Traynor Capital Management Inc. Increases Position in The Trade Desk, Inc. (NASDAQ:TTD)

Traynor Capital Management Inc. lifted its position in The Trade Desk, Inc. (NASDAQ:TTD) by 4.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,864 shares of the technology company’s stock after purchasing an additional 193 shares during the period. Traynor Capital Management Inc.’s holdings in Trade Desk were worth $425,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Franklin Resources Inc. boosted its holdings 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 boosted its holdings in shares of Trade Desk by 31.7% in the fourth quarter. Nordea Investment Management AB now owns 613,441 shares of the technology company’s stock valued at $44,226,000 after purchasing an additional 147,717 shares during the period. Asset Management One Co. Ltd. boosted its holdings in shares of Trade Desk by 30.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 287,352 shares of the technology company’s stock valued at $21,078,000 after purchasing an additional 67,520 shares during the period. Raymond James & Associates boosted its holdings in shares of Trade Desk by 12.8% in the fourth quarter. Raymond James & Associates now owns 252,370 shares of the technology company’s stock valued at $18,161,000 after purchasing an additional 28,714 shares during the period. Finally, Deane Retirement Strategies Inc. boosted its holdings in shares of Trade Desk by 126.8% in the fourth quarter. Deane Retirement Strategies Inc. now owns 26,227 shares of the technology company’s stock valued at $1,887,000 after purchasing an additional 14,662 shares during the period. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TTD shares. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Trade Desk in a report on Thursday, May 9th. Truist Financial reissued a “buy” rating and issued a $105.00 price objective on shares of Trade Desk in a research note on Thursday, May 16th. BMO Capital Markets reissued an “outperform” rating and issued a $108.00 price objective (up previously from $107.00) on shares of Trade Desk in a research note on Thursday, May 9th. Stifel Nicolaus boosted their price objective on shares of Trade Desk from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Finally, Citigroup upped their price target on Trade Desk from $110.00 to $112.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.69.

Trade Desk Stock Performance

NASDAQ:TTD opened at $95.76 on Tuesday. The firm’s fifty day moving average is $90.80 and its two-hundred day moving average is $81.74. The Trade Desk, Inc. has a one year low of $60.23 and a one year high of $99.54. The firm has a market cap of $46.84 billion, a price-to-earnings ratio of 239.41, a PEG ratio of 5.00 and a beta of 1.49.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. Trade Desk had a net margin of 9.80% and a return on equity of 9.41%. The business had revenue of $491.25 million for the quarter, compared to analyst estimates of $480.03 million. As a group, equities research analysts predict that The Trade Desk, Inc. will post 0.85 earnings per share for the current fiscal year.

Insider Transactions at Trade Desk

In related news, CFO Laura Schenkein sold 43,705 shares of the firm’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 of the company’s stock, valued at approximately $67,055,764.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Laura Schenkein sold 43,705 shares of the firm’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 of the company’s stock, valued at approximately $67,055,764.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey Terry Green sold 2,600 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $86.41, for a total transaction of $224,666.00. Following the completion of the transaction, the chief executive officer now directly owns 974,022 shares in the company, valued at $84,165,241.02. The disclosure for this sale can be found here. Insiders have sold a total of 262,312 shares of company stock valued at $22,880,941 in the last ninety days. 10.18% of the stock is currently owned by corporate insiders.

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.