Fred Alger Management LLC Increases Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Fred Alger Management LLC grew its position in The Trade Desk, Inc. (NASDAQ:TTD) by 109.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 462,579 shares of the technology company’s stock after purchasing an additional 241,234 shares during the quarter. Fred Alger Management LLC’s holdings in Trade Desk were worth $45,180,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Trade Desk by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock worth $3,003,666,000 after acquiring an additional 818,568 shares in the last quarter. 1832 Asset Management L.P. lifted its position in shares of Trade Desk by 10.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock worth $278,623,000 after purchasing an additional 270,800 shares during the period. Jericho Capital Asset Management L.P. boosted its stake in shares of Trade Desk by 4.3% during the first quarter. Jericho Capital Asset Management L.P. now owns 2,419,355 shares of the technology company’s stock valued at $211,500,000 after purchasing an additional 100,000 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings 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 buying an additional 209,222 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Trade Desk by 3.2% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,898,159 shares of the technology company’s stock worth $165,937,000 after acquiring an additional 59,161 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

Trade Desk Trading Up 2.1 %

NASDAQ:TTD opened at $110.79 on Wednesday. The Trade Desk, Inc. has a 12 month low of $60.23 and a 12 month high of $111.80. The stock has a 50 day moving average of $99.11 and a two-hundred day moving average of $93.47. The firm has a market cap of $54.46 billion, a P/E ratio of 276.98, a price-to-earnings-growth ratio of 5.22 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data 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. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The firm had revenue of $584.55 million during the quarter, compared to analyst estimates of $578.03 million. During the same quarter in the prior year, the firm posted $0.07 earnings per share. Trade Desk’s quarterly revenue was up 25.9% on a year-over-year basis. On average, research analysts forecast that The Trade Desk, Inc. will post 0.86 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on TTD. Citigroup raised their price objective on Trade Desk from $112.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Wolfe Research started coverage on Trade Desk in a research report on Tuesday, July 16th. They set an “outperform” rating and a $115.00 price target on the stock. Robert W. Baird increased their price objective on Trade Desk from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Morgan Stanley boosted their target price on Trade Desk from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $111.00 target price (up from $105.00) on shares of Trade Desk in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Trade Desk presently has a consensus rating of “Moderate Buy” and an average target price of $108.71.

Insider Activity at Trade Desk

In other news, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $98.37, for a total value of $133,291.35. Following the sale, the director now directly owns 32,701 shares of the company’s stock, valued at approximately $3,216,797.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $98.37, for a total transaction of $133,291.35. Following the completion of the transaction, the director now directly owns 32,701 shares in the company, valued at approximately $3,216,797.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jay R. Grant sold 141,434 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $97.42, for a total transaction of $13,778,500.28. Following the sale, the insider now owns 188,236 shares in the company, valued at $18,337,951.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 996,748 shares of company stock worth $104,640,053. Company insiders own 10.18% of the company’s stock.

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.