Allspring Global Investments Holdings LLC Has $69.14 Million Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Allspring Global Investments Holdings LLC cut its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 2.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 630,553 shares of the technology company’s stock after selling 18,442 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Trade Desk were worth $69,140,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. OLD National Bancorp IN increased its stake in shares of Trade Desk by 31.7% in the third quarter. OLD National Bancorp IN now owns 3,555 shares of the technology company’s stock valued at $390,000 after buying an additional 855 shares during the period. Pure Portfolios Holdings LLC bought a new position in shares of Trade Desk during the third quarter valued at $266,000. Means Investment CO. Inc. acquired a new position in shares of Trade Desk during the third quarter worth $201,000. Chicago Capital LLC grew its stake in shares of Trade Desk by 2.9% in the third quarter. Chicago Capital LLC now owns 543,456 shares of the technology company’s stock worth $59,590,000 after purchasing an additional 15,513 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in Trade Desk by 364.9% in the third quarter. Blue Trust Inc. now owns 6,169 shares of the technology company’s stock valued at $676,000 after purchasing an additional 4,842 shares during the period. 67.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TTD shares. Susquehanna upped their price target on Trade Desk from $110.00 to $135.00 and gave the company a “positive” rating in a research report on Friday, August 9th. Royal Bank of Canada increased their target price on shares of Trade Desk from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Evercore ISI upgraded shares of Trade Desk to a “strong-buy” rating in a research report on Tuesday, August 6th. Moffett Nathanson started coverage on shares of Trade Desk in a research report on Monday, September 23rd. They set a “neutral” rating and a $100.00 price objective for the company. Finally, Oppenheimer boosted their target price on shares of Trade Desk from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $112.97.

Insider Buying and Selling

In other Trade Desk news, Director Andrea Lee Cunningham sold 1,606 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $100.07, for a total transaction of $160,712.42. Following the transaction, the director now directly owns 3,516 shares in the company, valued at approximately $351,846.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Samantha Jacobson sold 4,872 shares of the 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 completion of the sale, the insider now directly owns 99,374 shares of the company’s stock, valued at approximately $9,887,713. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andrea Lee Cunningham sold 1,606 shares of Trade Desk stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $100.07, for a total value of $160,712.42. Following the sale, the director now owns 3,516 shares in the company, valued at $351,846.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,556,542 shares of company stock worth $169,961,824. 9.72% of the stock is owned by corporate insiders.

Trade Desk Price Performance

Shares of NASDAQ TTD opened at $118.21 on Tuesday. The company has a 50-day moving average price of $107.58 and a 200-day moving average price of $97.52. The stock has a market capitalization of $58.11 billion, a P/E ratio of 236.42, a P/E/G ratio of 5.72 and a beta of 1.48. The Trade Desk, Inc. has a 1 year low of $60.23 and a 1 year high of $119.50.

Trade Desk (NASDAQ:TTD) last released its quarterly 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 business had revenue of $584.55 million during the quarter, compared to the consensus estimate of $578.03 million. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The company’s quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.07 EPS. As a group, equities research analysts anticipate that The Trade Desk, Inc. will post 0.86 earnings per share for the current fiscal year.

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.