Patron Partners LLC Buys Shares of 2,100 The Trade Desk, Inc. (NASDAQ:TTD)

Patron Partners LLC purchased a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,100 shares of the technology company’s stock, valued at approximately $205,000.

Other institutional investors have also modified their holdings of the company. Global Assets Advisory LLC acquired a new position in Trade Desk in the 1st quarter valued at about $2,626,000. Franklin Resources Inc. boosted its stake in shares of Trade Desk by 15.7% in the fourth quarter. Franklin Resources Inc. now owns 393,907 shares of the technology company’s stock valued at $28,346,000 after purchasing an additional 53,441 shares during the period. Nordea Investment Management AB grew its holdings in shares of Trade Desk by 11.4% in the first quarter. Nordea Investment Management AB now owns 683,642 shares of the technology company’s stock valued at $60,202,000 after purchasing an additional 70,201 shares in the last quarter. Nicholas Company Inc. increased its stake in Trade Desk by 64.9% during the 4th quarter. Nicholas Company Inc. now owns 776,425 shares of the technology company’s stock worth $55,872,000 after buying an additional 305,615 shares during the period. Finally, CHURCHILL MANAGEMENT Corp acquired a new stake in Trade Desk during the 1st quarter worth approximately $3,011,000. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Stock Performance

TTD traded down $3.23 during trading on Friday, reaching $100.31. The company’s stock had a trading volume of 3,847,254 shares, compared to its average volume of 3,246,430. The Trade Desk, Inc. has a 52-week low of $60.23 and a 52-week high of $105.39. The company has a market capitalization of $49.31 billion, a price-to-earnings ratio of 250.78, a price-to-earnings-growth ratio of 5.14 and a beta of 1.48. The company’s fifty day moving average price is $97.62 and its 200-day moving average price is $91.43.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, August 8th. The technology company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.36 by $0.03. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The company had revenue of $584.55 million for the quarter, compared to analyst estimates of $578.03 million. During the same period in the previous year, the firm earned $0.07 EPS. The business’s revenue was up 25.9% on a year-over-year basis. Equities analysts predict that The Trade Desk, Inc. will post 0.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on TTD. Evercore ISI upgraded shares of Trade Desk to a “strong-buy” rating in a research note on Tuesday, August 6th. Morgan Stanley upped their price target on Trade Desk from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 price target on shares of Trade Desk in a research report on Tuesday, June 11th. Wedbush reissued an “outperform” rating and set a $110.00 price objective on shares of Trade Desk in a research report on Friday, August 9th. Finally, BTIG Research raised their target price on shares of Trade Desk from $110.00 to $114.00 and gave the company a “buy” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $108.85.

Insider Activity

In other Trade Desk news, insider Samantha Jacobson sold 4,872 shares of Trade Desk stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $99.50, for a total transaction of $484,764.00. Following the completion of the transaction, the insider now owns 99,374 shares in the company, valued at $9,887,713. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Trade Desk news, CFO Laura Schenkein sold 43,705 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $95.38, for a total value of $4,168,582.90. Following the transaction, the chief financial officer now directly owns 703,038 shares in the company, valued at approximately $67,055,764.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Samantha Jacobson sold 4,872 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $99.50, for a total transaction of $484,764.00. Following the sale, the insider now directly owns 99,374 shares in the company, valued at $9,887,713. The disclosure for this sale can be found here. In the last three months, insiders sold 642,868 shares of company stock worth $65,415,112. Company insiders own 10.18% 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.