The Trade Desk (NASDAQ:TTD) Stake Raised by Bryce Point Capital LLC

Key Points

• Bryce Point Capital LLC has significantly increased its stake in The Trade Desk by 302.9%, now holding 16,727 shares worth approximately $915,000.
• Trade Desk's stock has been positively rated by multiple analysts, with a consensus price target of $98.73 and a mix of "buy" and "outperform" ratings across several firms.
• Insider transactions revealed a 29.95% decrease in holdings by Director David B. Wells and a 61.06% decrease by CEO Jeffrey Terry Green after both sold substantial amounts of stock.

Bryce Point Capital LLC increased its holdings in The Trade Desk (NASDAQ:TTD - Free Report) by 302.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,727 shares of the technology company's stock after acquiring an additional 12,575 shares during the period. Bryce Point Capital LLC's holdings in Trade Desk were worth $915,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of TTD. Brown Advisory Inc. increased its position in Trade Desk by 198.4% in the 1st quarter. Brown Advisory Inc. now owns 8,102,294 shares of the technology company's stock worth $443,358,000 after purchasing an additional 5,387,339 shares during the last quarter. Invesco Ltd. increased its position in Trade Desk by 2.6% in the 4th quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company's stock worth $930,477,000 after purchasing an additional 198,822 shares during the last quarter. Norges Bank acquired a new position in Trade Desk in the 4th quarter worth about $524,187,000. FMR LLC increased its position in Trade Desk by 44.8% in the 4th 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, Bank of America Corp DE increased its position in Trade Desk by 13.2% in the 4th quarter. Bank of America Corp DE now owns 3,591,849 shares of the technology company's stock worth $422,150,000 after purchasing an additional 418,911 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Citizens Jmp dropped their target price on Trade Desk from $115.00 to $100.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. DA Davidson lowered their price objective on Trade Desk from $103.00 to $92.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Needham & Company LLC reissued a "buy" rating and set a $84.00 price objective on shares of Trade Desk in a report on Friday, June 6th. Macquarie increased their price objective on Trade Desk from $90.00 to $92.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Finally, JMP Securities reissued a "market outperform" rating and set a $100.00 price objective on shares of Trade Desk in a report on Tuesday, June 24th. Eight equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $98.73.

Insiders Place Their Bets

In related news, Director David B. Wells sold 28,638 shares of the firm'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 sale, the director directly owned 66,985 shares of the company's stock, valued at $5,350,761.80. This trade represents a 29.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey Terry Green sold 26,684 shares of the firm's stock in a transaction on Monday, May 12th. The shares were 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 of the company's stock, valued at $1,361,950.54. This represents a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.74% of the company's stock.

Trade Desk Price Performance

Trade Desk stock opened at $86.14 on Friday. The company has a market capitalization of $42.33 billion, a PE ratio of 105.05, a price-to-earnings-growth ratio of 3.92 and a beta of 1.36. The Trade Desk has a one year low of $42.96 and a one year high of $141.53. The business has a 50 day simple moving average of $74.50 and a 200 day simple moving average of $75.57.

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 firm had revenue of $616.02 million during the quarter, compared to analysts' expectations of $575.62 million. During the same period last year, the firm posted $0.26 EPS. The business's revenue was up 25.4% on a year-over-year basis. Equities analysts anticipate 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.

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