Patron Partners LLC purchased a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD – Free Report) 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.
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.
View Our Latest Stock Report on Trade Desk
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.
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