Blue Zone Wealth Advisors LLC Cuts Position in The Trade Desk, Inc. (NASDAQ:TTD)

Blue Zone Wealth Advisors LLC trimmed its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 0.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,058 shares of the technology company’s stock after selling 266 shares during the period. Trade Desk makes up approximately 2.2% of Blue Zone Wealth Advisors LLC’s holdings, making the stock its 11th biggest holding. Blue Zone Wealth Advisors LLC’s holdings in Trade Desk were worth $6,354,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TTD. Pinnacle Bancorp Inc. boosted its stake in shares of Trade Desk by 119.9% during the 1st quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock worth $26,000 after purchasing an additional 163 shares during the period. Riverview Trust Co purchased a new stake in shares of Trade Desk during the 1st quarter valued at $27,000. Bogart Wealth LLC boosted its holdings in Trade Desk by 194.7% in the first quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock worth $29,000 after acquiring an additional 222 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Trade Desk by 889.4% in the 4th quarter. Jones Financial Companies Lllp now owns 465 shares of the technology company’s stock worth $33,000 after purchasing an additional 418 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Trade Desk during the 2nd quarter valued at approximately $43,000. 67.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TTD shares. Royal Bank of Canada boosted their price objective on shares of Trade Desk from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Friday. Piper Sandler reiterated an “overweight” rating and set a $110.00 price target on shares of Trade Desk in a research note on Tuesday, June 11th. Macquarie reaffirmed an “outperform” rating and set a $115.00 target price on shares of Trade Desk in a report on Friday. Wedbush reiterated an “outperform” rating and issued a $110.00 target price on shares of Trade Desk in a research report on Friday. Finally, Citigroup raised their price target on shares of Trade Desk from $112.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $105.51.

Insider Buying and Selling at Trade Desk

In related news, CFO Laura Schenkein sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $100.43, for a total value of $2,510,750.00. Following the transaction, the chief financial officer now directly owns 703,038 shares in the company, valued at $70,606,106.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Laura Schenkein sold 25,000 shares of Trade Desk stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $100.43, for a total value of $2,510,750.00. Following the completion of the sale, the chief financial officer now owns 703,038 shares in the company, valued at approximately $70,606,106.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 2,415 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $97.92, for a total value of $236,476.80. Following the completion of the sale, the director now directly owns 34,056 shares in the company, valued at approximately $3,334,763.52. The disclosure for this sale can be found here. Insiders have sold 213,909 shares of company stock worth $20,827,601 in the last ninety days. 10.18% of the stock is owned by insiders.

Trade Desk Price Performance

Shares of NASDAQ:TTD traded up $11.03 during midday trading on Friday, hitting $99.30. The company had a trading volume of 13,299,325 shares, compared to its average volume of 4,207,968. The Trade Desk, Inc. has a twelve month low of $60.23 and a twelve month high of $102.67. The stock has a market cap of $48.57 billion, a price-to-earnings ratio of 248.25, a price-to-earnings-growth ratio of 4.34 and a beta of 1.48. The business’s 50-day simple moving average is $95.34 and its 200-day simple moving average is $87.40.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The business had revenue of $491.25 million during the quarter, compared to the consensus estimate of $480.03 million. Trade Desk had a return on equity of 9.41% and a net margin of 9.80%. As a group, sell-side analysts forecast that The Trade Desk, Inc. will post 0.85 EPS for the current year.

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.