The Trade Desk (NASDAQ:TTD) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 1.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,982,235 shares of the technology company's stock after selling 37,472 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.40% of Trade Desk worth $108,468,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TTD. Norges Bank acquired a new position in shares of Trade Desk during the fourth quarter worth about $524,187,000. Brown Advisory Inc. grew its position in shares of Trade Desk by 3,037.0% during the fourth quarter. Brown Advisory Inc. now owns 2,714,955 shares of the technology company's stock worth $319,089,000 after buying an additional 2,628,409 shares in the last quarter. Franklin Resources Inc. lifted its stake in Trade Desk by 265.9% during the fourth quarter. Franklin Resources Inc. now owns 1,864,386 shares of the technology company's stock worth $219,121,000 after purchasing an additional 1,354,891 shares during the last quarter. 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. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Trade Desk during the fourth quarter worth approximately $100,658,000. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Price Performance

Shares of TTD opened at $75.63 on Thursday. The company has a market cap of $37.17 billion, a P/E ratio of 92.23, a PEG ratio of 3.40 and a beta of 1.36. The stock has a fifty day moving average price of $71.06 and a 200 day moving average price of $79.26. The Trade Desk has a 12 month low of $42.96 and a 12 month high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.07. The firm had revenue of $616.02 million during 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 firm's revenue was up 25.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.26 EPS. As a group, research analysts anticipate that The Trade Desk will post 1.06 earnings per share for the current 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 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 completion of the transaction, the director owned 66,985 shares in the company, valued at approximately $5,350,761.80. The trade was a 29.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 26,684 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $80.03, for a total value of $2,135,520.52. Following the transaction, the chief executive officer owned 17,018 shares of the company's stock, valued at $1,361,950.54. This trade 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.

Analysts Set New Price Targets

TTD has been the subject of several recent analyst reports. JMP Securities restated a "market outperform" rating and set a $100.00 target price on shares of Trade Desk in a research note on Tuesday, June 24th. Needham & Company LLC restated a "buy" rating and set a $84.00 target price on shares of Trade Desk in a research note on Friday, June 6th. UBS Group decreased their target price on Trade Desk from $116.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, April 11th. KeyCorp boosted their target price on Trade Desk from $67.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Finally, Morgan Stanley boosted their price objective on Trade Desk from $60.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Eight equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $97.27.

Trade Desk Company 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.

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