Kingswood Wealth Advisors LLC Decreases Stock Position in The Trade Desk (NASDAQ:TTD)

Kingswood Wealth Advisors LLC reduced its position in The Trade Desk (NASDAQ:TTD) by 4.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,167 shares of the technology company’s stock after selling 272 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Trade Desk were worth $338,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TTD. Investment Management Corp VA ADV purchased a new stake in shares of Trade Desk during the 4th quarter worth approximately $25,000. Rialto Wealth Management LLC purchased a new stake in Trade Desk during the fourth quarter valued at $26,000. Midwest Capital Advisors LLC purchased a new stake in Trade Desk during the fourth quarter valued at $34,000. Zions Bancorporation N.A. raised its stake 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 purchasing an additional 175 shares in the last quarter. Finally, Kestra Investment Management LLC purchased a new stake in shares of Trade Desk during the 4th quarter valued at about $39,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on TTD shares. Macquarie upped their target price on shares of Trade Desk from $90.00 to $92.00 and gave the company an “outperform” rating in a research report on Monday, May 19th. Jefferies Financial Group set a $125.00 price objective on Trade Desk and gave the company a “buy” rating in a research report on Tuesday, April 29th. Needham & Company LLC restated a “buy” rating and set a $84.00 price target on shares of Trade Desk in a report on Friday, June 6th. Citigroup increased their price target on Trade Desk from $63.00 to $82.00 and gave the company a “buy” rating in a report on Friday, May 9th. Finally, Morgan Stanley increased their price target on Trade Desk from $60.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $97.15.

Insider Transactions at Trade Desk

In other news, 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 now owns 66,985 shares in the company, valued at approximately $5,350,761.80. The trade was a 29.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 26,684 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 17,018 shares in the company, valued at $1,361,950.54. The trade was a 61.06% decrease in their position. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

Trade Desk Stock Performance

NASDAQ TTD opened at $68.23 on Friday. The company has a market capitalization of $33.53 billion, a price-to-earnings ratio of 83.21, a price-to-earnings-growth ratio of 3.13 and a beta of 1.41. The company’s 50-day simple moving average is $65.54 and its two-hundred day simple moving average is $84.33. The Trade Desk has a one year low of $42.96 and a one 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.07. Trade Desk had a net margin of 16.04% and a return on equity of 15.41%. The company had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. During the same period last year, the company posted $0.26 earnings per share. Trade Desk’s revenue was up 25.4% compared to the same quarter last year. Equities analysts expect that The Trade Desk will post 1.06 earnings per share for the current fiscal year.

Trade Desk 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.