD has been the topic of several analyst reports. HSBC set a $75.00 target price on shares of Trade Desk and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. UBS Group reissued a "buy" rating and issued a $105.00 target price (up previously from $80.00) on shares of Trade Desk in a research note on Wednesday, July 16th. Guggenheim decreased their target price on Trade Desk from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Truist Financial lifted their price target on Trade Desk from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, Needham & Company LLC restated a "buy" rating and set a $84.00 price objective on shares of Trade Desk in a research note on Friday, June 6th. Eight research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Trade Desk currently has an average rating of "Moderate Buy" and a consensus target price of $99.64.

Insider Activity at Trade Desk

In other Trade Desk news, Director David B. Wells sold 28,638 shares of Trade Desk stock in a transaction dated 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 sale, the director 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jeffrey Terry Green sold 26,684 shares of Trade Desk stock in a transaction dated 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 sale, the chief executive officer directly owned 17,018 shares of the company's stock, valued at approximately $1,361,950.54. This trade represents a 61.06% decrease in their position. The disclosure for this sale can be found here. 10.00% of the stock is currently owned by insiders.

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.