Shelton Wealth Management LLC Raises Stock Holdings in The Trade Desk (NASDAQ:TTD)

Shelton Wealth Management LLC raised its stake in shares of The Trade Desk (NASDAQ:TTD) by 3.6% during the first quarter, Holdings Channel reports. The firm owned 13,583 shares of the technology company’s stock after buying an additional 471 shares during the quarter. Shelton Wealth Management LLC’s holdings in Trade Desk were worth $743,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Centurion Wealth Management LLC increased its position in Trade Desk by 2.6% during the 4th quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company’s stock valued at $443,000 after purchasing an additional 96 shares during the period. Lane & Associates LLC increased its position in Trade Desk by 2.6% during the 4th quarter. Lane & Associates LLC now owns 4,256 shares of the technology company’s stock valued at $505,000 after purchasing an additional 108 shares during the period. Venturi Wealth Management LLC increased its position in Trade Desk by 2.3% during the 4th quarter. Venturi Wealth Management LLC now owns 4,871 shares of the technology company’s stock valued at $572,000 after purchasing an additional 108 shares during the period. Great Lakes Advisors LLC increased its position in Trade Desk by 1.7% during the 4th quarter. Great Lakes Advisors LLC now owns 6,951 shares of the technology company’s stock valued at $817,000 after purchasing an additional 116 shares during the period. Finally, Douglass Winthrop Advisors LLC increased its position in Trade Desk by 2.7% during the 4th quarter. Douglass Winthrop Advisors LLC now owns 4,464 shares of the technology company’s stock valued at $525,000 after purchasing an additional 117 shares during the period. 67.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trade Desk

In other news, CEO Jeffrey Terry Green sold 26,684 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 17,018 shares of the company’s stock, valued at $1,361,950.54. This represents a 61.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David B. Wells sold 28,638 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 66,985 shares of the company’s stock, valued at $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.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Citigroup boosted their price objective on shares of Trade Desk from $63.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, May 9th. KeyCorp boosted their price objective on shares of Trade Desk from $67.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Morgan Stanley boosted their price objective on shares of Trade Desk from $60.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Piper Sandler boosted their target price on shares of Trade Desk from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Finally, Truist Financial boosted their target price on shares of Trade Desk from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday, May 9th. Seven investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Trade Desk presently has an average rating of “Moderate Buy” and an average target price of $97.15.

Trade Desk Price Performance

Shares of Trade Desk stock opened at $68.66 on Friday. The stock has a market cap of $33.74 billion, a price-to-earnings ratio of 83.73, a PEG ratio of 3.15 and a beta of 1.41. The firm’s 50-day moving average is $65.18 and its 200 day moving average is $85.20. The Trade Desk has a 1 year low of $42.96 and a 1 year high of $141.53.

Trade Desk (NASDAQ:TTD) last posted its 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 business had revenue of $616.02 million for the quarter, compared to analysts’ expectations of $575.62 million. Trade Desk had a net margin of 16.04% and a return on equity of 15.41%. The business’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.26 EPS. On average, equities analysts expect that The Trade Desk will post 1.06 EPS for the current fiscal year.

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.