Sequoia Financial Advisors LLC Decreases Stock Position in The Trade Desk (NASDAQ:TTD)

Sequoia Financial Advisors LLC cut its holdings in The Trade Desk (NASDAQ:TTD) by 5.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,522 shares of the technology company’s stock after selling 688 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Trade Desk were worth $685,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Pure Financial Advisors LLC raised its stake in Trade Desk by 11.1% in the first quarter. Pure Financial Advisors LLC now owns 4,944 shares of the technology company’s stock valued at $271,000 after buying an additional 495 shares during the last quarter. Wealth Effects LLC increased its holdings in shares of Trade Desk by 11.5% in the first quarter. Wealth Effects LLC now owns 64,742 shares of the technology company’s stock valued at $3,543,000 after purchasing an additional 6,684 shares during the period. Perigon Wealth Management LLC increased its holdings in shares of Trade Desk by 133.0% in the first quarter. Perigon Wealth Management LLC now owns 13,003 shares of the technology company’s stock valued at $712,000 after purchasing an additional 7,422 shares during the period. Alpine Bank Wealth Management acquired a new position in shares of Trade Desk in the first quarter valued at about $35,000. Finally, HBK Sorce Advisory LLC increased its holdings in shares of Trade Desk by 11.7% in the first quarter. HBK Sorce Advisory LLC now owns 6,381 shares of the technology company’s stock valued at $349,000 after purchasing an additional 667 shares during the period. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Trade Desk Trading Up 2.1%

Shares of TTD opened at $73.49 on Wednesday. The Trade Desk has a 12 month low of $42.96 and a 12 month high of $141.53. The stock’s 50 day moving average is $68.55 and its two-hundred day moving average is $81.21. The firm has a market cap of $36.12 billion, a P/E ratio of 89.62, a PEG ratio of 3.30 and a beta of 1.36.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.26 by $0.07. The company had revenue of $616.02 million for 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%. Trade Desk’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same period last year, the company earned $0.26 earnings per share. Equities research analysts forecast that The Trade Desk will post 1.06 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TTD. Jefferies Financial Group set a $125.00 price objective on Trade Desk and gave the company a “buy” rating in a report on Tuesday, April 29th. Stifel Nicolaus cut their price objective on Trade Desk from $122.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. KeyCorp increased their price objective on Trade Desk from $67.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, May 9th. JMP Securities reissued a “market outperform” rating and issued a $100.00 price objective on shares of Trade Desk in a report on Tuesday, June 24th. Finally, Rosenblatt Securities increased their price objective on Trade Desk from $77.00 to $78.00 and gave the company a “buy” rating in a report on Friday, June 6th. Eight research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.27.

Insider Buying and Selling

In other news, CEO Jeffrey Terry Green sold 26,684 shares of Trade Desk stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $80.03, for a total value of $2,135,520.52. Following the sale, the chief executive officer directly owned 17,018 shares of the company’s stock, valued at $1,361,950.54. The trade was a 61.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David B. Wells sold 28,638 shares of Trade Desk 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 completion of the sale, the director directly owned 66,985 shares in the company, 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. Insiders own 9.72% of the company’s stock.

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.