Covestor Ltd Sells 222 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Covestor Ltd decreased its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 9.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,088 shares of the technology company’s stock after selling 222 shares during the period. Covestor Ltd’s holdings in Trade Desk were worth $229,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Transcendent Capital Group LLC bought a new position in Trade Desk during the 2nd quarter worth about $30,000. JFS Wealth Advisors LLC raised its position in Trade Desk by 194.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 374 shares of the technology company’s stock valued at $41,000 after buying an additional 247 shares during the last quarter. Brown Lisle Cummings Inc. lifted its stake in Trade Desk by 66.7% in the 3rd quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company’s stock valued at $41,000 after acquiring an additional 150 shares in the last quarter. EdgeRock Capital LLC acquired a new position in Trade Desk during the 2nd quarter worth approximately $37,000. Finally, Quarry LP acquired a new position in Trade Desk during the 2nd quarter worth approximately $41,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TTD. Robert W. Baird increased their target price on shares of Trade Desk from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday. Moffett Nathanson began coverage on Trade Desk in a report on Monday, September 23rd. They issued a “neutral” rating and a $100.00 price objective for the company. Citigroup boosted their target price on shares of Trade Desk from $115.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Piper Sandler reiterated an “overweight” rating and issued a $140.00 price target (up previously from $110.00) on shares of Trade Desk in a research note on Friday. Finally, Stifel Nicolaus lifted their price objective on shares of Trade Desk from $111.00 to $136.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Two analysts have rated the stock with a sell rating, three have given a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Trade Desk presently has a consensus rating of “Moderate Buy” and an average target price of $120.69.

Insider Buying and Selling at Trade Desk

In related news, Director Gokul Rajaram sold 1,355 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $117.89, for a total transaction of $159,740.95. Following the sale, the director now owns 28,636 shares in the company, valued at approximately $3,375,898.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Laura Schenkein sold 3,130 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $99.33, for a total value of $310,902.90. Following the completion of the transaction, the chief financial officer now owns 693,953 shares of the company’s stock, valued at approximately $68,930,351.49. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $117.89, for a total transaction of $159,740.95. Following the sale, the director now directly owns 28,636 shares in the company, valued at $3,375,898.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,557,897 shares of company stock valued at $170,121,565 in the last ninety days. 9.72% of the stock is currently owned by company insiders.

Trade Desk Trading Down 5.6 %

Shares of TTD stock opened at $125.13 on Friday. The stock has a 50 day simple moving average of $112.83 and a 200 day simple moving average of $101.14. The Trade Desk, Inc. has a 1 year low of $60.23 and a 1 year high of $132.65. The stock has a market cap of $61.51 billion, a P/E ratio of 205.13, a price-to-earnings-growth ratio of 6.02 and a beta of 1.47.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. The company had revenue of $584.55 million for the quarter, compared to analysts’ expectations of $578.03 million. Trade Desk had a return on equity of 13.73% and a net margin of 13.34%. Trade Desk’s revenue was up 25.9% on a year-over-year basis. During the same quarter last year, the business earned $0.07 earnings per share. Analysts forecast that The Trade Desk, Inc. will post 0.86 EPS for the current year.

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.