Teacher Retirement System of Texas Sells 8,548 Shares of The Trade Desk (NASDAQ:TTD)

Teacher Retirement System of Texas decreased its holdings in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 9.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,598 shares of the technology company's stock after selling 8,548 shares during the quarter. Teacher Retirement System of Texas' holdings in Trade Desk were worth $4,739,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Trade Desk by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company's stock valued at $5,015,035,000 after purchasing an additional 253,137 shares during the period. Invesco Ltd. increased its stake in shares of Trade Desk by 2.6% during the fourth quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company's stock valued at $930,477,000 after acquiring an additional 198,822 shares during the period. Norges Bank acquired a new position in shares of Trade Desk during the fourth quarter valued at approximately $524,187,000. FMR LLC increased its stake in shares of Trade Desk by 44.8% during the fourth quarter. FMR LLC now owns 3,788,285 shares of the technology company's stock valued at $445,237,000 after acquiring an additional 1,172,082 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Trade Desk by 13.2% during the fourth quarter. Bank of America Corp DE now owns 3,591,849 shares of the technology company's stock valued at $422,150,000 after acquiring an additional 418,911 shares during the period. Institutional investors and hedge funds own 67.77% of the company's stock.

Insider Buying and Selling

In related news, Director David B. Wells sold 28,638 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the director directly owned 66,985 shares of the company's stock, valued at $5,350,761.80. The trade was a 29.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.72% of the company's stock.

Trade Desk Trading Up 2.8%

NASDAQ TTD traded up $2.06 on Wednesday, reaching $76.09. The company's stock had a trading volume of 394,462 shares, compared to its average volume of 6,361,044. The firm has a market cap of $37.39 billion, a PE ratio of 92.50, a price-to-earnings-growth ratio of 3.37 and a beta of 1.36. The business has a 50-day moving average price of $70.62 and a 200 day moving average price of $79.29. The Trade Desk has a 52 week low of $42.96 and a 52 week high of $141.53.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. KeyCorp raised their price objective on shares of Trade Desk from $67.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Piper Sandler raised their price objective on shares of Trade Desk from $55.00 to $65.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Truist Financial raised their target price on shares of Trade Desk from $95.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Cfra Research upgraded shares of Trade Desk to a "moderate buy" rating in a report on Tuesday, March 25th. Finally, Citizens Jmp reduced their target price on shares of Trade Desk from $115.00 to $100.00 and set an "outperform" rating for the company 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 company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $97.27.

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.