Migdal Insurance & Financial Holdings Ltd. Raises Stock Position in The Trade Desk (NASDAQ:TTD)

Migdal Insurance & Financial Holdings Ltd. grew its position in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 3,888,788.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 350,000 shares of the technology company's stock after acquiring an additional 349,991 shares during the quarter. Migdal Insurance & Financial Holdings Ltd. owned 0.07% of Trade Desk worth $19,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in TTD. Vanguard Group Inc. grew its position in Trade Desk by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company's stock valued at $5,015,035,000 after buying an additional 253,137 shares during the period. Brown Advisory Inc. grew its position in shares of Trade Desk by 198.4% in the first quarter. Brown Advisory Inc. now owns 8,102,294 shares of the technology company's stock valued at $443,358,000 after purchasing an additional 5,387,339 shares in the last quarter. Invesco Ltd. boosted its holdings in Trade Desk by 2.6% in the 4th quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company's stock valued at $930,477,000 after purchasing an additional 198,822 shares during the period. Norges Bank bought a new position in shares of Trade Desk in the fourth quarter worth approximately $524,187,000. Finally, FMR LLC lifted its stake in Trade Desk by 44.8% during the fourth quarter. FMR LLC now owns 3,788,285 shares of the technology company's stock worth $445,237,000 after purchasing an additional 1,172,082 shares during the last quarter. Institutional investors own 67.77% of the company's stock.

Trade Desk Trading Down 1.5%

Shares of TTD stock traded down $1.23 during trading hours on Friday, reaching $80.21. 11,384,941 shares of the company's stock were exchanged, compared to its average volume of 7,126,457. The company has a market cap of $39.42 billion, a price-to-earnings ratio of 97.82, a P/E/G ratio of 3.74 and a beta of 1.36. The Trade Desk has a fifty-two week low of $42.96 and a fifty-two week high of $141.53. The stock's 50 day moving average is $73.96 and its 200-day moving average is $77.18.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 EPS 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 company had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. During the same period in the prior year, the company earned $0.26 earnings per share. The firm's revenue was up 25.4% on a year-over-year basis. Equities analysts anticipate that The Trade Desk will post 1.06 EPS for the current year.

Insider Buying and Selling at Trade Desk

In related news, Director David B. Wells sold 28,638 shares of the company's 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 completion of the sale, the director owned 66,985 shares of the company's stock, valued at approximately $5,350,761.80. This represents a 29.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 26,684 shares of the firm'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 sale, the chief executive officer owned 17,018 shares of the company's stock, valued at $1,361,950.54. This represents a 61.06% decrease in their position. The disclosure for this sale can be found here. Insiders own 9.74% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on TTD. Morgan Stanley upped their price target on shares of Trade Desk from $60.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Rosenblatt Securities increased their price objective on shares of Trade Desk from $77.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Wells Fargo & Company lowered Trade Desk from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $74.00 to $68.00 in a research note on Thursday, June 26th. UBS Group reaffirmed a "buy" rating and issued a $105.00 price objective (up previously from $80.00) on shares of Trade Desk in a research note on Wednesday. Finally, DA Davidson cut their target price on shares of Trade Desk from $103.00 to $92.00 and set a "buy" rating for the company in a report on Friday, May 9th. Eight investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, Trade Desk currently has an average rating of "Moderate Buy" and a consensus price target of $98.48.

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.