Clearbridge Investments LLC Boosts Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Clearbridge Investments LLC raised its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 5.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 479,021 shares of the technology company’s stock after purchasing an additional 23,073 shares during the quarter. Clearbridge Investments LLC owned 0.10% of Trade Desk worth $46,786,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Global Assets Advisory LLC acquired a new stake in shares of Trade Desk in the 1st quarter worth approximately $2,626,000. Nordea Investment Management AB increased its position in shares of Trade Desk by 11.4% in 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. CHURCHILL MANAGEMENT Corp acquired a new position in shares of Trade Desk during the 1st quarter worth $3,011,000. International Assets Investment Management LLC boosted its position in shares of Trade Desk by 4.3% in the 1st quarter. International Assets Investment Management LLC now owns 15,825 shares of the technology company’s stock worth $1,382,000 after buying an additional 656 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new stake in Trade Desk in the 1st quarter valued at about $1,034,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on TTD. Wolfe Research began coverage on shares of Trade Desk in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $115.00 price target on the stock. Oppenheimer raised their price target on Trade Desk from $105.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Loop Capital upped their price objective on Trade Desk from $109.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Bank of America began coverage on Trade Desk in a research report on Wednesday, September 4th. They set a “buy” rating and a $135.00 price objective for the company. Finally, Susquehanna upped their target price on shares of Trade Desk from $110.00 to $135.00 and gave the company a “positive” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $109.89.

Trade Desk Price Performance

Shares of TTD opened at $111.46 on Friday. The Trade Desk, Inc. has a 12 month low of $60.23 and a 12 month high of $112.22. The stock has a market cap of $54.52 billion, a PE ratio of 278.65, a P/E/G ratio of 5.27 and a beta of 1.48. The stock’s 50-day moving average is $100.69 and its two-hundred day moving average is $94.64.

Trade Desk (NASDAQ:TTD) last released 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 firm had revenue of $584.55 million during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business earned $0.07 EPS. On average, research analysts anticipate that The Trade Desk, Inc. will post 0.86 earnings per share for the current year.

Insider Buying and Selling

In other Trade Desk news, insider Samantha Jacobson sold 4,872 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $99.50, for a total value 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 filing with the SEC, which is accessible through this link. In other Trade Desk news, CFO Laura Schenkein sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $100.43, for a total value of $2,510,750.00. Following the transaction, the chief financial officer now directly owns 703,038 shares of the company’s stock, valued at approximately $70,606,106.34. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Samantha Jacobson sold 4,872 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 99,374 shares of the company’s stock, valued at approximately $9,887,713. The disclosure for this sale can be found here. Insiders have sold 1,077,248 shares of company stock valued at $115,353,156 in the last quarter. Company insiders own 10.18% of the company’s stock.

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.