Wealth Effects LLC Buys 6,684 Shares of The Trade Desk (NASDAQ:TTD)

Wealth Effects LLC lifted its stake in shares of The Trade Desk (NASDAQ:TTD) by 11.5% during the first quarter, Holdings Channel reports. The firm owned 64,742 shares of the technology company’s stock after purchasing an additional 6,684 shares during the quarter. Trade Desk makes up approximately 1.5% of Wealth Effects LLC’s portfolio, making the stock its 10th largest holding. Wealth Effects LLC’s holdings in Trade Desk were worth $3,543,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Investment Management Corp VA ADV acquired a new position in Trade Desk during the fourth quarter valued at $25,000. Rialto Wealth Management LLC acquired a new position in Trade Desk during the fourth quarter valued at $26,000. Zions Bancorporation N.A. raised its position in Trade Desk by 148.3% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after buying an additional 175 shares during the period. Alpine Bank Wealth Management acquired a new position in Trade Desk during the first quarter valued at $35,000. Finally, Pinnacle Bancorp Inc. raised its position in Trade Desk by 143.5% during the first quarter. Pinnacle Bancorp Inc. now owns 728 shares of the technology company’s stock valued at $40,000 after buying an additional 429 shares during the period. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Stock Down 2.8%

Shares of NASDAQ:TTD opened at $69.80 on Thursday. The business has a 50 day moving average price of $66.83 and a 200 day moving average price of $83.30. The Trade Desk has a twelve month low of $42.96 and a twelve month high of $141.53. The company has a market cap of $34.30 billion, a price-to-earnings ratio of 85.12, a PEG ratio of 3.30 and a beta of 1.41.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.07. Trade Desk had a return on equity of 15.41% and a net margin of 16.04%. The firm had revenue of $616.02 million during the quarter, compared to the consensus estimate of $575.62 million. During the same quarter in the prior year, the company earned $0.26 EPS. The firm’s revenue for the quarter was up 25.4% compared to the same quarter last year. Analysts anticipate that The Trade Desk will post 1.06 EPS for the current year.

Insider Activity at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 26,684 shares of the firm’s stock in a transaction that occurred 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 now owns 17,018 shares in the company, valued at approximately $1,361,950.54. This trade represents a 61.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David B. Wells sold 28,638 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total value of $2,287,603.44. Following the completion of the sale, the director now owns 66,985 shares of the company’s stock, valued at $5,350,761.80. This represents a 29.95% decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Royal Bank Of Canada dropped their price target on Trade Desk from $100.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Citizens Jmp dropped their target price on Trade Desk from $115.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, May 9th. HSBC set a $75.00 target price on Trade Desk and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Stifel Nicolaus dropped their target price on Trade Desk from $122.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Finally, KeyCorp upped their target price on Trade Desk from $67.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Seven investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $97.15.

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.