Parisi Gray Wealth Management Lowers Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Parisi Gray Wealth Management lessened its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 13.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,079 shares of the technology company’s stock after selling 630 shares during the quarter. Parisi Gray Wealth Management’s holdings in Trade Desk were worth $294,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TTD. NBC Securities Inc. purchased a new position in shares of Trade Desk in the third quarter valued at approximately $25,000. Catalyst Capital Advisors LLC purchased a new position in Trade Desk in the third quarter worth approximately $26,000. Cullen Frost Bankers Inc. purchased a new position in Trade Desk in the third quarter worth approximately $29,000. MUFG Americas Holdings Corp purchased a new position in Trade Desk in the third quarter worth approximately $30,000. Finally, Ancora Advisors LLC lifted its stake in Trade Desk by 56.5% in the third quarter. Ancora Advisors LLC now owns 485 shares of the technology company’s stock worth $38,000 after acquiring an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Wall Street Analysts Forecast Growth

TTD has been the subject of a number of recent research reports. Stephens reiterated an “overweight” rating and issued a $85.00 price target on shares of Trade Desk in a research note on Friday, February 16th. KeyCorp lifted their price target on shares of Trade Desk from $84.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. BMO Capital Markets lifted their price target on shares of Trade Desk from $88.00 to $107.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Truist Financial lifted their price target on shares of Trade Desk from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, Benchmark boosted their price objective on shares of Trade Desk from $32.00 to $42.00 and gave the stock a “sell” rating in a research report on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.75.

Trade Desk Price Performance

NASDAQ TTD traded up $0.73 on Thursday, hitting $87.94. 113,591 shares of the company were exchanged, compared to its average volume of 5,027,636. The company’s 50 day moving average price is $77.57 and its 200-day moving average price is $75.03. The firm has a market capitalization of $43.00 billion, a P/E ratio of 242.26, a price-to-earnings-growth ratio of 4.80 and a beta of 1.50. The Trade Desk, Inc. has a twelve month low of $57.17 and a twelve month high of $94.00.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Thursday, February 15th. The technology company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.05). The firm had revenue of $605.80 million during the quarter, compared to the consensus estimate of $582.61 million. Trade Desk had a net margin of 9.19% and a return on equity of 8.59%. As a group, equities analysts expect that The Trade Desk, Inc. will post 0.79 EPS for the current year.

Insider Transactions at Trade Desk

In related news, Director Gokul Rajaram sold 2,999 shares of the company’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $62.76, for a total value of $188,217.24. Following the completion of the transaction, the director now directly owns 36,312 shares in the company, valued at $2,278,941.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Gokul Rajaram sold 2,999 shares of the stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $62.76, for a total transaction of $188,217.24. Following the sale, the director now owns 36,312 shares in the company, valued at $2,278,941.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey Terry Green sold 75,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $85.42, for a total value of $6,406,500.00. Following the sale, the chief executive officer now owns 1,117,629 shares in the company, valued at approximately $95,467,869.18. The disclosure for this sale can be found here. Insiders sold a total of 426,562 shares of company stock worth $35,446,258 over the last three months. 10.81% of the stock is currently owned by insiders.

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.