Charles Schwab Investment Management Inc. Raises Stock Position in The Trade Desk (NASDAQ:TTD)

Charles Schwab Investment Management Inc. lifted its stake in shares of The Trade Desk (NASDAQ:TTD) by 5.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,985,284 shares of the technology company’s stock after acquiring an additional 110,145 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.40% of Trade Desk worth $108,635,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Anchor Investment Management LLC increased its holdings in Trade Desk by 17.2% during the fourth quarter. Anchor Investment Management LLC now owns 1,020 shares of the technology company’s stock valued at $120,000 after buying an additional 150 shares during the period. Brighton Jones LLC grew its holdings in Trade Desk by 3.8% in the fourth quarter. Brighton Jones LLC now owns 4,586 shares of the technology company’s stock worth $539,000 after purchasing an additional 169 shares during the last quarter. Peterson Wealth Services grew its holdings in Trade Desk by 2.2% in the first quarter. Peterson Wealth Services now owns 8,992 shares of the technology company’s stock worth $492,000 after purchasing an additional 190 shares during the last quarter. Prosperity Consulting Group LLC grew its holdings in Trade Desk by 2.6% in the fourth quarter. Prosperity Consulting Group LLC now owns 7,834 shares of the technology company’s stock worth $921,000 after purchasing an additional 200 shares during the last quarter. Finally, Cornerstone Wealth Management LLC grew its holdings in Trade Desk by 5.1% in the first quarter. Cornerstone Wealth Management LLC now owns 4,204 shares of the technology company’s stock worth $230,000 after purchasing an additional 205 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on TTD. JMP Securities reaffirmed a “market outperform” rating and issued a $100.00 price target on shares of Trade Desk in a report on Tuesday, June 24th. Wells Fargo & Company lowered shares of Trade Desk from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $74.00 to $68.00 in a report on Thursday, June 26th. BMO Capital Markets set a $98.00 price target on shares of Trade Desk and gave the stock an “outperform” rating in a report on Friday. Scotiabank lowered their price objective on shares of Trade Desk from $83.00 to $60.00 and set a “sector perform” rating for the company in a research note on Friday. Finally, Citigroup reiterated a “neutral” rating and set a $65.00 price objective (down from $90.00) on shares of Trade Desk in a research note on Friday. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, Trade Desk presently has a consensus rating of “Moderate Buy” and an average target price of $89.33.

Insider Activity at Trade Desk

In other Trade Desk news, insider Jay R. Grant sold 51,290 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $91.18, for a total transaction of $4,676,622.20. Following the sale, the insider directly owned 218,246 shares in the company, valued at $19,899,670.28. This represents a 19.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 10.00% of the company’s stock.

Trade Desk Price Performance

NASDAQ:TTD opened at $53.17 on Tuesday. The company’s 50-day moving average is $75.87 and its two-hundred day moving average is $72.23. The Trade Desk has a 1-year low of $42.96 and a 1-year high of $141.53. The firm has a market capitalization of $26.13 billion, a price-to-earnings ratio of 64.06, a PEG ratio of 2.46 and a beta of 1.37.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Thursday, August 7th. The technology company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.24). Trade Desk had a return on equity of 15.19% and a net margin of 15.57%. The company had revenue of $694.04 million during the quarter, compared to analyst estimates of $686.00 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. The business’s revenue was up 18.7% compared to the same quarter last year. As a group, equities analysts anticipate 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.