Weiss Asset Management LP Has $398,000 Stake in The Trade Desk $TTD

Weiss Asset Management LP lowered its stake in The Trade Desk (NASDAQ:TTD) by 97.1% in the first quarter, Holdings Channel reports. The fund owned 17,520 shares of the technology company’s stock after selling 592,749 shares during the quarter. Weiss Asset Management LP’s holdings in Trade Desk were worth $398,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in Trade Desk by 3.8% in the 4th quarter. Brighton Jones LLC now owns 4,586 shares of the technology company’s stock valued at $539,000 after purchasing an additional 169 shares during the last quarter. Bison Wealth LLC grew its stake in shares of Trade Desk by 24.3% during the fourth quarter. Bison Wealth LLC now owns 2,480 shares of the technology company’s stock worth $291,000 after buying an additional 485 shares during the last quarter. Woodline Partners LP grew its stake in shares of Trade Desk by 75.5% during the first quarter. Woodline Partners LP now owns 5,275 shares of the technology company’s stock worth $289,000 after buying an additional 2,269 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Trade Desk by 46.6% during the second quarter. Cerity Partners LLC now owns 59,785 shares of the technology company’s stock worth $4,304,000 after buying an additional 19,015 shares during the last quarter. Finally, AXA S.A. increased its holdings in shares of Trade Desk by 14.7% during the second quarter. AXA S.A. now owns 42,819 shares of the technology company’s stock worth $3,083,000 after buying an additional 5,487 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

Insider Transactions at Trade Desk

In other Trade Desk news, Director Samantha Jacobson sold 53,681 shares of Trade Desk stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $21.14, for a total transaction of $1,134,816.34. Following the transaction, the director directly owned 13,099 shares of the company’s stock, valued at approximately $276,912.86. The trade was a 80.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 11.41% of the stock is currently owned by corporate insiders.

Trade Desk Stock Performance

TTD stock opened at $18.91 on Wednesday. The company has a fifty day moving average price of $19.43 and a 200-day moving average price of $23.75. The company has a market capitalization of $8.89 billion, a P/E ratio of 21.49, a PEG ratio of 0.86 and a beta of 1.04. The Trade Desk has a 52-week low of $16.70 and a 52-week high of $91.45.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Thursday, May 7th. The technology company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.24). Trade Desk had a return on equity of 16.91% and a net margin of 14.57%.The business had revenue of $688.86 million for the quarter, compared to analyst estimates of $678.87 million. During the same quarter last year, the firm posted $0.33 EPS. Trade Desk’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, sell-side analysts forecast that The Trade Desk will post 1.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

TTD has been the subject of a number of research reports. Rothschild & Co Redburn assumed coverage on Trade Desk in a research note on Thursday, May 28th. They issued a “sell” rating and a $11.00 price target for the company. Piper Sandler restated a “neutral” rating and set a $24.00 price objective on shares of Trade Desk in a research report on Friday, May 8th. Evercore set a $27.00 target price on Trade Desk in a report on Friday, May 8th. Morgan Stanley set a $26.00 target price on Trade Desk in a research report on Friday, May 8th. Finally, William Blair lowered Trade Desk from an “outperform” rating to a “market perform” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty-one have given a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $33.43.

Trade Desk Profile

The Trade Desk, Inc (NASDAQ: TTD) is a technology company that provides a demand-side platform (DSP) for programmatic digital advertising. Its platform enables advertisers, agencies and other buyers to plan, purchase and measure ad inventory across digital channels, including display, video, mobile, audio, native and connected TV. By centralizing real?time bidding, audience targeting and inventory access, the company aims to help clients optimize media spend and reach audiences at scale across publishers and ad exchanges.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk grew from a focus on programmatic display into a global ad?tech provider.