Vanguard Group Inc. Boosts Stock Position in The Trade Desk (NASDAQ:TTD)

Vanguard Group Inc. increased its position in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,237,745 shares of the technology company's stock after acquiring an additional 1,567,491 shares during the period. Vanguard Group Inc. owned about 8.92% of Trade Desk worth $2,420,689,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TTD. Brown Advisory Inc. increased its stake in Trade Desk by 198.4% during the first 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 period. Bank of America Corp DE increased its stake in Trade Desk by 13.2% during the fourth 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 period. Price T Rowe Associates Inc. MD increased its stake in Trade Desk by 3.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,375,266 shares of the technology company's stock worth $396,696,000 after purchasing an additional 99,634 shares during the period. Northern Trust Corp increased its stake in Trade Desk by 16.6% during the fourth quarter. Northern Trust Corp now owns 3,090,014 shares of the technology company's stock worth $363,169,000 after purchasing an additional 439,725 shares during the period. Finally, Nuveen Asset Management LLC increased its stake in Trade Desk by 22.6% during the fourth quarter. Nuveen Asset Management LLC now owns 2,844,036 shares of the technology company's stock worth $334,260,000 after purchasing an additional 523,627 shares during the period. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Trade Desk

In related news, Director David B. Wells sold 28,638 shares of the firm's 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 sale, the director 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 document filed with the Securities & Exchange Commission, which is available at this link. 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 completion of the sale, the chief executive officer directly owned 17,018 shares of the company's stock, valued at approximately $1,361,950.54. This trade represents a 61.06% decrease in their position. The disclosure for this sale can be found here. 10.00% of the stock is owned by company insiders.

Trade Desk Trading Down 38.6%

TTD stock opened at $54.23 on Friday. The company has a market capitalization of $26.65 billion, a P/E ratio of 65.34, a PEG ratio of 4.01 and a beta of 1.37. The Trade Desk has a twelve month low of $42.96 and a twelve month high of $141.53. The business has a 50 day simple moving average of $76.31 and a 200-day simple moving average of $73.35.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The technology company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01). Trade Desk had a net margin of 15.57% and a return on equity of 15.10%. The firm had revenue of $694.04 million during the quarter, compared to analysts' expectations of $686.00 million. During the same quarter last year, the business earned $0.39 earnings per share. The business's quarterly revenue was up 18.7% on a year-over-year basis. Research analysts predict that The Trade Desk will post 1.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TTD. Truist Financial boosted their price target on shares of Trade Desk from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Moffett Nathanson lowered shares of Trade Desk from a "neutral" rating to a "sell" rating and set a $45.00 price target on the stock. in a research note on Friday. Scotiabank cut their price target on shares of Trade Desk from $83.00 to $60.00 and set a "sector perform" rating on the stock in a research note on Friday. Rosenblatt Securities restated a "buy" rating on shares of Trade Desk in a research note on Friday. Finally, Guggenheim cut their target price on shares of Trade Desk from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, Trade Desk has an average rating of "Moderate Buy" and a consensus target price of $92.18.

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.

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