Wealthfront Advisers LLC Purchases 29,679 Shares of The Trade Desk (NASDAQ:TTD)

Wealthfront Advisers LLC increased its stake in The Trade Desk (NASDAQ:TTD) by 70.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,981 shares of the technology company’s stock after acquiring an additional 29,679 shares during the quarter. Wealthfront Advisers LLC’s holdings in Trade Desk were worth $3,939,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TTD. Douglass Winthrop Advisors LLC lifted its position in Trade Desk by 2.7% during the fourth quarter. Douglass Winthrop Advisors LLC now owns 4,464 shares of the technology company’s stock valued at $525,000 after buying an additional 117 shares during the period. Anchor Investment Management LLC lifted its holdings in Trade Desk by 17.2% in the 4th quarter. Anchor Investment Management LLC now owns 1,020 shares of the technology company’s stock worth $120,000 after purchasing an additional 150 shares in the last quarter. Brighton Jones LLC raised its holdings in shares of Trade Desk by 3.8% during the 4th quarter. Brighton Jones LLC now owns 4,586 shares of the technology company’s stock worth $539,000 after acquiring an additional 169 shares in the last quarter. Zions Bancorporation N.A. increased its position in shares of Trade Desk by 148.3% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after purchasing an additional 175 shares during the last quarter. Finally, Interchange Capital Partners LLC grew its position in Trade Desk by 4.4% in the 4th quarter. Interchange Capital Partners LLC now owns 4,202 shares of the technology company’s stock valued at $494,000 after acquiring an additional 179 shares during the last quarter. Institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Performance

Shares of Trade Desk stock opened at $81.44 on Friday. The firm has a 50-day simple moving average of $73.78 and a two-hundred day simple moving average of $77.44. The Trade Desk has a fifty-two week low of $42.96 and a fifty-two week high of $141.53. The company has a market cap of $40.02 billion, a P/E ratio of 99.32, a price-to-earnings-growth ratio of 3.72 and a beta of 1.36.

Trade Desk (NASDAQ:TTD) last released its earnings results 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 firm had revenue of $616.02 million during the quarter, compared to the consensus estimate of $575.62 million. During the same period in the previous year, the firm earned $0.26 earnings per share. Trade Desk’s revenue was up 25.4% compared to the same quarter last year. Equities research analysts forecast that The Trade Desk will post 1.06 EPS for the current year.

Insider Transactions at Trade Desk

In other news, Director David B. Wells sold 28,638 shares of the firm’s stock in a transaction 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 completion of the sale, the director directly owned 66,985 shares of the company’s stock, valued at $5,350,761.80. This trade represents a 29.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jeffrey Terry Green sold 26,684 shares of the company’s stock in a transaction on 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 approximately $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. 9.74% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TTD shares. Wells Fargo & Company cut Trade Desk from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $74.00 to $68.00 in a research note on Thursday, June 26th. Piper Sandler increased their target price on Trade Desk from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Jefferies Financial Group set a $125.00 target price on Trade Desk and gave the company a “buy” rating in a research note on Tuesday, April 29th. Evercore ISI raised Trade Desk from an “in-line” rating to an “outperform” rating and set a $90.00 price target on the stock in a report on Friday, June 27th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $84.00 price objective on shares of Trade Desk in a report on Friday, June 6th. Eight research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat.com, Trade Desk has an average rating of “Moderate Buy” and a consensus price target of $98.48.

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.