Equitable Trust Co. Raises Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Equitable Trust Co. lifted its position in The Trade Desk, Inc. (NASDAQ:TTD) by 15.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,679 shares of the technology company’s stock after purchasing an additional 500 shares during the period. Equitable Trust Co.’s holdings in Trade Desk were worth $359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Assets Advisory LLC bought a new stake in Trade Desk during the first quarter valued at about $2,626,000. Franklin Resources Inc. grew its position in shares of Trade Desk by 15.7% during the fourth quarter. Franklin Resources Inc. now owns 393,907 shares of the technology company’s stock worth $28,346,000 after purchasing an additional 53,441 shares in the last quarter. Nordea Investment Management AB raised its stake in Trade Desk by 11.4% during the 1st 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 during the period. 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 purchasing an additional 305,615 shares during the period. Finally, CHURCHILL MANAGEMENT Corp purchased a new position in Trade Desk in the 1st quarter worth approximately $3,011,000. 67.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 283,429 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $104.20, for a total value of $29,533,301.80. Following the completion of the sale, the chief executive officer now directly owns 380,832 shares in the company, valued at approximately $39,682,694.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Laura Schenkein sold 43,705 shares of Trade Desk stock in a transaction on 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 in the company, valued at approximately $67,055,764.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey Terry Green sold 283,429 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $104.20, for a total value of $29,533,301.80. Following the completion of the transaction, the chief executive officer now directly owns 380,832 shares of the company’s stock, valued at $39,682,694.40. The disclosure for this sale can be found here. Insiders sold a total of 642,868 shares of company stock valued at $65,415,112 in the last three months. Company insiders own 10.18% of the company’s stock.

Trade Desk Price Performance

Shares of NASDAQ TTD opened at $104.53 on Tuesday. The Trade Desk, Inc. has a 1 year low of $60.23 and a 1 year high of $105.39. The firm has a 50-day simple moving average of $97.32 and a two-hundred day simple moving average of $91.11. The company has a market cap of $51.38 billion, a P/E ratio of 261.33, a PEG ratio of 5.30 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. The firm had revenue of $584.55 million during the quarter, compared to analyst estimates of $578.03 million. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. Trade Desk’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same period last year, the company earned $0.07 EPS. As a group, equities research analysts expect that The Trade Desk, Inc. will post 0.86 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TTD shares. Oppenheimer increased their price objective on shares of Trade Desk from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Loop Capital lifted their price target on shares of Trade Desk from $109.00 to $120.00 and gave the company a “buy” rating in a report on Monday, August 26th. Citigroup lifted their target price on Trade Desk from $112.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Truist Financial boosted their target price on Trade Desk from $105.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, BTIG Research raised their price target on Trade Desk from $110.00 to $114.00 and gave the company a “buy” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $107.72.

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.