Transcend Capital Advisors LLC Acquires 3,633 Shares of The Trade Desk (NASDAQ:TTD)

Transcend Capital Advisors LLC increased its stake in The Trade Desk (NASDAQ:TTD - Free Report) by 59.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,779 shares of the technology company's stock after purchasing an additional 3,633 shares during the quarter. Transcend Capital Advisors LLC's holdings in Trade Desk were worth $535,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in Trade Desk by 3.8% during the 4th quarter. Brighton Jones LLC now owns 4,586 shares of the technology company's stock valued at $539,000 after acquiring an additional 169 shares during the period. Amalgamated Bank raised its holdings in Trade Desk by 1.8% during the 4th quarter. Amalgamated Bank now owns 30,070 shares of the technology company's stock valued at $3,534,000 after acquiring an additional 537 shares during the period. Lake Street Advisors Group LLC raised its holdings in Trade Desk by 9.4% during the 4th quarter. Lake Street Advisors Group LLC now owns 2,231 shares of the technology company's stock valued at $262,000 after acquiring an additional 192 shares during the period. Whipplewood Advisors LLC bought a new stake in Trade Desk during the 4th quarter valued at $87,000. Finally, Proficio Capital Partners LLC bought a new stake in Trade Desk during the 4th quarter valued at $23,484,000. Institutional investors own 67.77% of the company's stock.

Insider Activity

In related news, Director David B. Wells sold 28,638 shares of the stock in a transaction dated 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 transaction, the director now directly owns 66,985 shares of the company's stock, valued at $5,350,761.80. This represents a 29.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey Terry Green sold 26,684 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 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. Insiders own 9.74% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TTD shares. JMP Securities reissued a "market outperform" rating and set a $100.00 target price on shares of Trade Desk in a report on Tuesday, June 24th. Piper Sandler boosted their price target on shares of Trade Desk from $55.00 to $65.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. DA Davidson reduced their price target on shares of Trade Desk from $103.00 to $92.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Morgan Stanley boosted their price target on shares of Trade Desk from $60.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Finally, Rosenblatt Securities boosted their price target on shares of Trade Desk from $77.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Eight equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat.com, Trade Desk currently has an average rating of "Moderate Buy" and an average price target of $97.03.

Trade Desk Price Performance

NASDAQ TTD traded up $1.31 during trading on Friday, hitting $69.33. 9,286,937 shares of the company's stock traded hands, compared to its average volume of 6,318,094. The firm has a market cap of $34.07 billion, a P/E ratio of 84.55, a PEG ratio of 3.18 and a beta of 1.41. The stock has a fifty day moving average of $67.56 and a two-hundred day moving average of $82.05. The Trade Desk has a 12-month low of $42.96 and a 12-month high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.26 by $0.07. The firm had revenue of $616.02 million during the quarter, compared to the consensus estimate of $575.62 million. Trade Desk had a net margin of 16.04% and a return on equity of 15.41%. The company's quarterly revenue was up 25.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.26 earnings per share. As a group, analysts expect 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.