Golden State Equity Partners Buys 319 Shares of The Trade Desk (NASDAQ:TTD)

by · The Cerbat Gem

Golden State Equity Partners increased its position in shares of The Trade Desk (NASDAQ:TTD – Free Report) by 4.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,376 shares of the technology company’s stock after acquiring an additional 319 shares during the quarter. Golden State Equity Partners’ holdings in Trade Desk were worth $458,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Trade Desk in the fourth quarter worth about $524,187,000. Brown Advisory Inc. grew its position in shares of Trade Desk by 3,037.0% in the 4th quarter. Brown Advisory Inc. now owns 2,714,955 shares of the technology company’s stock valued at $319,089,000 after purchasing an additional 2,628,409 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Trade Desk in the 4th quarter valued at approximately $231,570,000. Franklin Resources Inc. increased its stake in Trade Desk by 265.9% during the 4th quarter. Franklin Resources Inc. now owns 1,864,386 shares of the technology company’s stock worth $219,121,000 after purchasing an additional 1,354,891 shares in the last quarter. Finally, FMR LLC raised its holdings in Trade Desk by 44.8% during the 4th quarter. FMR LLC now owns 3,788,285 shares of the technology company’s stock worth $445,237,000 after buying an additional 1,172,082 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of Trade Desk from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday, May 9th. Oppenheimer boosted their price objective on shares of Trade Desk from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, May 9th. Stifel Nicolaus reduced their target price on shares of Trade Desk from $122.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. UBS Group dropped their price target on Trade Desk from $116.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Finally, Royal Bank Of Canada reduced their price objective on Trade Desk from $100.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Eight analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, Trade Desk presently has an average rating of “Moderate Buy” and a consensus price target of $97.03.

View Our Latest Stock Analysis on Trade Desk

Insider Buying and Selling

In other Trade Desk news, CEO Jeffrey Terry Green sold 26,684 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $80.03, for a total value of $2,135,520.52. Following the transaction, the chief executive officer now directly owns 17,018 shares of the company’s stock, valued at $1,361,950.54. This represents a 61.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $2,287,603.44. Following the sale, the director now owns 66,985 shares of the company’s stock, 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. 9.74% of the stock is owned by insiders.

Trade Desk Stock Performance

Shares of NASDAQ:TTD opened at $68.02 on Friday. The Trade Desk has a 52-week low of $42.96 and a 52-week high of $141.53. The company has a market capitalization of $33.43 billion, a P/E ratio of 82.95, a price-to-earnings-growth ratio of 3.20 and a beta of 1.41. The company has a 50-day simple moving average of $67.18 and a 200 day simple moving average of $82.84.

Trade Desk (NASDAQ:TTD – Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $575.62 million. During the same quarter in the prior year, the company earned $0.26 earnings per share. The business’s revenue for the quarter was up 25.4% compared to the same quarter last year. As a group, equities analysts forecast that The Trade Desk will post 1.06 earnings per share for the current year.

About Trade Desk

(Free Report)

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.

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