HB Wealth Management LLC Raises Stake 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 stake in The Trade Desk (NASDAQ:TTD - Free Report) by 36.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 12,352 shares of the technology company's stock after acquiring 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. Brighton Jones LLC lifted its holdings in shares of Trade Desk by 3.8% in the 4th quarter. Brighton Jones LLC now owns 4,586 shares of the technology company's stock worth $539,000 after acquiring an additional 169 shares during the last quarter. Blair William & Co. IL increased its stake in Trade Desk by 52.5% during the 4th quarter. Blair William & Co. IL now owns 12,924 shares of the technology company's stock worth $1,519,000 after buying an additional 4,448 shares during the period. Brown Brothers Harriman & Co. increased its stake in Trade Desk by 138.5% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,116 shares of the technology company's stock worth $131,000 after buying an additional 648 shares during the period. O Shaughnessy Asset Management LLC increased its stake in Trade Desk by 5.5% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 43,822 shares of the technology company's stock worth $5,150,000 after buying an additional 2,284 shares during the period. Finally, Wellington Management Group LLP increased its stake in Trade Desk by 0.7% during the 4th quarter. Wellington Management Group LLP now owns 1,559,508 shares of the technology company's stock worth $183,289,000 after buying an additional 10,109 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TTD shares. Wells Fargo & Company downgraded shares of Trade Desk from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $74.00 to $68.00 in a research note on Thursday, June 26th. UBS Group reissued a "buy" rating and issued a $105.00 price objective (up from $80.00) on shares of Trade Desk in a research report on Wednesday, July 16th. Stifel Nicolaus increased their price objective on shares of Trade Desk from $87.00 to $95.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Guggenheim dropped their price objective on shares of Trade Desk from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $84.00 price objective on shares of Trade Desk in a research report on Friday, June 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-six have given a buy rating to the company's stock. According to MarketBeat, Trade Desk currently has a consensus rating of "Moderate Buy" and a consensus price target of $98.73.

Insider Activity

In other Trade Desk news, CEO Jeffrey Terry Green sold 26,684 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer directly owned 17,018 shares in the company, valued at approximately $1,361,950.54. This trade represents a 61.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David B. Wells sold 28,638 shares of the firm's 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 transaction, the director owned 66,985 shares of the company's stock, valued at $5,350,761.80. This trade represents a 29.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.00% of the company's stock.

Trade Desk Stock Performance

NASDAQ:TTD traded up $3.31 during mid-day trading on Monday, hitting $89.39. 4,977,119 shares of the company's stock traded hands, compared to its average volume of 10,081,458. The firm's 50 day simple moving average is $75.63 and its 200 day simple moving average is $74.12. The Trade Desk has a 1 year low of $42.96 and a 1 year high of $141.53. The company has a market cap of $43.93 billion, a PE ratio of 108.97, a price-to-earnings-growth ratio of 3.91 and a beta of 1.37.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, beating 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 firm had revenue of $616.02 million during the quarter, compared to the consensus estimate of $575.62 million. During the same period last year, the firm posted $0.26 EPS. The firm's revenue for the quarter was up 25.4% on a year-over-year basis. On average, research analysts expect that The Trade Desk will post 1.06 earnings per share for the current fiscal year.

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.