The Trade Desk (NASDAQ:TTD) Shares Sold by Westfield Capital Management Co. LP

Key Points

• Westfield Capital Management Co. LP has reduced its stake in The Trade Desk by 1.2%, owning approximately 712,098 shares valued at about $38.97 million as of the end of the first quarter.
• The Trade Desk reported a strong quarterly earnings performance, with earnings per share of $0.33, surpassing analysts' estimates and reflecting a 25.4% year-over-year revenue increase to $616.02 million.
• Analysts have mixed views on Trade Desk stock, with a recent price target increase from Truist Financial to $100.00, while Wells Fargo downgraded its rating and lowered its target to $68.00.

Westfield Capital Management Co. LP reduced its position in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 1.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 712,098 shares of the technology company's stock after selling 8,353 shares during the quarter. Westfield Capital Management Co. LP owned about 0.14% of Trade Desk worth $38,966,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of TTD. Brighton Jones LLC lifted its holdings in Trade Desk by 3.8% during the fourth quarter. Brighton Jones LLC now owns 4,586 shares of the technology company's stock worth $539,000 after buying an additional 169 shares during the period. Resona Asset Management Co. Ltd. purchased a new stake in Trade Desk during the fourth quarter worth $14,843,000. Aviva PLC lifted its holdings in Trade Desk by 51.7% during the fourth quarter. Aviva PLC now owns 270,135 shares of the technology company's stock worth $31,749,000 after buying an additional 92,110 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Trade Desk by 16.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 877,984 shares of the technology company's stock worth $103,189,000 after buying an additional 125,440 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in Trade Desk by 83.1% during the fourth quarter. Russell Investments Group Ltd. now owns 499,602 shares of the technology company's stock worth $59,175,000 after buying an additional 226,773 shares during the period. 67.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TTD. Morgan Stanley upped their target price on Trade Desk from $60.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Arete Research upgraded Trade Desk to a "strong sell" rating in a report on Monday, July 28th. Evercore ISI upgraded Trade Desk from an "in-line" rating to an "outperform" rating and set a $90.00 target price for the company in a report on Friday, June 27th. HSBC set a $75.00 target price on Trade Desk and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Finally, Rosenblatt Securities upped their target price on Trade Desk from $77.00 to $78.00 and gave the stock a "buy" rating in a report on Friday, June 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $98.73.

Insider Transactions at Trade Desk

In other Trade Desk news, Director David B. Wells sold 28,638 shares of Trade Desk stock in a transaction dated 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 transaction, the director owned 66,985 shares in the company, valued at approximately $5,350,761.80. This trade represents a 29.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jeffrey Terry Green sold 26,684 shares of Trade Desk stock in a transaction dated 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 transaction, the chief executive officer owned 17,018 shares of the company's stock, valued at $1,361,950.54. The trade was a 61.06% decrease in their position. The disclosure for this sale can be found here. Company insiders own 10.00% of the company's stock.

Trade Desk Stock Performance

TTD stock traded down $2.06 during midday trading on Tuesday, reaching $87.70. The stock had a trading volume of 8,522,929 shares, compared to its average volume of 15,379,437. The stock has a market cap of $43.10 billion, a PE ratio of 106.95, a P/E/G ratio of 4.08 and a beta of 1.37. The firm has a fifty day simple moving average of $76.18 and a two-hundred day simple moving average of $73.98. The Trade Desk has a 52-week low of $42.96 and a 52-week high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.07. The company had revenue of $616.02 million during the quarter, compared to analyst estimates of $575.62 million. Trade Desk had a return on equity of 15.41% and a net margin of 16.04%. The firm's quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter last year, the business posted $0.26 EPS. On average, sell-side analysts predict that The Trade Desk will post 1.06 EPS 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.