Kentucky Retirement Systems Insurance Trust Fund Buys New Stake in The Trade Desk (NASDAQ:TTD)

Kentucky Retirement Systems Insurance Trust Fund bought a new stake in The Trade Desk (NASDAQ:TTD) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,983 shares of the technology company’s stock, valued at approximately $710,000.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in Trade Desk by 3,876.8% in the first quarter. GAMMA Investing LLC now owns 91,984 shares of the technology company’s stock valued at $5,033,000 after buying an additional 89,671 shares during the last quarter. Dynamic Advisor Solutions LLC purchased a new position in Trade Desk in the first quarter valued at $995,000. IFP Advisors Inc boosted its stake in Trade Desk by 69.1% in the fourth quarter. IFP Advisors Inc now owns 10,044 shares of the technology company’s stock valued at $1,180,000 after acquiring an additional 4,104 shares in the last quarter. ARK Investment Management LLC boosted its stake in Trade Desk by 0.4% in the fourth quarter. ARK Investment Management LLC now owns 1,271,113 shares of the technology company’s stock valued at $149,394,000 after acquiring an additional 5,548 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Trade Desk by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company’s stock valued at $5,015,035,000 after acquiring an additional 253,137 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Insider Activity at Trade Desk

In other Trade Desk news, Director David B. Wells sold 28,638 shares of the stock in a transaction dated 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 transaction, the director now directly owns 66,985 shares of the company’s stock, valued at approximately $5,350,761.80. This trade represents a 29.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey Terry Green sold 26,684 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 9.72% of the stock is owned by insiders.

Trade Desk Stock Up 4.3%

Shares of NASDAQ:TTD opened at $71.84 on Wednesday. The company has a market cap of $35.31 billion, a P/E ratio of 87.61, a PEG ratio of 3.16 and a beta of 1.41. The Trade Desk has a 52 week low of $42.96 and a 52 week high of $141.53. The company has a 50-day moving average price of $66.40 and a 200 day moving average price of $83.40.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. The firm had revenue of $616.02 million during the quarter, compared to the consensus estimate of $575.62 million. Trade Desk had a net margin of 16.04% and a return on equity of 15.41%. The firm’s revenue was up 25.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.26 earnings per share. Analysts expect that The Trade Desk will post 1.06 EPS for the current year.

Analysts Set New Price Targets

TTD has been the subject of several research analyst reports. Royal Bank Of Canada decreased their price objective on shares of Trade Desk from $100.00 to $85.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. JMP Securities restated a “market outperform” rating and issued a $100.00 price objective on shares of Trade Desk in a research note on Tuesday. Macquarie upped their price objective on shares of Trade Desk from $90.00 to $92.00 and gave the company an “outperform” rating in a research note on Monday, May 19th. Stifel Nicolaus decreased their price objective on shares of Trade Desk from $122.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Finally, HSBC set a $75.00 price objective on shares of Trade Desk and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Seven research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $97.15.

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.