LPL Financial LLC Grows Stake in The Trade Desk (NASDAQ:TTD)

by · The Cerbat Gem

LPL Financial LLC raised its stake in The Trade Desk (NASDAQ:TTD – Free Report) by 14.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 900,457 shares of the technology company’s stock after purchasing an additional 115,332 shares during the quarter. LPL Financial LLC owned about 0.18% of Trade Desk worth $49,273,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Investment Management Corp VA ADV purchased a new stake in shares of Trade Desk during the fourth quarter worth about $25,000. Cloud Capital Management LLC purchased a new stake in shares of Trade Desk during the first quarter worth about $27,000. von Borstel & Associates Inc. purchased a new stake in shares of Trade Desk during the first quarter worth about $31,000. Alpine Bank Wealth Management purchased a new stake in shares of Trade Desk during the first quarter worth about $35,000. Finally, Pinnacle Bancorp Inc. increased its position in shares of Trade Desk by 143.5% during the first quarter. Pinnacle Bancorp Inc. now owns 728 shares of the technology company’s stock worth $40,000 after acquiring an additional 429 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Trade Desk

In related news, CEO Jeffrey Terry Green sold 26,684 shares of the business’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 transaction of $2,135,520.52. Following the sale, the chief executive officer owned 17,018 shares of the company’s stock, valued at $1,361,950.54. The trade was a 61.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David B. Wells sold 28,638 shares of the business’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 sale, the director directly owned 66,985 shares in the company, valued at approximately $5,350,761.80. The trade was a 29.95% decrease in their position. The disclosure for this sale can be found here. 10.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Macquarie boosted their price objective on Trade Desk from $90.00 to $92.00 and gave the company an “outperform” rating in a report on Monday, May 19th. Wells Fargo & Company lowered Trade Desk from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $74.00 to $68.00 in a report on Thursday, June 26th. UBS Group reissued a “buy” rating and issued a $105.00 price objective (up from $80.00) on shares of Trade Desk in a report on Wednesday, July 16th. Arete Research raised Trade Desk to a “strong sell” rating in a report on Monday. Finally, Citigroup reissued a “buy” rating on shares of Trade Desk in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.09.

Check Out Our Latest Research Report on TTD

Trade Desk Trading Up 0.6%

Shares of NASDAQ TTD opened at $86.96 on Friday. The stock has a 50 day simple moving average of $75.38 and a 200-day simple moving average of $74.97. The company has a market cap of $42.74 billion, a PE ratio of 106.05, a P/E/G ratio of 3.93 and a beta of 1.36. The Trade Desk has a 12-month low of $42.96 and a 12-month high of $141.53.

Trade Desk (NASDAQ:TTD – Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping 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 business 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 posted $0.26 earnings per share. The business’s revenue was up 25.4% on a year-over-year basis. Sell-side analysts forecast that The Trade Desk will post 1.06 earnings per share for the current fiscal year.

Trade Desk Company Profile

(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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