Washington Capital Management Inc. Buys Shares of 5,200 The Trade Desk, Inc. (NASDAQ:TTD)

Washington Capital Management Inc. bought a new stake in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,200 shares of the technology company's stock, valued at approximately $285,000.

Other institutional investors also recently bought and sold shares of the company. Investment Management Corp VA ADV bought a new position in Trade Desk during the fourth quarter valued at about $25,000. Rialto Wealth Management LLC bought a new position in Trade Desk during the fourth quarter valued at about $26,000. Midwest Capital Advisors LLC bought a new position in Trade Desk during the fourth quarter valued at about $34,000. Zions Bancorporation N.A. raised its holdings in Trade Desk by 148.3% during 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. Finally, Kestra Investment Management LLC bought a new position in Trade Desk during the fourth quarter valued at about $39,000. 67.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TTD. Macquarie raised their target price on Trade Desk from $90.00 to $92.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Loop Capital dropped their price objective on Trade Desk from $145.00 to $101.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Royal Bank of Canada dropped their price objective on Trade Desk from $100.00 to $85.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Piper Sandler lifted their price objective on Trade Desk from $55.00 to $65.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Finally, Wells Fargo & Company dropped their price objective on Trade Desk from $101.00 to $72.00 and set an "overweight" rating on the stock in a research note on Monday, March 31st. Seven investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company's stock. According to data from MarketBeat, Trade Desk currently has an average rating of "Moderate Buy" and an average target price of $97.15.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, Director David B. Wells sold 28,638 shares of Trade Desk stock in a transaction that occurred 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 sale, the director now directly owns 66,985 shares of the company's stock, valued at approximately $5,350,761.80. The trade was a 29.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 26,684 shares of Trade Desk stock in a transaction that occurred 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 now directly owns 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 disclosure for this sale can be found here. Company insiders own 9.74% of the company's stock.

Trade Desk Trading Up 0.5%

NASDAQ TTD opened at $71.46 on Friday. The stock's 50 day moving average is $61.50 and its two-hundred day moving average is $88.61. The company has a market capitalization of $35.12 billion, a price-to-earnings ratio of 91.62, a PEG ratio of 3.11 and a beta of 1.41. The Trade Desk, Inc. has a 1-year low of $42.96 and a 1-year high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $616.02 million for the quarter, compared to the consensus estimate of $575.62 million. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The company's quarterly revenue was up 25.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.26 earnings per share. On average, analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its board has approved a share buyback program on Wednesday, February 12th that allows the company to buyback $564.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

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.

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