Headinvest LLC Sells 745 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Headinvest LLC cut its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 28.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,840 shares of the technology company’s stock after selling 745 shares during the quarter. Headinvest LLC’s holdings in Trade Desk were worth $216,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Lyell Wealth Management LP raised its position in shares of Trade Desk by 24.3% in the fourth quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock valued at $11,558,000 after purchasing an additional 19,204 shares during the period. Yousif Capital Management LLC raised its position in shares of Trade Desk by 5.4% in the fourth quarter. Yousif Capital Management LLC now owns 5,856 shares of the technology company’s stock valued at $688,000 after purchasing an additional 300 shares during the period. Allworth Financial LP raised its position in shares of Trade Desk by 46.3% in the fourth quarter. Allworth Financial LP now owns 5,470 shares of the technology company’s stock valued at $660,000 after purchasing an additional 1,732 shares during the period. Cherry Creek Investment Advisors Inc. raised its position in shares of Trade Desk by 10.3% in the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 52,144 shares of the technology company’s stock valued at $6,128,000 after purchasing an additional 4,878 shares during the period. Finally, Jacksonville Wealth Management LLC bought a new position in shares of Trade Desk in the fourth quarter valued at about $1,318,000. 67.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TTD shares. Wedbush restated an “outperform” rating and issued a $86.00 price target (up from $80.00) on shares of Trade Desk in a research note on Friday, May 9th. Robert W. Baird decreased their price target on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Loop Capital decreased their price target on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Jefferies Financial Group set a $125.00 price target on shares of Trade Desk and gave the company a “buy” rating in a research note on Tuesday, April 29th. Finally, Evercore ISI downgraded shares of Trade Desk from an “outperform” rating to an “inline” rating and decreased their price target for the company from $135.00 to $90.00 in a research note on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat, Trade Desk has a consensus rating of “Moderate Buy” and an average target price of $97.12.

Trade Desk Price Performance

Shares of NASDAQ TTD opened at $74.33 on Friday. The company has a 50 day simple moving average of $57.67 and a 200 day simple moving average of $92.67. The Trade Desk, Inc. has a 1 year low of $42.96 and a 1 year high of $141.53. The firm has a market cap of $36.87 billion, a PE ratio of 95.29, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results 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. The firm had revenue of $616.02 million during the quarter, compared to analysts’ expectations of $575.62 million. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The company’s revenue was up 25.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 EPS. As a group, research analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its Board of Directors has authorized a share buyback program on Wednesday, February 12th that allows the company to repurchase $564.00 million in shares. This repurchase authorization allows the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Activity at Trade Desk

In related news, CEO Jeffrey Terry Green sold 26,684 shares of the business’s stock in a transaction on 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 owns 17,018 shares in the company, valued at $1,361,950.54. The trade was a 61.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David B. Wells sold 28,638 shares of the stock in a transaction dated 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 now owns 66,985 shares of the company’s stock, valued at approximately $5,350,761.80. The trade was 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 currently owned by company insiders.

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.