Pier Capital LLC Has $934,000 Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Pier Capital LLC boosted its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 6.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,560 shares of the technology company’s stock after acquiring an additional 560 shares during the quarter. Pier Capital LLC’s holdings in Trade Desk were worth $934,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in TTD. Vanguard Group Inc. boosted its position in Trade Desk by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock valued at $3,003,666,000 after purchasing an additional 818,568 shares during the last quarter. Norges Bank acquired a new stake in shares of Trade Desk during the 4th quarter valued at about $255,316,000. 1832 Asset Management L.P. bought a new stake in shares of Trade Desk in the 1st quarter valued at approximately $225,710,000. Jericho Capital Asset Management L.P. increased its holdings in Trade Desk by 4.3% in the first quarter. Jericho Capital Asset Management L.P. now owns 2,419,355 shares of the technology company’s stock worth $211,500,000 after buying an additional 100,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Trade Desk by 10.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,214,832 shares of the technology company’s stock valued at $159,379,000 after acquiring an additional 209,222 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Price Performance

Shares of TTD stock opened at $101.61 on Thursday. The Trade Desk, Inc. has a one year low of $60.23 and a one year high of $105.39. The stock has a fifty day moving average price of $97.67 and a 200 day moving average price of $91.80. The stock has a market cap of $49.95 billion, a P/E ratio of 254.03, a price-to-earnings-growth ratio of 4.83 and a beta of 1.47.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $578.03 million. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The firm’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period last year, the firm earned $0.07 EPS. Equities research analysts anticipate that The Trade Desk, Inc. will post 0.86 EPS for the current year.

Insider Buying and Selling at Trade Desk

In related news, CEO Jeffrey Terry Green sold 283,429 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $104.20, for a total transaction of $29,533,301.80. Following the completion of the transaction, the chief executive officer now owns 380,832 shares in the company, valued at approximately $39,682,694.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Jay R. Grant sold 141,434 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $97.42, for a total transaction of $13,778,500.28. Following the completion of the sale, the insider now owns 188,236 shares of the company’s stock, valued at $18,337,951.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jeffrey Terry Green sold 283,429 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $39,682,694.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 642,868 shares of company stock valued at $65,415,112. 10.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TTD. Truist Financial increased their price target on shares of Trade Desk from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Macquarie reissued an “outperform” rating and set a $115.00 target price on shares of Trade Desk in a research report on Friday, August 9th. Loop Capital boosted their price target on Trade Desk from $109.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Wedbush reissued an “outperform” rating and set a $110.00 price objective on shares of Trade Desk in a report on Friday, August 9th. Finally, StockNews.com downgraded Trade Desk from a “buy” rating to a “hold” rating in a research note on Saturday, September 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $108.85.

Trade Desk 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.