Congress Asset Management Co. grew its position in shares of The Trade Desk, Inc. (NASDAQ:TTD – Free Report) by 0.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 1,008,001 shares of the technology company’s stock after acquiring an additional 4,920 shares during the period. Congress Asset Management Co.’s holdings in Trade Desk were worth $110,527,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Venture Visionary Partners LLC lifted its position in Trade Desk by 33.0% during the 3rd quarter. Venture Visionary Partners LLC now owns 17,308 shares of the technology company’s stock valued at $1,898,000 after acquiring an additional 4,296 shares during the period. Nordea Investment Management AB grew its holdings in Trade Desk by 11.4% in the first quarter. Nordea Investment Management AB now owns 683,642 shares of the technology company’s stock worth $60,202,000 after purchasing an additional 70,201 shares during the period. Central Pacific Bank Trust Division bought a new position in shares of Trade Desk during the first quarter valued at approximately $1,034,000. Sei Investments Co. lifted its holdings in shares of Trade Desk by 16.3% during the first quarter. Sei Investments Co. now owns 246,188 shares of the technology company’s stock valued at $21,521,000 after purchasing an additional 34,520 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of Trade Desk by 5.8% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 93,984 shares of the technology company’s stock worth $9,179,000 after purchasing an additional 5,148 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on TTD. Benchmark raised their price objective on Trade Desk from $49.00 to $57.00 and gave the company a “sell” rating in a research report on Friday, August 9th. Needham & Company LLC lifted their price target on Trade Desk from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Bank of America began coverage on shares of Trade Desk in a research report on Wednesday, September 4th. They set a “buy” rating and a $135.00 price objective on the stock. Moffett Nathanson started coverage on shares of Trade Desk in a report on Monday, September 23rd. They set a “neutral” rating and a $100.00 price target on the stock. Finally, Loop Capital boosted their price objective on shares of Trade Desk from $109.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Trade Desk presently has a consensus rating of “Moderate Buy” and an average price target of $115.60.
Insiders Place Their Bets
In other news, Director Andrea Lee Cunningham sold 1,606 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $100.07, for a total value of $160,712.42. Following the completion of the sale, the director now directly owns 3,516 shares in the company, valued at $351,846.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Laura Schenkein sold 3,130 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $99.33, for a total transaction of $310,902.90. Following the transaction, the chief financial officer now owns 693,953 shares of the company’s stock, valued at approximately $68,930,351.49. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andrea Lee Cunningham sold 1,606 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $100.07, for a total value of $160,712.42. Following the transaction, the director now owns 3,516 shares of the company’s stock, valued at approximately $351,846.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,557,897 shares of company stock valued at $170,121,565 in the last 90 days. 10.18% of the stock is owned by insiders.
Trade Desk Stock Performance
Shares of TTD traded down $2.57 during mid-day trading on Thursday, hitting $119.41. 471,615 shares of the company were exchanged, compared to its average volume of 3,746,910. The Trade Desk, Inc. has a 1-year low of $60.23 and a 1-year high of $123.85. The stock has a market cap of $58.41 billion, a price-to-earnings ratio of 304.95, a price-to-earnings-growth ratio of 5.75 and a beta of 1.48. The company has a 50 day moving average of $109.80 and a 200-day moving average of $98.89.
Trade Desk (NASDAQ:TTD – Get Free Report) last released its earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.03. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The business had revenue of $584.55 million for the quarter, compared to the consensus estimate of $578.03 million. During the same quarter last year, the business posted $0.07 earnings per share. The business’s quarterly revenue was up 25.9% compared to the same quarter last year. Research analysts anticipate that The Trade Desk, Inc. will post 0.86 earnings per share for the current fiscal year.
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.
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