Virtu Financial LLC Sells 10,981 Shares of The Trade Desk (NASDAQ:TTD)

Key Points

• Virtu Financial LLC has reduced its stake in The Trade Desk (NASDAQ:TTD) by 16.9%, selling 10,981 shares and now holding 53,939 shares valued at approximately $2.95 million.
• The Trade Desk reported a missed earnings estimate for the last quarter, with earnings per share of $0.41 compared to the expected $0.42, despite achieving a revenue of $694.04 million, surpassing expectations.
• Institutional investors own 67.77% of The Trade Desk's stock, with several hedge funds recently acquiring stakes in the company, signaling sustained interest from investors despite fluctuations in stock performance.

Virtu Financial LLC reduced its stake in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 16.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,939 shares of the technology company's stock after selling 10,981 shares during the quarter. Virtu Financial LLC's holdings in Trade Desk were worth $2,952,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TTD. Anchor Investment Management LLC increased its stake in shares of Trade Desk by 17.2% during the fourth quarter. Anchor Investment Management LLC now owns 1,020 shares of the technology company's stock worth $120,000 after acquiring an additional 150 shares during the period. Brighton Jones LLC increased its stake in shares of Trade Desk by 3.8% during the fourth quarter. Brighton Jones LLC now owns 4,586 shares of the technology company's stock worth $539,000 after acquiring an additional 169 shares during the period. Peterson Wealth Services increased its stake in shares of Trade Desk by 2.2% during the first quarter. Peterson Wealth Services now owns 8,992 shares of the technology company's stock worth $492,000 after acquiring an additional 190 shares during the period. Prosperity Consulting Group LLC increased its stake in shares of Trade Desk by 2.6% during the fourth quarter. Prosperity Consulting Group LLC now owns 7,834 shares of the technology company's stock worth $921,000 after acquiring an additional 200 shares during the period. Finally, Cornerstone Wealth Management LLC increased its stake in shares of Trade Desk by 5.1% during the first quarter. Cornerstone Wealth Management LLC now owns 4,204 shares of the technology company's stock worth $230,000 after acquiring an additional 205 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Stock Down 2.0%

Shares of TTD traded down $1.06 during midday trading on Monday, reaching $53.17. 37,564,346 shares of the stock were exchanged, compared to its average volume of 10,977,144. The company has a market cap of $26.13 billion, a price-to-earnings ratio of 64.06, a P/E/G ratio of 2.46 and a beta of 1.37. The Trade Desk has a 12-month low of $42.96 and a 12-month high of $141.53. The firm has a 50 day simple moving average of $75.87 and a 200-day simple moving average of $72.23.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.24). The firm had revenue of $694.04 million for the quarter, compared to analyst estimates of $686.00 million. Trade Desk had a net margin of 15.57% and a return on equity of 15.19%. The firm's quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 earnings per share. Research analysts expect that The Trade Desk will post 1.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Trade Desk

In related news, 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 transaction of $2,287,603.44. Following the completion of the sale, the director directly owned 66,985 shares of the company's stock, valued at approximately $5,350,761.80. This represents a 29.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jay R. Grant sold 51,290 shares of the company's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $91.18, for a total transaction of $4,676,622.20. Following the sale, the insider directly owned 218,246 shares of the company's stock, valued at approximately $19,899,670.28. This represents a 19.03% 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.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Truist Financial upped 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. Morgan Stanley upped their target price on shares of Trade Desk from $60.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Wells Fargo & Company downgraded shares of Trade Desk from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $74.00 to $68.00 in a report on Thursday, June 26th. Oppenheimer upped their price target on shares of Trade Desk from $80.00 to $110.00 and gave the company an "outperform" rating in a report on Tuesday, July 29th. Finally, HSBC reaffirmed a "hold" rating and issued a $56.00 price target on shares of Trade Desk in a report on Monday. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $89.33.

Trade Desk 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.