Griffin Asset Management Inc. Decreases Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Griffin Asset Management Inc. lessened its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 0.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 62,198 shares of the technology company’s stock after selling 303 shares during the period. Griffin Asset Management Inc.’s holdings in Trade Desk were worth $3,403,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TTD. Vanguard Group Inc. boosted its position in Trade Desk by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company’s stock valued at $5,015,035,000 after purchasing an additional 253,137 shares in the last quarter. Invesco Ltd. raised its stake in shares of Trade Desk by 2.6% in the fourth quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company’s stock worth $930,477,000 after purchasing an additional 198,822 shares during the last quarter. Norges Bank purchased a new position in shares of Trade Desk in the fourth quarter worth about $524,187,000. FMR LLC raised its stake in shares of Trade Desk by 44.8% in the fourth quarter. FMR LLC now owns 3,788,285 shares of the technology company’s stock worth $445,237,000 after purchasing an additional 1,172,082 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Trade Desk by 13.2% during the fourth quarter. Bank of America Corp DE now owns 3,591,849 shares of the technology company’s stock valued at $422,150,000 after acquiring an additional 418,911 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Performance

Shares of TTD opened at $67.96 on Friday. The firm has a market capitalization of $33.40 billion, a price-to-earnings ratio of 87.13, a price-to-earnings-growth ratio of 3.11 and a beta of 1.41. The Trade Desk, Inc. has a one year low of $42.96 and a one year high of $141.53. The stock’s fifty day moving average is $63.73 and its 200-day moving average is $86.89.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.07. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The business had revenue of $616.02 million during the quarter, compared to analysts’ expectations of $575.62 million. During the same quarter last year, the business posted $0.26 earnings per share. The company’s quarterly revenue was up 25.4% on a year-over-year basis. Analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

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 value of $2,135,520.52. Following the completion of the sale, the chief executive officer now owns 17,018 shares of the company’s stock, valued at approximately $1,361,950.54. The trade was a 61.06% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David B. Wells sold 28,638 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly 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 position. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

Analyst Upgrades and Downgrades

TTD has been the subject of a number of recent analyst reports. Stifel Nicolaus cut their price objective on Trade Desk from $122.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Oppenheimer boosted their price objective on Trade Desk from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, May 9th. Citigroup upped their price target on Trade Desk from $63.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, May 9th. KeyCorp increased their target price on Trade Desk from $67.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Finally, UBS Group decreased their target price 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. Seven research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat, Trade Desk presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.15.

Trade Desk Company 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.