Cetera Investment Advisers Raises Stock Position in The Trade Desk (NASDAQ:TTD)

Key Points

• Cetera Investment Advisers has increased its stake in The Trade Desk by 27.1%, now holding 176,425 shares worth approximately $9.65 million.
• The Trade Desk reported earnings of $0.33 EPS, surpassing analyst expectations of $0.26, with revenue of $616.02 million for the quarter, demonstrating a year-over-year increase of 25.4%.
• Analyst upgrades for Trade Desk include a price target increase by Oppenheimer from $80 to $110 with an overall average price target of $99.64, reflecting confidence in the company's performance.

Cetera Investment Advisers lifted its stake in The Trade Desk (NASDAQ:TTD - Free Report) by 27.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 176,425 shares of the technology company's stock after purchasing an additional 37,643 shares during the quarter. Cetera Investment Advisers' holdings in Trade Desk were worth $9,654,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of TTD. Investment Management Corp VA ADV purchased a new position in shares of Trade Desk during the 4th quarter valued at approximately $25,000. Cloud Capital Management LLC purchased a new position in shares of Trade Desk during the 1st quarter valued at approximately $27,000. von Borstel & Associates Inc. purchased a new position in shares of Trade Desk during the 1st quarter valued at approximately $31,000. Alpine Bank Wealth Management purchased a new position in shares of Trade Desk during the 1st quarter valued at approximately $35,000. Finally, Pinnacle Bancorp Inc. increased its holdings in shares of Trade Desk by 143.5% during the 1st quarter. Pinnacle Bancorp Inc. now owns 728 shares of the technology company's stock valued at $40,000 after purchasing an additional 429 shares in the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Trade Desk Stock Performance

Shares of NASDAQ TTD traded down $0.88 during trading on Friday, hitting $86.08. 9,973,566 shares of the company were exchanged, compared to its average volume of 14,718,176. The Trade Desk has a 12-month low of $42.96 and a 12-month high of $141.53. The company has a fifty day moving average price of $75.63 and a 200-day moving average price of $74.76. The firm has a market capitalization of $42.30 billion, a PE ratio of 104.98, a P/E/G ratio of 3.95 and a beta of 1.36.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.07. The firm had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. Trade Desk had a net margin of 16.04% and a return on equity of 15.41%. Trade Desk's revenue was up 25.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 EPS. Research analysts anticipate that The Trade Desk will post 1.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TTD has been the topic of a number of research analyst reports. Evercore ISI raised shares of Trade Desk from an "in-line" rating to an "outperform" rating and set a $90.00 price target on the stock in a research note on Friday, June 27th. Macquarie lifted their price target on shares of Trade Desk from $90.00 to $92.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Royal Bank Of Canada lifted their price target on shares of Trade Desk from $85.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday. Oppenheimer lifted their price target on shares of Trade Desk from $80.00 to $110.00 and gave the company an "outperform" rating in a research note on Tuesday. Finally, Wells Fargo & Company cut shares of Trade Desk from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $74.00 to $68.00 in a research note on Thursday, June 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $100.09.

Insider Activity

In related news, CEO Jeffrey Terry Green sold 26,684 shares of the business's stock in a transaction dated 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 directly owned 17,018 shares in the company, valued at approximately $1,361,950.54. The trade was a 61.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David B. Wells sold 28,638 shares of the business'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 completion of the sale, the director owned 66,985 shares in the company, valued at approximately $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. 10.00% of the stock is currently owned by insiders.

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.