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The Trade Desk (NASDAQ:TTD) Shares Bought by Elevation Point Wealth Partners LLC

Trade Desk logo with Computer and Technology background

Elevation Point Wealth Partners LLC boosted its holdings in The Trade Desk (NASDAQ:TTD - Free Report) by 72.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,152 shares of the technology company's stock after acquiring an additional 4,272 shares during the period. Elevation Point Wealth Partners LLC's holdings in Trade Desk were worth $556,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of TTD. Investment Management Corp VA ADV purchased a new stake in shares of Trade Desk during the fourth quarter worth about $25,000. Rialto Wealth Management LLC purchased a new stake in Trade Desk in the 4th quarter worth approximately $26,000. Midwest Capital Advisors LLC acquired a new position in Trade Desk in the 4th quarter valued at $34,000. Zions Bancorporation N.A. lifted its stake in shares of Trade Desk by 148.3% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock worth $34,000 after purchasing an additional 175 shares during the period. Finally, Kestra Investment Management LLC acquired a new stake in shares of Trade Desk during the fourth quarter worth $39,000. Hedge funds and other institutional investors own 67.77% of the company's stock.

Analysts Set New Price Targets

TTD has been the topic of a number of research analyst reports. Macquarie raised their price target on Trade Desk from $90.00 to $92.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. Piper Sandler increased their price target on shares of Trade Desk from $55.00 to $65.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Benchmark raised shares of Trade Desk from a "sell" rating to a "hold" rating in a research note on Friday, March 7th. Citizens Jmp reduced their target price on Trade Desk from $115.00 to $100.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $84.00 price objective on shares of Trade Desk in a research note on Friday, June 6th. Seven research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat, Trade Desk presently has an average rating of "Moderate Buy" and a consensus target price of $97.15.

Check Out Our Latest Stock Analysis on Trade Desk

Insiders Place Their Bets

In related news, Director David B. Wells sold 28,638 shares of the 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 now owns 66,985 shares of the company's stock, valued at $5,350,761.80. This trade represents a 29.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the chief executive officer now owns 17,018 shares in the company, valued at $1,361,950.54. The trade was a 61.06% decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by corporate insiders.

Trade Desk Price Performance

NASDAQ:TTD traded up $1.02 during mid-day trading on Thursday, reaching $68.66. The stock had a trading volume of 6,313,705 shares, compared to its average volume of 6,211,170. The company has a market capitalization of $33.74 billion, a price-to-earnings ratio of 83.73, a price-to-earnings-growth ratio of 3.10 and a beta of 1.41. The Trade Desk has a 1-year low of $42.96 and a 1-year high of $141.53. The stock's 50 day simple moving average is $64.79 and its two-hundred day simple moving average is $85.66.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its quarterly earnings results 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. Trade Desk had a return on equity of 15.41% and a net margin of 16.04%. The business had revenue of $616.02 million during 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. The business's quarterly revenue was up 25.4% on a year-over-year basis. Sell-side analysts anticipate that The Trade Desk will post 1.06 EPS for the current fiscal year.

About Trade Desk

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Trade Desk (NASDAQ:TTD)

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