The Trade Desk, Inc. (NASDAQ:TTD) Shares Sold by Everhart Financial Group Inc.

Everhart Financial Group Inc. reduced its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 3.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,790 shares of the technology company’s stock after selling 372 shares during the period. Everhart Financial Group Inc.’s holdings in Trade Desk were worth $536,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TTD. Investment Management Corp VA ADV acquired a new position in Trade Desk in the fourth quarter valued at approximately $25,000. Rialto Wealth Management LLC acquired a new position in Trade Desk in the fourth quarter valued at approximately $26,000. Midwest Capital Advisors LLC acquired a new position in Trade Desk in the fourth quarter valued at approximately $34,000. Zions Bancorporation N.A. boosted its position in shares of Trade Desk by 148.3% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock worth $34,000 after buying an additional 175 shares during the period. Finally, Kestra Investment Management LLC acquired a new position in shares of Trade Desk during the fourth quarter worth approximately $39,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Stock Performance

NASDAQ TTD opened at $67.96 on Friday. The stock has a market capitalization of $33.40 billion, a P/E ratio of 87.13, a P/E/G ratio of 3.11 and a beta of 1.41. The Trade Desk, Inc. has a 1 year low of $42.96 and a 1 year high of $141.53. The business’s fifty day moving average is $63.73 and its two-hundred day moving average is $86.89.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The firm had revenue of $616.02 million for the quarter, compared to analysts’ expectations of $575.62 million. During the same period in the previous year, the company posted $0.26 EPS. The company’s quarterly revenue was up 25.4% compared to the same quarter last year. On average, research analysts forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Insiders Place Their Bets

In other Trade Desk news, Director David B. Wells sold 28,638 shares of Trade Desk stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the transaction, the director now directly owns 66,985 shares in the company, valued at approximately $5,350,761.80. The trade was a 29.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $2,135,520.52. Following the transaction, the chief executive officer now owns 17,018 shares in the company, valued at approximately $1,361,950.54. This represents a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TTD. Oppenheimer boosted their price objective on Trade Desk from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, May 9th. Cfra Research upgraded Trade Desk to a “moderate buy” rating in a research report on Tuesday, March 25th. UBS Group reduced their price objective on Trade Desk from $116.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Truist Financial boosted their price objective on Trade Desk from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Finally, Needham & Company LLC reissued a “buy” rating and set a $84.00 target price on shares of Trade Desk in a report on Friday, June 6th. Seven analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Trade Desk has an average rating of “Moderate Buy” and a consensus price target of $97.15.

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.