Blair William & Co. IL Has $1.90 Million Position in The Trade Desk (NASDAQ:TTD)

Key Points

• Blair William & Co. IL increased its stake in The Trade Desk by 168.5%, owning 34,703 shares valued at approximately $1.9 million as of the end of the first quarter.
• In the latest earnings report, The Trade Desk reported $0.41 earnings per share, missing forecasts by $0.01, despite revenue of $694.04 million that surpassed expectations.
• Several analysts have adjusted their price targets for The Trade Desk, with target prices ranging from $55 to $110, indicating a mixed outlook after a recent decline in stock value.

Blair William & Co. IL lifted its position in The Trade Desk (NASDAQ:TTD - Free Report) by 168.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,703 shares of the technology company's stock after purchasing an additional 21,779 shares during the quarter. Blair William & Co. IL's holdings in Trade Desk were worth $1,899,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Malaga Cove Capital LLC increased its holdings in shares of Trade Desk by 3.3% in the 1st quarter. Malaga Cove Capital LLC now owns 17,392 shares of the technology company's stock worth $952,000 after purchasing an additional 548 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its position in Trade Desk by 420.7% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 20,465 shares of the technology company's stock valued at $1,120,000 after purchasing an additional 16,535 shares during the period. PNC Financial Services Group Inc. lifted its position in Trade Desk by 14.3% during the first quarter. PNC Financial Services Group Inc. now owns 92,519 shares of the technology company's stock valued at $5,063,000 after purchasing an additional 11,589 shares during the period. Jupiter Asset Management Ltd. bought a new stake in shares of Trade Desk in the first quarter worth $7,348,000. Finally, Kazazian Asset Management LLC bought a new stake in shares of Trade Desk in the first quarter worth $348,000. Institutional investors own 67.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TTD shares. Wells Fargo & Company lowered Trade Desk from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $74.00 to $68.00 in a report on Thursday, June 26th. KeyCorp lifted their target price on Trade Desk from $80.00 to $95.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Macquarie boosted their price objective on Trade Desk from $90.00 to $92.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Morgan Stanley boosted their target price on Trade Desk from $60.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, Wedbush restated an "outperform" rating and set a $86.00 price objective on shares of Trade Desk in a research report on Tuesday, July 15th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $89.33.

Insider Activity

In other Trade Desk news, insider Jay R. Grant sold 51,290 shares of Trade Desk stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $91.18, for a total transaction of $4,676,622.20. Following the completion of the sale, the insider owned 218,246 shares of the company's stock, valued at $19,899,670.28. This trade represents a 19.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 10.00% of the stock is owned by company insiders.

Trade Desk Trading Down 0.9%

TTD traded down $0.47 on Tuesday, hitting $52.71. 10,261,269 shares of the company's stock were exchanged, compared to its average volume of 10,967,250. The stock has a fifty day moving average of $75.87 and a two-hundred day moving average of $72.23. The firm has a market cap of $25.91 billion, a PE ratio of 63.55, a P/E/G ratio of 2.46 and a beta of 1.37. The Trade Desk has a twelve month low of $42.96 and a twelve month high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The technology company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.24). Trade Desk had a net margin of 15.57% and a return on equity of 15.19%. The firm had revenue of $694.04 million during the quarter, compared to analyst estimates of $686.00 million. During the same quarter in the previous year, the business posted $0.39 EPS. Trade Desk's revenue for the quarter was up 18.7% compared to the same quarter last year. On average, analysts predict that The Trade Desk will post 1.06 EPS for the current 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.