The Trade Desk (NASDAQ:TTD) Shares Purchased by Zevenbergen Capital Investments LLC

Key Points

• Zevenbergen Capital Investments LLC increased its stake in The Trade Desk by 3.7%, acquiring an additional 77,890 shares during the first quarter, bringing its total holdings to over 2.1 million shares.
• The Trade Desk reported $694.04 million in revenue for the recent quarter, surpassing analysts' expectations, but missed earnings per share estimates by $0.01.
• Currently, The Trade Desk has an average rating of "Moderate Buy" from analysts, with price targets ranging from $45.00 to $100.00.

Zevenbergen Capital Investments LLC grew its position in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,169,273 shares of the technology company's stock after buying an additional 77,890 shares during the quarter. Trade Desk makes up about 2.9% of Zevenbergen Capital Investments LLC's investment portfolio, making the stock its 11th largest holding. Zevenbergen Capital Investments LLC owned approximately 0.44% of Trade Desk worth $118,703,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Trade Desk by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 44,237,745 shares of the technology company's stock valued at $2,420,689,000 after purchasing an additional 1,567,491 shares during the period. Brown Advisory Inc. boosted its stake in shares of Trade Desk by 198.4% during the 1st quarter. Brown Advisory Inc. now owns 8,102,294 shares of the technology company's stock worth $443,358,000 after buying an additional 5,387,339 shares during the last quarter. Bank of America Corp DE lifted its stake in Trade Desk by 13.2% in the 4th quarter. Bank of America Corp DE now owns 3,591,849 shares of the technology company's stock valued at $422,150,000 after purchasing an additional 418,911 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position 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 acquiring an additional 99,634 shares during the last quarter. Finally, Northern Trust Corp lifted its position 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 acquiring an additional 439,725 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors.

Trade Desk Trading Down 2.0%

Trade Desk stock traded down $1.06 during mid-day trading on Monday, hitting $53.17. The company had a trading volume of 37,564,346 shares, compared to its average volume of 10,977,144. The Trade Desk has a 12-month low of $42.96 and a 12-month high of $141.53. The company's fifty day moving average is $75.87 and its 200-day moving average is $72.23. The company has a market capitalization of $26.13 billion, a price-to-earnings ratio of 64.06, a P/E/G ratio of 2.46 and a beta of 1.37.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The technology company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.24). Trade Desk had a net margin of 15.57% and a return on equity of 15.19%. The firm had revenue of $694.04 million during the quarter, compared to analyst estimates of $686.00 million. During the same period in the prior year, the company posted $0.39 earnings per share. The firm's revenue for the quarter was up 18.7% compared to the same quarter last year. As a group, sell-side analysts expect that The Trade Desk will post 1.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on TTD shares. Wedbush reissued an "outperform" rating and issued a $86.00 price objective on shares of Trade Desk in a research note on Tuesday, July 15th. Morgan Stanley lifted their price target on shares of Trade Desk from $60.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Wells Fargo & Company lowered shares of Trade Desk from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $74.00 to $68.00 in a report on Thursday, June 26th. Rosenblatt Securities reiterated a "buy" rating on shares of Trade Desk in a report on Friday. Finally, BMO Capital Markets dropped their price objective on shares of Trade Desk from $115.00 to $98.00 and set an "outperform" rating on the stock in a report on Friday. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-one have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $89.33.

Insider Activity

In other Trade Desk news, insider Jay R. Grant sold 51,290 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $91.18, for a total value of $4,676,622.20. Following the completion of the sale, the insider owned 218,246 shares in the company, valued at approximately $19,899,670.28. The trade was a 19.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David B. Wells sold 28,638 shares of the business's stock in a transaction that occurred on 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 directly owned 66,985 shares in the company, valued at approximately $5,350,761.80. The trade was a 29.95% 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 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.