IFP Advisors Inc Grows Stock Position in The Trade Desk (NASDAQ:TTD)

IFP Advisors Inc grew its holdings in shares of The Trade Desk (NASDAQ:TTD) by 25.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,639 shares of the technology company’s stock after purchasing an additional 2,595 shares during the quarter. IFP Advisors Inc’s holdings in Trade Desk were worth $692,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TTD. Anchor Investment Management LLC increased its holdings in Trade Desk by 17.2% in the 4th quarter. Anchor Investment Management LLC now owns 1,020 shares of the technology company’s stock worth $120,000 after acquiring an additional 150 shares in the last quarter. Brighton Jones LLC boosted its stake in Trade Desk by 3.8% in the 4th quarter. Brighton Jones LLC now owns 4,586 shares of the technology company’s stock worth $539,000 after purchasing an additional 169 shares during the period. Zions Bancorporation N.A. boosted its stake in Trade Desk by 148.3% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock worth $34,000 after purchasing an additional 175 shares during the period. Huntington National Bank boosted its stake in Trade Desk by 11.2% in the 4th quarter. Huntington National Bank now owns 1,923 shares of the technology company’s stock worth $226,000 after purchasing an additional 194 shares during the period. Finally, Prosperity Consulting Group LLC boosted its stake in Trade Desk by 2.6% in the 4th quarter. Prosperity Consulting Group LLC now owns 7,834 shares of the technology company’s stock worth $921,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Insider Buying and Selling at Trade Desk

In other news, CEO Jeffrey Terry Green sold 26,684 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer owned 17,018 shares in the company, valued at approximately $1,361,950.54. This trade represents a 61.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David B. Wells sold 28,638 shares of the firm’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total value of $2,287,603.44. Following the transaction, the director owned 66,985 shares in the company, valued at approximately $5,350,761.80. This represents a 29.95% decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

Trade Desk Trading Up 0.4%

NASDAQ TTD opened at $85.00 on Friday. The company’s 50-day moving average price is $74.30 and its 200-day moving average price is $76.13. The stock has a market cap of $41.77 billion, a PE ratio of 103.66, a PEG ratio of 3.85 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) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, beating the consensus estimate 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 return on equity of 15.41% and a net margin of 16.04%. The business’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 earnings per share. As a group, sell-side analysts forecast that The Trade Desk will post 1.06 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on TTD. Evercore ISI upgraded Trade Desk from an “in-line” rating to an “outperform” rating and set a $90.00 price target for the company in a research note on Friday, June 27th. Guggenheim dropped their price target on Trade Desk from $110.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, May 9th. DA Davidson dropped their price target on Trade Desk from $103.00 to $92.00 and set a “buy” rating for the company in a research note on Friday, May 9th. JMP Securities restated a “market outperform” rating and issued a $100.00 price target on shares of Trade Desk in a research note on Tuesday, June 24th. Finally, Morgan Stanley upped their price target on Trade Desk from $60.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Eight research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $98.73.

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.