Deane Retirement Strategies Inc. Cuts Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Deane Retirement Strategies Inc. decreased its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 0.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,592 shares of the technology company’s stock after selling 153 shares during the period. Trade Desk makes up approximately 1.7% of Deane Retirement Strategies Inc.’s investment portfolio, making the stock its 20th biggest position. Deane Retirement Strategies Inc.’s holdings in Trade Desk were worth $3,573,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TTD. Pinnacle Bancorp Inc. lifted its holdings in shares of Trade Desk by 119.9% in the 1st quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock valued at $26,000 after acquiring an additional 163 shares during the last quarter. Riverview Trust Co purchased a new position in shares of Trade Desk during the first quarter valued at approximately $27,000. Transcendent Capital Group LLC purchased a new position in shares of Trade Desk during the second quarter valued at approximately $30,000. EdgeRock Capital LLC purchased a new position in shares of Trade Desk during the second quarter valued at approximately $37,000. Finally, Quarry LP bought a new position in Trade Desk in the second quarter worth approximately $41,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Up 2.5 %

Shares of NASDAQ TTD opened at $111.46 on Friday. The stock has a market capitalization of $54.52 billion, a P/E ratio of 278.65, a PEG ratio of 5.27 and a beta of 1.48. The stock’s 50 day moving average price is $100.69 and its two-hundred day moving average price is $94.64. The Trade Desk, Inc. has a 52-week low of $60.23 and a 52-week high of $112.22.

Trade Desk (NASDAQ:TTD) last announced 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 analysts’ expectations of $578.03 million. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The business’s quarterly revenue was up 25.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 EPS. On average, analysts anticipate that The Trade Desk, Inc. will post 0.86 EPS for the current year.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, insider Jay R. Grant sold 20,579 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $108.65, for a total transaction of $2,235,908.35. Following the sale, the insider now directly owns 178,853 shares of the company’s stock, valued at approximately $19,432,378.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Andrea Lee Cunningham sold 1,606 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $100.07, for a total value of $160,712.42. Following the completion of the sale, the director now directly owns 3,516 shares in the company, valued at $351,846.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jay R. Grant sold 20,579 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $108.65, for a total transaction of $2,235,908.35. Following the completion of the sale, the insider now owns 178,853 shares of the company’s stock, valued at $19,432,378.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,077,248 shares of company stock valued at $115,353,156. Corporate insiders own 10.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TTD. Robert W. Baird raised their target price on Trade Desk from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. Citigroup raised their target price on Trade Desk from $112.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Moffett Nathanson initiated coverage on Trade Desk in a report on Monday, September 23rd. They issued a “neutral” rating and a $100.00 price objective on the stock. Cantor Fitzgerald restated a “neutral” rating and set a $110.00 target price on shares of Trade Desk in a report on Monday. Finally, Truist Financial boosted their target price on Trade Desk from $108.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $109.89.

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.