Soltis Investment Advisors LLC Raises Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Soltis Investment Advisors LLC boosted its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 16.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 4,242 shares of the technology company’s stock after purchasing an additional 605 shares during the period. Soltis Investment Advisors LLC’s holdings in Trade Desk were worth $371,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in TTD. Blue Trust Inc. boosted its holdings in Trade Desk by 134.3% during the fourth quarter. Blue Trust Inc. now owns 628 shares of the technology company’s stock worth $49,000 after buying an additional 360 shares in the last quarter. Oak Thistle LLC purchased a new stake in Trade Desk during the fourth quarter worth about $494,000. LVZ Inc. purchased a new stake in Trade Desk during the fourth quarter worth about $209,000. Ballentine Partners LLC boosted its holdings in Trade Desk by 28.7% during the fourth quarter. Ballentine Partners LLC now owns 3,605 shares of the technology company’s stock worth $259,000 after buying an additional 803 shares in the last quarter. Finally, Derbend Asset Management boosted its holdings in Trade Desk by 64.4% during the fourth quarter. Derbend Asset Management now owns 4,583 shares of the technology company’s stock worth $330,000 after buying an additional 1,795 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Trade Desk Trading Down 5.3 %

TTD traded down $4.67 during trading on Friday, hitting $83.08. 4,948,864 shares of the company’s stock were exchanged, compared to its average volume of 3,636,474. The Trade Desk, Inc. has a 1 year low of $60.23 and a 1 year high of $102.67. The stock has a 50 day moving average price of $96.20 and a 200 day moving average price of $86.40. The firm has a market cap of $40.64 billion, a P/E ratio of 207.71, a price-to-earnings-growth ratio of 4.49 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. The business had revenue of $491.25 million during the quarter, compared to the consensus estimate of $480.03 million. Trade Desk had a net margin of 9.80% and a return on equity of 9.41%. Analysts forecast that The Trade Desk, Inc. will post 0.85 earnings per share for the current fiscal year.

Insider Activity at Trade Desk

In related news, CFO Laura Schenkein sold 43,705 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $95.38, for a total transaction of $4,168,582.90. Following the completion of the sale, the chief financial officer now directly owns 703,038 shares of the company’s stock, valued at approximately $67,055,764.44. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Trade Desk news, CFO Laura Schenkein sold 43,705 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $95.38, for a total transaction of $4,168,582.90. Following the completion of the transaction, the chief financial officer now directly owns 703,038 shares of the company’s stock, valued at approximately $67,055,764.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jay R. Grant sold 141,434 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $97.42, for a total transaction of $13,778,500.28. Following the transaction, the insider now directly owns 188,236 shares of the company’s stock, valued at $18,337,951.12. The disclosure for this sale can be found here. In the last three months, insiders sold 213,909 shares of company stock valued at $20,827,601. Corporate insiders own 10.18% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on TTD shares. Stifel Nicolaus lifted their target price on shares of Trade Desk from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Morgan Stanley lifted their target price on shares of Trade Desk from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of Trade Desk in a research report on Thursday, July 25th. BMO Capital Markets restated an “outperform” rating and set a $108.00 target price (up previously from $107.00) on shares of Trade Desk in a research report on Thursday, May 9th. Finally, Truist Financial restated a “buy” rating and set a $105.00 target price on shares of Trade Desk in a research report on Thursday, May 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $101.17.

Trade Desk 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.