Jefferies Financial Group Inc. Cuts Stake in The Trade Desk (NASDAQ:TTD)

Jefferies Financial Group Inc. lowered its position in The Trade Desk (NASDAQ:TTD) by 63.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,944 shares of the technology company’s stock after selling 31,748 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Trade Desk were worth $982,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC increased its holdings in shares of Trade Desk by 3.8% in the fourth quarter. Brighton Jones LLC now owns 4,586 shares of the technology company’s stock valued at $539,000 after purchasing an additional 169 shares during the period. Resona Asset Management Co. Ltd. purchased a new stake in Trade Desk in the 4th quarter valued at approximately $14,843,000. Aviva PLC raised its stake in shares of Trade Desk by 51.7% during the 4th quarter. Aviva PLC now owns 270,135 shares of the technology company’s stock worth $31,749,000 after buying an additional 92,110 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Trade Desk by 16.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 877,984 shares of the technology company’s stock worth $103,189,000 after acquiring an additional 125,440 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of Trade Desk by 83.1% during the 4th quarter. Russell Investments Group Ltd. now owns 499,602 shares of the technology company’s stock valued at $59,175,000 after acquiring an additional 226,773 shares during the period. 67.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TTD shares. Morgan Stanley upped their target price on shares of Trade Desk from $60.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Macquarie boosted their price objective on Trade Desk from $90.00 to $92.00 and gave the stock an “outperform” rating in a research note on Monday, May 19th. Oppenheimer upped their price objective on shares of Trade Desk from $80.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, July 29th. Truist Financial raised their target price on Trade Desk from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Finally, Rosenblatt Securities upped their price target on shares of Trade Desk from $77.00 to $78.00 and gave the company a “buy” rating in a report on Friday, June 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $98.73.

Trade Desk Stock Performance

Shares of TTD opened at $89.76 on Tuesday. The company has a market capitalization of $44.11 billion, a PE ratio of 109.46, a PEG ratio of 3.91 and a beta of 1.37. The company’s 50 day moving average price is $75.95 and its 200 day moving average price is $73.88. The Trade Desk has a 52 week low of $42.96 and a 52 week high of $141.53.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.26 by $0.07. Trade Desk had a net margin of 16.04% and a return on equity of 15.41%. The business 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. Trade Desk’s revenue was up 25.4% on a year-over-year basis. On average, equities analysts forecast that The Trade Desk will post 1.06 earnings per share for the current fiscal year.

Insider Transactions at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 26,684 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 17,018 shares of the company’s stock, valued at $1,361,950.54. This represents a 61.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 directly owned 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. Insiders own 10.00% of the company’s stock.

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.