Bank of New York Mellon Corp Has $108.47 Million Position in The Trade Desk (NASDAQ:TTD)

Bank of New York Mellon Corp cut its stake in The Trade Desk (NASDAQ:TTD - Free Report) by 1.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,982,235 shares of the technology company's stock after selling 37,472 shares during the period. Bank of New York Mellon Corp owned 0.40% of Trade Desk worth $108,468,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV acquired a new stake in Trade Desk in the fourth quarter worth $25,000. von Borstel & Associates Inc. bought a new position in Trade Desk during the first quarter valued at about $31,000. Zions Bancorporation N.A. boosted its stake in Trade Desk by 148.3% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock valued at $34,000 after buying an additional 175 shares in the last quarter. Alpine Bank Wealth Management bought a new position in Trade Desk during the first quarter valued at about $35,000. Finally, Pinnacle Bancorp Inc. boosted its position in shares of Trade Desk by 143.5% in 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 during the period. 67.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Trade Desk news, CEO Jeffrey Terry Green sold 26,684 shares of the company'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 sale, the chief executive officer directly owned 17,018 shares in the company, valued at $1,361,950.54. This represents a 61.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David B. Wells sold 28,638 shares of the company's stock in a transaction on 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 in the company, valued at $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. Corporate insiders own 9.74% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on TTD shares. Rosenblatt Securities increased their price target on Trade Desk from $77.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Morgan Stanley raised their price target on Trade Desk from $60.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. UBS Group cut their price target 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. JMP Securities reaffirmed a "market outperform" rating and set a $100.00 price target on shares of Trade Desk in a research note on Tuesday, June 24th. Finally, Guggenheim cut their price target on Trade Desk from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Eight analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $97.27.

Trade Desk Price Performance

Shares of TTD traded down $1.57 on Friday, reaching $75.28. 3,030,747 shares of the stock traded hands, compared to its average volume of 6,382,309. The firm has a market cap of $36.99 billion, a price-to-earnings ratio of 91.89, a P/E/G ratio of 3.47 and a beta of 1.36. The Trade Desk has a 12 month low of $42.96 and a 12 month high of $141.53. The stock's 50-day moving average price is $71.54 and its 200-day moving average price is $78.95.

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, beating analysts' consensus estimates of $0.26 by $0.07. The business had revenue of $616.02 million for the quarter, compared to analysts' expectations of $575.62 million. Trade Desk had a return on equity of 15.41% and a net margin of 16.04%. Trade Desk's quarterly revenue was up 25.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.26 earnings per share. As a group, equities research analysts forecast that The Trade Desk will post 1.06 earnings per share for the current fiscal year.

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.