HB Wealth Management LLC Has $676,000 Holdings in The Trade Desk (NASDAQ:TTD)

Key Points

• HB Wealth Management LLC increased its stake in The Trade Desk (NASDAQ:TTD) by 36.6%, now owning 12,352 shares valued at $676,000.
• Multiple institutional investors have adjusted their positions, with 67.77% of the stock now owned by institutional investors and hedge funds.
• Research analysts have a consensus target price of $99.64 for Trade Desk shares, with a majority rating the stock as a "Moderate Buy."

HB Wealth Management LLC lifted its position in The Trade Desk (NASDAQ:TTD - Free Report) by 36.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,352 shares of the technology company's stock after purchasing an additional 3,312 shares during the quarter. HB Wealth Management LLC's holdings in Trade Desk were worth $676,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TTD. Investment Management Corp VA ADV purchased a new position in shares of Trade Desk during the fourth quarter valued at approximately $25,000. Park Square Financial Group LLC purchased a new position in shares of Trade Desk during the fourth quarter valued at approximately $47,000. BNP Paribas purchased a new position in shares of Trade Desk during the fourth quarter valued at approximately $50,000. Banque Transatlantique SA purchased a new position in shares of Trade Desk during the fourth quarter valued at approximately $56,000. Finally, Fourth Dimension Wealth LLC purchased a new position in shares of Trade Desk during the fourth quarter valued at approximately $56,000. 67.77% of the stock is owned by institutional investors.

Trade Desk Stock Performance

Shares of NASDAQ:TTD traded down $0.88 during mid-day trading on Friday, hitting $86.08. The stock had a trading volume of 9,973,566 shares, compared to its average volume of 14,718,176. The company has a market cap of $42.30 billion, a PE ratio of 104.98, a P/E/G ratio of 3.95 and a beta of 1.36. The Trade Desk has a 12-month low of $42.96 and a 12-month high of $141.53. The company's 50 day moving average is $75.63 and its 200-day moving average is $74.76.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07. Trade Desk had a net margin of 16.04% and a return on equity of 15.41%. The company had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. During the same quarter in the prior year, the business posted $0.26 EPS. Trade Desk's quarterly revenue was up 25.4% on a year-over-year basis. On average, equities research analysts predict that The Trade Desk will post 1.06 EPS for the current fiscal year.

Insider Transactions at Trade Desk

In related 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 transaction of $2,287,603.44. Following the completion of the transaction, the director directly owned 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey Terry Green sold 26,684 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 17,018 shares of the company's stock, valued at approximately $1,361,950.54. This represents a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Jefferies Financial Group set a $125.00 price target on Trade Desk and gave the company a "buy" rating in a report on Tuesday, April 29th. Citizens Jmp lowered their price target on Trade Desk from $115.00 to $100.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Morgan Stanley boosted their price target on Trade Desk from $60.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, May 9th. JMP Securities reiterated a "market outperform" rating and issued a $100.00 price target on shares of Trade Desk in a report on Tuesday, June 24th. Finally, Macquarie boosted their price target on Trade Desk from $90.00 to $92.00 and gave the company an "outperform" rating in a report on Monday, May 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $100.09.

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.