Natixis Advisors LLC Reduces Stock Position in The Trade Desk (NASDAQ:TTD)

Key Points

• Natixis Advisors LLC reduced its holdings in The Trade Desk by 25.5%, selling 109,804 shares during the first quarter, leaving them with 320,227 shares valued at approximately $17.5 million.
• Several institutional investors, including GAMMA Investing LLC and LBP AM SA, significantly increased their stakes in Trade Desk, indicating strong interest in the company.
• Brokerages are optimistic about Trade Desk's prospects, with an average rating of "Moderate Buy" and an average price target of $100.09, reflecting confidence in its growth potential.

Natixis Advisors LLC trimmed its position in The Trade Desk (NASDAQ:TTD - Free Report) by 25.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 320,227 shares of the technology company's stock after selling 109,804 shares during the period. Natixis Advisors LLC owned about 0.06% of Trade Desk worth $17,523,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Investment Management Corp VA ADV purchased a new position in shares of Trade Desk in the 4th quarter worth about $25,000. Park Square Financial Group LLC bought a new stake in Trade Desk in the fourth quarter worth about $47,000. BNP Paribas purchased a new position in Trade Desk in the fourth quarter valued at about $50,000. Banque Cantonale Vaudoise bought a new position in shares of Trade Desk during the 1st quarter valued at approximately $26,000. Finally, Banque Transatlantique SA bought a new position in shares of Trade Desk during the 4th quarter valued at approximately $56,000. 67.77% of the stock is owned by institutional investors.

Trade Desk Trading Down 1.0%

Shares of Trade Desk stock traded down $0.88 on Friday, hitting $86.08. 9,973,566 shares of the company traded hands, compared to its average volume of 15,217,046. The Trade Desk has a 12-month low of $42.96 and a 12-month high of $141.53. The company has a market cap of $42.30 billion, a P/E ratio of 104.98, a P/E/G ratio of 3.91 and a beta of 1.37. The firm's 50-day simple moving average is $75.63 and its 200 day simple moving average is $74.12.

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

Insider Transactions at Trade Desk

In other Trade Desk news, Director David B. Wells sold 28,638 shares of the stock in a transaction that occurred on 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 transaction, the director directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey Terry Green sold 26,684 shares of the business'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 completion of the sale, the chief executive officer owned 17,018 shares of the company's stock, valued at approximately $1,361,950.54. The trade was a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.00% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TTD shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $84.00 price target on shares of Trade Desk in a report on Friday, June 6th. Morgan Stanley boosted their target price on Trade Desk from $60.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Evercore ISI upgraded Trade Desk from an "in-line" rating to an "outperform" rating and set a $90.00 price target for the company in a research note on Friday, June 27th. Oppenheimer boosted their price objective on Trade Desk from $80.00 to $110.00 and gave the company an "outperform" rating in a research note on Tuesday, July 29th. Finally, UBS Group reiterated a "buy" rating and set a $105.00 target price (up previously from $80.00) on shares of Trade Desk in a research report on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $100.09.

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.