TD Asset Management Inc Has $52.30 Million Position in The Trade Desk (NASDAQ:TTD)

Key Points

• TD Asset Management Inc reduced its stake in The Trade Desk by 39.6% during the first quarter, selling 625,601 shares to end up with 955,702 shares valued at approximately $52.3 million.
• Several hedge funds increased their stakes in The Trade Desk, with Blair William & Co. raising its holding by 52.5% in the fourth quarter, demonstrating growing institutional interest in the stock.
• In May, insider sales involved significant transactions, with Director David B. Wells selling 28,638 shares and CEO Jeffrey Terry Green selling 26,684 shares, indicating a decrease in their ownership percentages of the company.

TD Asset Management Inc lowered its position in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 39.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 955,702 shares of the technology company's stock after selling 625,601 shares during the quarter. TD Asset Management Inc owned 0.19% of Trade Desk worth $52,296,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TTD. Investment Management Corp VA ADV acquired a new position in Trade Desk in the 4th quarter valued at approximately $25,000. Cloud Capital Management LLC bought a new stake in Trade Desk in the first quarter worth approximately $27,000. von Borstel & Associates Inc. bought a new stake in Trade Desk in the first quarter worth approximately $31,000. Alpine Bank Wealth Management bought a new stake in Trade Desk in the first quarter worth approximately $35,000. Finally, Pinnacle Bancorp Inc. grew its position in Trade Desk by 143.5% in the first quarter. Pinnacle Bancorp Inc. now owns 728 shares of the technology company's stock worth $40,000 after acquiring an additional 429 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Truist Financial boosted their target price on shares of Trade Desk from $95.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. HSBC set a $75.00 price objective on Trade Desk and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Royal Bank Of Canada decreased their price objective on shares of Trade Desk from $100.00 to $85.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Citizens Jmp decreased their price objective on shares of Trade Desk from $115.00 to $100.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Finally, Evercore ISI raised shares of Trade Desk from an "in-line" rating to an "outperform" rating and set a $90.00 price objective for the company in a report on Friday, June 27th. Eight equities research 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.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $99.64.

Trade Desk Price Performance

Shares of Trade Desk stock traded up $1.95 on Wednesday, hitting $86.48. The company had a trading volume of 4,545,288 shares, compared to its average volume of 10,124,886. The firm has a market capitalization of $42.50 billion, a P/E ratio of 105.47, a P/E/G ratio of 4.02 and a beta of 1.36. The Trade Desk has a twelve month low of $42.96 and a twelve month high of $141.53. The stock has a 50-day moving average of $74.74 and a 200-day moving average of $75.04.

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

Insider Buying and Selling at Trade Desk

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 shares were sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the sale, the chief executive officer directly owned 17,018 shares of the company's stock, valued at approximately $1,361,950.54. This represents a 61.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David B. Wells sold 28,638 shares of the company'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 sale, 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 disclosure for this sale can be found here. Corporate insiders own 10.00% of the company's stock.

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.