Williams Jones Wealth Management LLC. Decreases Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Williams Jones Wealth Management LLC. cut its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 2.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 984,150 shares of the technology company’s stock after selling 21,787 shares during the period. Williams Jones Wealth Management LLC. owned about 0.20% of Trade Desk worth $59,945,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MetLife Investment Management LLC purchased a new position in shares of Trade Desk in the 1st quarter valued at $1,946,000. Synovus Financial Corp grew its position in shares of Trade Desk by 32.8% in the 1st quarter. Synovus Financial Corp now owns 8,079 shares of the technology company’s stock valued at $561,000 after buying an additional 1,996 shares during the last quarter. Vontobel Holding Ltd. grew its position in shares of Trade Desk by 43.0% in the 1st quarter. Vontobel Holding Ltd. now owns 14,220 shares of the technology company’s stock valued at $1,019,000 after buying an additional 4,276 shares during the last quarter. Aviva PLC grew its position in shares of Trade Desk by 8.5% in the 1st quarter. Aviva PLC now owns 103,185 shares of the technology company’s stock valued at $7,146,000 after buying an additional 8,059 shares during the last quarter. Finally, National Pension Service grew its position in shares of Trade Desk by 11.2% in the 1st quarter. National Pension Service now owns 657,768 shares of the technology company’s stock valued at $45,550,000 after buying an additional 66,179 shares during the last quarter. 68.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TTD shares. Piper Sandler lifted their target price on shares of Trade Desk from $77.00 to $100.00 in a report on Friday, July 14th. Morgan Stanley lifted their target price on shares of Trade Desk from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, July 18th. Benchmark lifted their target price on shares of Trade Desk from $38.00 to $42.00 and gave the company a “sell” rating in a report on Wednesday, August 9th. Oppenheimer lifted their target price on shares of Trade Desk from $80.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, August 10th. Finally, Redburn Partners started coverage on Trade Desk in a report on Tuesday, July 18th. They issued a “sell” rating and a $34.00 price target for the company. Three analysts have rated the stock with a sell rating, two have given a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, Trade Desk presently has a consensus rating of “Moderate Buy” and an average target price of $86.48.

Trade Desk Stock Performance

Shares of TTD stock traded down $0.42 during mid-day trading on Friday, reaching $83.89. The company’s stock had a trading volume of 2,936,934 shares, compared to its average volume of 3,046,664. The Trade Desk, Inc. has a 1-year low of $39.43 and a 1-year high of $91.85. The company has a market cap of $41.12 billion, a P/E ratio of 322.67, a PEG ratio of 7.47 and a beta of 1.72. The firm’s 50-day moving average is $81.08 and its two-hundred day moving average is $70.35.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The company had revenue of $464.25 million for the quarter, compared to the consensus estimate of $455.21 million. Trade Desk had a net margin of 7.46% and a return on equity of 6.43%. Sell-side analysts anticipate that The Trade Desk, Inc. will post 0.47 EPS for the current year.

Insiders Place Their Bets

In other Trade Desk news, insider Jay R. Grant sold 5,500 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $76.21, for a total value of $419,155.00. Following the transaction, the insider now owns 162,898 shares of the company’s stock, valued at $12,414,456.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Trade Desk news, insider Jay R. Grant sold 5,500 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $76.21, for a total value of $419,155.00. Following the transaction, the insider now directly owns 162,898 shares in the company, valued at approximately $12,414,456.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David B. Wells sold 5,000 shares of the stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $90.00, for a total value of $450,000.00. Following the completion of the transaction, the director now owns 69,070 shares in the company, valued at $6,216,300. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,623 shares of company stock valued at $6,713,208. 10.81% of the stock is currently owned by corporate insiders.

About Trade Desk

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company operates 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.