Meeder Advisory Services Inc. Sells 3,098 Shares of The Trade Desk (NASDAQ:TTD)

Key Points

• Meeder Advisory Services Inc. reduced its stake in The Trade Desk by 28.6%, selling 3,098 shares and leaving it with a total of 7,748 shares valued at $424,000.
• Multiple large investors, including Brown Advisory Inc. and FMR LLC, significantly increased their positions in The Trade Desk, indicating strong institutional interest.
• Trade Desk's recent earnings report showed earnings per share of $0.33, surpassing estimates, with quarterly revenue growth of 25.4% compared to last year.

Meeder Advisory Services Inc. reduced its position in The Trade Desk (NASDAQ:TTD - Free Report) by 28.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,748 shares of the technology company's stock after selling 3,098 shares during the period. Meeder Advisory Services Inc.'s holdings in Trade Desk were worth $424,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Wincap Financial LLC grew its position in Trade Desk by 1.9% in the first quarter. Wincap Financial LLC now owns 11,326 shares of the technology company's stock worth $620,000 after acquiring an additional 212 shares in the last quarter. Norden Group LLC raised its stake in Trade Desk by 121.5% during the 1st quarter. Norden Group LLC now owns 5,311 shares of the technology company's stock valued at $291,000 after purchasing an additional 2,913 shares during the last quarter. Bryce Point Capital LLC increased its holdings in Trade Desk by 302.9% in the 1st quarter. Bryce Point Capital LLC now owns 16,727 shares of the technology company's stock valued at $915,000 after buying an additional 12,575 shares during the period. TCW Group Inc. increased its holdings in Trade Desk by 16.5% in the 1st quarter. TCW Group Inc. now owns 1,438,895 shares of the technology company's stock valued at $78,736,000 after buying an additional 203,542 shares during the period. Finally, Sterling Investment Advisors Ltd. grew its holdings in shares of Trade Desk by 3.2% in the 1st quarter. Sterling Investment Advisors Ltd. now owns 47,945 shares of the technology company's stock worth $2,624,000 after purchasing an additional 1,495 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Trade Desk

In other news, CEO Jeffrey Terry Green sold 26,684 shares of the company'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 transaction, the chief executive officer directly owned 17,018 shares of the company's stock, valued at $1,361,950.54. This represents a 61.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David B. Wells sold 28,638 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total value of $2,287,603.44. Following the transaction, the director directly owned 66,985 shares in the company, valued at $5,350,761.80. The trade was a 29.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 10.00% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on TTD shares. Macquarie increased their price objective on shares of Trade Desk from $90.00 to $92.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Jefferies Financial Group set a $125.00 price objective on shares of Trade Desk and gave the stock a "buy" rating in a research note on Tuesday, April 29th. UBS Group restated a "buy" rating and set a $105.00 target price (up from $80.00) on shares of Trade Desk in a report on Wednesday, July 16th. Citigroup reaffirmed a "buy" rating on shares of Trade Desk in a research note on Tuesday, July 15th. Finally, Citizens Jmp decreased their target price on shares of Trade Desk from $115.00 to $100.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $100.09.

Trade Desk Trading Down 1.0%

Trade Desk stock traded down $0.88 during midday trading on Friday, reaching $86.08. The company's stock had a trading volume of 9,973,566 shares, compared to its average volume of 14,718,176. The Trade Desk has a 52 week low of $42.96 and a 52 week high of $141.53. The business has a 50-day moving average price of $75.63 and a 200-day moving average price of $74.76. The stock has a market cap of $42.30 billion, a PE ratio of 104.98, a price-to-earnings-growth ratio of 3.95 and a beta of 1.36.

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

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.