MFA Wealth Advisors LLC Acquires New Position in The Trade Desk, Inc. (NASDAQ:TTD)

MFA Wealth Advisors LLC bought a new stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 500 shares of the technology company’s stock, valued at approximately $49,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global Assets Advisory LLC bought a new position in shares of Trade Desk in the first quarter worth approximately $2,626,000. Franklin Resources Inc. raised its holdings in Trade Desk by 15.7% in the 4th quarter. Franklin Resources Inc. now owns 393,907 shares of the technology company’s stock worth $28,346,000 after acquiring an additional 53,441 shares during the last quarter. Nordea Investment Management AB raised its holdings in Trade Desk by 11.4% in the 1st quarter. Nordea Investment Management AB now owns 683,642 shares of the technology company’s stock worth $60,202,000 after acquiring an additional 70,201 shares during the last quarter. Nicholas Company Inc. raised 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 valued at $55,872,000 after buying an additional 305,615 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp purchased a new stake in Trade Desk during the 1st quarter valued at $3,011,000. Institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Performance

NASDAQ:TTD traded up $2.22 during mid-day trading on Wednesday, hitting $104.36. 2,086,459 shares of the company’s stock traded hands, compared to its average volume of 4,154,063. The company has a fifty day moving average of $96.13 and a 200 day moving average of $89.06. The Trade Desk, Inc. has a twelve month low of $60.23 and a twelve month high of $104.44. The company has a market capitalization of $51.30 billion, a P/E ratio of 260.91, a P/E/G ratio of 5.14 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) 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 company 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 company posted $0.07 EPS. The firm’s quarterly revenue was up 25.9% compared to the same quarter last year. On average, research analysts expect that The Trade Desk, Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Laura Schenkein sold 43,705 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 703,038 shares of the company’s stock, valued at $67,055,764.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jay R. Grant sold 141,434 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $97.42, for a total value of $13,778,500.28. Following the sale, the insider now owns 188,236 shares in the company, valued at $18,337,951.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Laura Schenkein sold 43,705 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 703,038 shares in the company, valued at approximately $67,055,764.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 223,517 shares of company stock valued at $21,783,981. Company insiders own 10.18% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TTD shares. Macquarie reiterated an “outperform” rating and set a $115.00 target price on shares of Trade Desk in a research note on Friday, August 9th. Stifel Nicolaus reiterated a “buy” rating and set a $111.00 target price (up from $105.00) on shares of Trade Desk in a research note on Friday, August 9th. Benchmark boosted their target price on shares of Trade Desk from $49.00 to $57.00 and gave the company a “sell” rating in a research note on Friday, August 9th. Evercore ISI upgraded shares of Trade Desk to a “strong-buy” rating in a research note on Tuesday, August 6th. Finally, Morgan Stanley boosted their target price on shares of Trade Desk from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. One investment analyst has 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $107.26.

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.