Victory Capital Management Inc. Reduces Holdings in The Trade Desk (NASDAQ:TTD)

Victory Capital Management Inc. lowered its holdings in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 29.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 951,341 shares of the technology company's stock after selling 398,524 shares during the period. Victory Capital Management Inc. owned about 0.19% of Trade Desk worth $52,057,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TTD. Investment Management Corp VA ADV acquired a new stake in Trade Desk in the fourth quarter worth $25,000. Zions Bancorporation N.A. lifted its stake in shares of Trade Desk by 148.3% in the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock valued at $34,000 after buying an additional 175 shares in the last quarter. Park Square Financial Group LLC bought a new position in shares of Trade Desk during the fourth quarter valued at about $47,000. BNP Paribas bought a new position in shares of Trade Desk during the fourth quarter valued at about $50,000. Finally, Banque Transatlantique SA bought a new position in shares of Trade Desk during the fourth quarter valued at about $56,000. Institutional investors own 67.77% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Citizens Jmp lowered their price objective on shares of Trade Desk from $115.00 to $100.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Citigroup reissued a "buy" rating on shares of Trade Desk in a research note on Tuesday. JMP Securities reissued a "market outperform" rating and issued a $100.00 price target on shares of Trade Desk in a research note on Tuesday, June 24th. Wells Fargo & Company lowered shares of Trade Desk from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $74.00 to $68.00 in a report on Thursday, June 26th. Finally, Macquarie boosted their price objective on shares of Trade Desk from $90.00 to $92.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Eight equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat.com, Trade Desk presently has an average rating of "Moderate Buy" and an average target price of $98.48.

Insiders Place Their Bets

In related news, CEO Jeffrey Terry Green sold 26,684 shares of Trade Desk stock in a transaction dated Monday, May 12th. The stock was 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 in the company, valued at $1,361,950.54. The trade was 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 the SEC website. Also, Director David B. Wells sold 28,638 shares of Trade Desk 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 of the company's stock, valued at $5,350,761.80. The trade was a 29.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.74% of the stock is owned by company insiders.

Trade Desk Trading Down 1.5%

NASDAQ TTD traded down $1.23 on Friday, reaching $80.21. 11,384,941 shares of the stock were exchanged, compared to its average volume of 7,146,674. The Trade Desk has a one year low of $42.96 and a one year high of $141.53. The firm has a market capitalization of $39.42 billion, a PE ratio of 97.82, a PEG ratio of 3.68 and a beta of 1.36. The company's 50-day simple moving average is $73.96 and its two-hundred day simple moving average is $76.90.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $575.62 million. During the same period last year, the firm posted $0.26 EPS. The company's revenue was up 25.4% on a year-over-year basis. Sell-side analysts forecast that The Trade Desk will post 1.06 earnings per share for the current fiscal year.

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.