PNC Financial Services Group Inc. Raises Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

PNC Financial Services Group Inc. boosted its position in The Trade Desk, Inc. (NASDAQ:TTD) by 1.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 54,754 shares of the technology company’s stock after acquiring an additional 736 shares during the period. PNC Financial Services Group Inc.’s holdings in Trade Desk were worth $3,940,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Level Financial Advisors Inc. raised its holdings in shares of Trade Desk by 50.0% during the fourth quarter. Level Financial Advisors Inc. now owns 450 shares of the technology company’s stock valued at $32,000 after acquiring an additional 150 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Trade Desk by 889.4% in the 4th quarter. Jones Financial Companies Lllp now owns 465 shares of the technology company’s stock worth $33,000 after purchasing an additional 418 shares in the last quarter. Ancora Advisors LLC lifted its position in shares of Trade Desk by 56.5% in the 3rd quarter. Ancora Advisors LLC now owns 485 shares of the technology company’s stock worth $38,000 after purchasing an additional 175 shares during the period. Anchor Investment Management LLC bought a new stake in shares of Trade Desk during the 4th quarter valued at about $42,000. Finally, Blue Trust Inc. increased its position in shares of Trade Desk by 134.3% during the fourth quarter. Blue Trust Inc. now owns 628 shares of the technology company’s stock valued at $49,000 after buying an additional 360 shares during the period. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Insider Activity at Trade Desk

In other news, CEO Jeffrey Terry Green sold 66,007 shares of the stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $87.38, for a total value of $5,767,691.66. Following the completion of the sale, the chief executive officer now directly owns 1,051,622 shares of the company’s stock, valued at $91,890,730.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Jeffrey Terry Green sold 66,007 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $87.38, for a total transaction of $5,767,691.66. Following the completion of the sale, the chief executive officer now owns 1,051,622 shares in the company, valued at $91,890,730.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Laura Schenkein sold 43,705 shares of Trade Desk stock in a transaction that occurred 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 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. In the last ninety days, insiders sold 337,312 shares of company stock worth $29,287,441. 10.18% of the stock is owned by company insiders.

Trade Desk Price Performance

TTD stock opened at $99.25 on Thursday. The stock’s fifty day moving average price is $90.08 and its 200-day moving average price is $81.06. The company has a market cap of $48.55 billion, a P/E ratio of 248.13, a price-to-earnings-growth ratio of 5.23 and a beta of 1.49. The Trade Desk, Inc. has a 1 year low of $60.23 and a 1 year high of $99.54.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. The firm 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%. As a group, analysts expect that The Trade Desk, Inc. will post 0.83 earnings per share for the current year.

Analysts Set New Price Targets

TTD has been the topic of a number of research analyst reports. Stifel Nicolaus upped their target price on Trade Desk from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Jefferies Financial Group upgraded Trade Desk from a “hold” rating to a “buy” rating and increased their price objective for the stock from $95.00 to $105.00 in a report on Thursday, May 2nd. Royal Bank of Canada boosted their target price on shares of Trade Desk from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. Citigroup increased their price target on shares of Trade Desk from $110.00 to $112.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Finally, Wedbush assumed coverage on shares of Trade Desk in a research note on Monday. They set an “outperform” rating and a $110.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, Trade Desk has a consensus rating of “Moderate Buy” and an average target price of $93.69.

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.