Prosperity Wealth Management Inc. Acquires 8,145 Shares of The Trade Desk (NASDAQ:TTD)

Prosperity Wealth Management Inc. increased its holdings in shares of The Trade Desk (NASDAQ:TTD) by 199.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,235 shares of the technology company’s stock after purchasing an additional 8,145 shares during the quarter. Prosperity Wealth Management Inc.’s holdings in Trade Desk were worth $669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of TTD. Norges Bank bought a new position in Trade Desk in the fourth quarter valued at about $524,187,000. Brown Advisory Inc. lifted its holdings in Trade Desk by 3,037.0% in the fourth quarter. Brown Advisory Inc. now owns 2,714,955 shares of the technology company’s stock valued at $319,089,000 after acquiring an additional 2,628,409 shares during the period. Raymond James Financial Inc. bought a new position in Trade Desk in the fourth quarter valued at about $231,570,000. Franklin Resources Inc. lifted its holdings in Trade Desk by 265.9% in the fourth quarter. Franklin Resources Inc. now owns 1,864,386 shares of the technology company’s stock valued at $219,121,000 after acquiring an additional 1,354,891 shares during the period. Finally, FMR LLC lifted its holdings in Trade Desk by 44.8% in the fourth quarter. FMR LLC now owns 3,788,285 shares of the technology company’s stock valued at $445,237,000 after acquiring an additional 1,172,082 shares during the period. 67.77% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Jeffrey Terry Green sold 26,684 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was 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 directly owns 17,018 shares of the company’s stock, valued at approximately $1,361,950.54. This trade represents a 61.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David B. Wells sold 28,638 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total value 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. This represents a 29.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.72% of the company’s stock.

Trade Desk Price Performance

NASDAQ:TTD opened at $67.64 on Wednesday. The firm has a market capitalization of $33.24 billion, a price-to-earnings ratio of 82.49, a PEG ratio of 3.22 and a beta of 1.41. The Trade Desk has a 1 year low of $42.96 and a 1 year high of $141.53. The business has a 50 day simple moving average of $64.50 and a 200-day simple moving average of $85.78.

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 analyst estimates of $575.62 million. Trade Desk had a return on equity of 15.41% and a net margin of 16.04%. The company’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same period last year, the company earned $0.26 EPS. As a group, analysts expect that The Trade Desk will post 1.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Morgan Stanley upped their price target on Trade Desk from $60.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. KeyCorp upped their price target on Trade Desk from $67.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Wells Fargo & Company reduced their price target on Trade Desk from $101.00 to $72.00 and set an “overweight” rating for the company in a research report on Monday, March 31st. UBS Group reduced their price target on Trade Desk from $116.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Finally, Macquarie increased their target price on Trade Desk from $90.00 to $92.00 and gave the stock an “outperform” rating in a research report on Monday, May 19th. Seven research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat.com, Trade Desk presently has an average rating of “Moderate Buy” and an average price target of $97.15.

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.