Assetmark Inc. Cuts Holdings in The Trade Desk (NASDAQ:TTD)

Assetmark Inc. reduced its stake in The Trade Desk (NASDAQ:TTD) by 65.3% during the first quarter, Holdings Channel.com reports. The firm owned 29,322 shares of the technology company’s stock after selling 55,209 shares during the quarter. Assetmark Inc.’s holdings in Trade Desk were worth $1,604,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Investment Management Corp VA ADV purchased a new position in Trade Desk in the fourth quarter worth about $25,000. Park Square Financial Group LLC purchased a new position in shares of Trade Desk during the fourth quarter valued at approximately $47,000. BNP Paribas purchased a new position in shares of Trade Desk during the fourth quarter valued at approximately $50,000. Banque Transatlantique SA purchased a new position in shares of Trade Desk during the fourth quarter valued at approximately $56,000. Finally, Fourth Dimension Wealth LLC purchased a new position in shares of Trade Desk during the fourth quarter valued at approximately $56,000. 67.77% of the stock is owned by institutional investors.

Trade Desk Stock Performance

Shares of TTD opened at $86.42 on Thursday. The company has a market capitalization of $42.47 billion, a price-to-earnings ratio of 105.39, a PEG ratio of 3.84 and a beta of 1.36. The company’s 50 day simple moving average is $74.89 and its 200 day simple moving average is $75.11. The Trade Desk has a 1 year low of $42.96 and a 1 year high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. The firm had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. Trade Desk had a net margin of 16.04% and a return on equity of 15.41%. The firm’s revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.26 EPS. Equities analysts expect that The Trade Desk will post 1.06 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Guggenheim dropped their target price on Trade Desk from $110.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Morgan Stanley lifted their price target on shares of Trade Desk from $60.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. UBS Group reaffirmed a “buy” rating and set a $105.00 price target (up previously from $80.00) on shares of Trade Desk in a research note on Wednesday, July 16th. Truist Financial boosted their price objective on shares of Trade Desk from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Finally, Oppenheimer upped their price target on Trade Desk from $80.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday. One research 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 company’s stock. According to data from MarketBeat, Trade Desk currently has an average rating of “Moderate Buy” and an average target price of $99.64.

Insider Activity

In other Trade Desk news, CEO Jeffrey Terry Green sold 26,684 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David B. Wells sold 28,638 shares of the business’s 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 sale, the director owned 66,985 shares in the company, valued at $5,350,761.80. This trade represents a 29.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.00% of the company’s stock.

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.