The Trade Desk, Inc. (NASDAQ:TTD) Shares Sold by Balentine LLC

Balentine LLC reduced its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 30.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,004 shares of the technology company’s stock after selling 2,626 shares during the period. Balentine LLC’s holdings in Trade Desk were worth $586,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Choreo LLC raised its stake in shares of Trade Desk by 124.4% in the second quarter. Choreo LLC now owns 15,174 shares of the technology company’s stock valued at $1,486,000 after acquiring an additional 8,411 shares in the last quarter. Ballentine Partners LLC increased its holdings in Trade Desk by 14.1% during the 2nd quarter. Ballentine Partners LLC now owns 3,632 shares of the technology company’s stock worth $355,000 after purchasing an additional 449 shares during the period. Caprock Group LLC raised its position in Trade Desk by 47.5% in the 2nd quarter. Caprock Group LLC now owns 12,751 shares of the technology company’s stock valued at $1,245,000 after purchasing an additional 4,109 shares in the last quarter. Certuity LLC boosted its stake in shares of Trade Desk by 2.6% in the 2nd quarter. Certuity LLC now owns 9,916 shares of the technology company’s stock valued at $968,000 after buying an additional 251 shares during the period. Finally, Custom Index Systems LLC acquired a new position in shares of Trade Desk during the second quarter worth about $216,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Trade Desk news, CEO Jeffrey Terry Green sold 283,429 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $104.20, for a total value of $29,533,301.80. Following the sale, the chief executive officer now directly owns 380,832 shares of the company’s stock, valued at approximately $39,682,694.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Trade Desk news, CFO Laura Schenkein sold 43,705 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $95.38, for a total value of $4,168,582.90. Following the completion of the transaction, the chief financial officer now owns 703,038 shares in the company, valued at approximately $67,055,764.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey Terry Green sold 283,429 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $104.20, for a total transaction of $29,533,301.80. Following the completion of the transaction, the chief executive officer now directly owns 380,832 shares of the company’s stock, valued at $39,682,694.40. The disclosure for this sale can be found here. In the last three months, insiders sold 642,868 shares of company stock valued at $65,415,112. Company insiders own 10.18% of the company’s stock.

Trade Desk Trading Down 1.0 %

TTD stock opened at $99.32 on Tuesday. The firm has a 50 day moving average of $97.65 and a 200-day moving average of $91.67. The company has a market cap of $48.82 billion, a price-to-earnings ratio of 248.31, a PEG ratio of 4.83 and a beta of 1.47. The Trade Desk, Inc. has a 12-month low of $60.23 and a 12-month high of $105.39.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 EPS for the quarter, beating 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 business had revenue of $584.55 million for the quarter, compared to analyst estimates of $578.03 million. During the same period in the prior year, the business earned $0.07 earnings per share. The company’s quarterly revenue was up 25.9% on a year-over-year basis. Sell-side analysts forecast that The Trade Desk, Inc. will post 0.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TTD. Morgan Stanley lifted their price target on shares of Trade Desk from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. StockNews.com cut shares of Trade Desk from a “buy” rating to a “hold” rating in a research report on Saturday. BTIG Research increased their target price on Trade Desk from $110.00 to $114.00 and gave the company a “buy” rating in a report on Friday, August 9th. KeyCorp upped their price objective on Trade Desk from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Finally, Piper Sandler restated an “overweight” rating and set a $110.00 target price on shares of Trade Desk in a research note on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $108.85.

Trade Desk Company Profile

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.