Bessemer Group Inc. Grows Position in The Trade Desk (NASDAQ:TTD)

Bessemer Group Inc. lifted its holdings in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 59.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,930 shares of the technology company's stock after acquiring an additional 4,811 shares during the quarter. Bessemer Group Inc.'s holdings in Trade Desk were worth $708,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TTD. Vanguard Group Inc. increased its stake in shares of Trade Desk by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company's stock worth $5,015,035,000 after acquiring an additional 253,137 shares in the last quarter. Invesco Ltd. grew its holdings in Trade Desk by 2.6% in the fourth quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company's stock worth $930,477,000 after purchasing an additional 198,822 shares during the period. Norges Bank bought a new position in shares of Trade Desk during the fourth quarter valued at approximately $524,187,000. FMR LLC grew its stake in shares of Trade Desk by 44.8% in the 4th quarter. FMR LLC now owns 3,788,285 shares of the technology company's stock worth $445,237,000 after buying an additional 1,172,082 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Trade Desk by 13.2% during the 4th quarter. Bank of America Corp DE now owns 3,591,849 shares of the technology company's stock valued at $422,150,000 after buying an additional 418,911 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TTD. JMP Securities reissued a "market outperform" rating and issued a $100.00 target price on shares of Trade Desk in a research note on Tuesday, June 24th. Morgan Stanley increased their price objective on shares of Trade Desk from $60.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Royal Bank Of Canada decreased their target price on shares of Trade Desk from $100.00 to $85.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Stifel Nicolaus reduced their price target on shares of Trade Desk from $122.00 to $87.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, Guggenheim decreased their price objective on shares of Trade Desk from $110.00 to $90.00 and set a "buy" rating for the company in a report on Friday, May 9th. Eight analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $97.27.

Trade Desk Price Performance

Shares of TTD stock traded up $0.81 during trading hours on Friday, hitting $74.39. The stock had a trading volume of 3,176,387 shares, compared to its average volume of 6,362,371. The stock has a market capitalization of $36.56 billion, a price-to-earnings ratio of 90.72, a PEG ratio of 3.38 and a beta of 1.36. The Trade Desk has a one year low of $42.96 and a one year high of $141.53. The stock's 50-day moving average price is $69.44 and its two-hundred day moving average price is $80.76.

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

Insiders Place Their Bets

In other Trade Desk news, Director David B. Wells sold 28,638 shares of the business'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 transaction of $2,287,603.44. Following 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeffrey Terry Green sold 26,684 shares of the company'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 value of $2,135,520.52. Following the sale, the chief executive officer owned 17,018 shares in the company, 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. 9.74% of the stock is owned by corporate insiders.

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.