1832 Asset Management L.P. Boosts Stake in The Trade Desk, Inc. (NASDAQ:TTD)

1832 Asset Management L.P. grew its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 10.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,852,700 shares of the technology company’s stock after purchasing an additional 270,800 shares during the quarter. 1832 Asset Management L.P. owned 0.58% of Trade Desk worth $278,623,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Global Assets Advisory LLC acquired a new position in shares of Trade Desk in the first quarter worth about $2,626,000. Franklin Resources Inc. raised its stake in Trade Desk by 15.7% during the fourth quarter. Franklin Resources Inc. now owns 393,907 shares of the technology company’s stock valued at $28,346,000 after buying an additional 53,441 shares in the last quarter. Nordea Investment Management AB raised its stake in Trade Desk by 11.4% during the first quarter. Nordea Investment Management AB now owns 683,642 shares of the technology company’s stock valued at $60,202,000 after buying an additional 70,201 shares in the last quarter. Nicholas Company Inc. raised its stake in Trade Desk by 64.9% during the fourth quarter. Nicholas Company Inc. now owns 776,425 shares of the technology company’s stock valued at $55,872,000 after buying an additional 305,615 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp bought a new position in shares of Trade Desk during the first quarter valued at approximately $3,011,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Insider Activity

In other news, CEO Jeffrey Terry Green sold 283,429 shares of the 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 owns 380,832 shares in the company, valued at $39,682,694.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jeffrey Terry Green sold 283,429 shares of the 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 owns 380,832 shares in the company, valued at $39,682,694.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Samantha Jacobson sold 4,872 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $99.50, for a total transaction of $484,764.00. Following the completion of the transaction, the insider now directly owns 99,374 shares in the company, valued at $9,887,713. The disclosure for this sale can be found here. Insiders sold 596,748 shares of company stock worth $61,010,053 over the last quarter. Corporate insiders own 10.18% of the company’s stock.

Trade Desk Stock Performance

Shares of NASDAQ:TTD opened at $109.51 on Friday. The Trade Desk, Inc. has a one year low of $60.23 and a one year high of $111.80. The stock has a fifty day moving average of $98.75 and a 200-day moving average of $93.00. The company has a market capitalization of $53.56 billion, a PE ratio of 273.78, a price-to-earnings-growth ratio of 5.07 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last released its earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. The company 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%. The company’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 earnings per share. As a group, research analysts forecast that The Trade Desk, Inc. will post 0.86 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $111.00 target price (up from $105.00) on shares of Trade Desk in a report on Friday, August 9th. KeyCorp increased their price objective on Trade Desk from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Royal Bank of Canada increased their price objective on Trade Desk from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Loop Capital increased their price objective on Trade Desk from $109.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Finally, Robert W. Baird increased their price objective on Trade Desk from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Trade Desk presently has a consensus rating of “Moderate Buy” and an average target price of $109.05.

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.