The Trade Desk (NASDAQ:TTD) Shares Sold by Vestcor Inc

Vestcor Inc lowered its position in The Trade Desk (NASDAQ:TTD) by 10.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,828 shares of the technology company’s stock after selling 879 shares during the quarter. Vestcor Inc’s holdings in Trade Desk were worth $428,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV acquired a new stake in shares of Trade Desk in the 4th quarter valued at about $25,000. Banque Cantonale Vaudoise acquired a new stake in shares of Trade Desk in the 1st quarter valued at about $26,000. Cloud Capital Management LLC acquired a new stake in shares of Trade Desk in the 1st quarter valued at about $27,000. von Borstel & Associates Inc. acquired a new stake in shares of Trade Desk in the 1st quarter valued at about $31,000. Finally, Alpine Bank Wealth Management acquired a new stake in shares of Trade Desk in the 1st quarter valued at about $35,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Insider Activity at Trade Desk

In other news, Director David B. Wells sold 28,638 shares of the 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 transaction, the director directly owned 66,985 shares in the company, valued at $5,350,761.80. This trade represents a 29.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jeffrey Terry Green sold 26,684 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 17,018 shares of the company’s stock, valued at $1,361,950.54. This trade represents a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TTD shares. Oppenheimer upped their target price on shares of Trade Desk from $80.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, July 29th. DA Davidson cut their target price on shares of Trade Desk from $103.00 to $92.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Citizens Jmp cut their target price on shares of Trade Desk from $115.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, May 9th. Jefferies Financial Group set a $125.00 target price on shares of Trade Desk and gave the company a “buy” rating in a research note on Tuesday, April 29th. Finally, Rosenblatt Securities upped their target price on shares of Trade Desk from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, June 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $100.09.

Trade Desk Price Performance

Trade Desk stock opened at $86.08 on Monday. The firm has a 50 day simple moving average of $75.63 and a 200-day simple moving average of $74.12. The stock has a market capitalization of $42.30 billion, a PE ratio of 104.98, a price-to-earnings-growth ratio of 3.91 and a beta of 1.37. The Trade Desk has a 12-month low of $42.96 and a 12-month high of $141.53.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data 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 during 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 was up 25.4% on a year-over-year basis. During the same period last year, the firm posted $0.26 earnings per share. On average, analysts forecast that The Trade Desk will post 1.06 earnings per share for the current fiscal year.

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.