American Trust Sells 1,353 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

American Trust reduced its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 15.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 7,462 shares of the technology company’s stock after selling 1,353 shares during the quarter. American Trust’s holdings in Trade Desk were worth $729,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised 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 period. 1832 Asset Management L.P. raised its holdings in Trade Desk by 10.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock valued at $278,623,000 after buying an additional 270,800 shares during the period. Jericho Capital Asset Management L.P. lifted its position 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. Goldman Sachs Group Inc. boosted its stake 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 worth $159,379,000 after buying an additional 209,222 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in Trade Desk by 3.2% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,898,159 shares of the technology company’s stock valued at $165,937,000 after acquiring an additional 59,161 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on TTD. Bank of America initiated coverage on shares of Trade Desk in a research note on Wednesday, September 4th. They set a “buy” rating and a $135.00 price target for the company. Oppenheimer upped their price objective on Trade Desk from $105.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Moffett Nathanson initiated coverage on Trade Desk in a research report on Monday, September 23rd. They set a “neutral” rating and a $100.00 target price for the company. Piper Sandler restated an “overweight” rating and issued a $110.00 price target on shares of Trade Desk in a report on Tuesday, June 11th. Finally, Loop Capital lifted their price objective 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. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $109.43.

Insiders Place Their Bets

In other news, CEO Jeffrey Terry Green sold 200,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $110.54, for a total transaction of $22,108,000.00. Following the sale, the chief executive officer now directly owns 365,180 shares of the company’s stock, valued at $40,366,997.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Trade Desk news, insider Samantha Jacobson sold 4,872 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were 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 of the company’s stock, valued at approximately $9,887,713. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey Terry Green sold 200,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $110.54, for a total transaction of $22,108,000.00. Following the completion of the sale, the chief executive officer now directly owns 365,180 shares in the company, valued at $40,366,997.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,056,669 shares of company stock valued at $113,117,247. Insiders own 10.18% of the company’s stock.

Trade Desk Price Performance

Shares of TTD stock opened at $108.72 on Wednesday. The stock’s fifty day moving average price is $100.15 and its 200 day moving average price is $94.31. The Trade Desk, Inc. has a 1-year low of $60.23 and a 1-year high of $112.22. The company has a market cap of $53.18 billion, a price-to-earnings ratio of 271.80, a price-to-earnings-growth ratio of 5.27 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. The business had revenue of $584.55 million for 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 was up 25.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.07 earnings per share. As a group, equities research analysts anticipate that The Trade Desk, Inc. will post 0.86 earnings per share for the current year.

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.