The Trade Desk, Inc. (NASDAQ:TTD) Shares Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC boosted its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 70.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 8,788 shares of the technology company’s stock after purchasing an additional 3,630 shares during the period. Concurrent Investment Advisors LLC’s holdings in Trade Desk were worth $858,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Global Assets Advisory LLC acquired a new position in Trade Desk in the 1st quarter valued at about $2,626,000. Franklin Resources Inc. increased its position in Trade Desk by 15.7% during the 4th quarter. Franklin Resources Inc. now owns 393,907 shares of the technology company’s stock worth $28,346,000 after purchasing an additional 53,441 shares during the period. Nordea Investment Management AB increased its position in Trade Desk by 11.4% during the 1st quarter. Nordea Investment Management AB now owns 683,642 shares of the technology company’s stock worth $60,202,000 after purchasing an additional 70,201 shares during the period. Nicholas Company Inc. increased its position in Trade Desk by 64.9% during the 4th quarter. Nicholas Company Inc. now owns 776,425 shares of the technology company’s stock worth $55,872,000 after purchasing an additional 305,615 shares during the period. Finally, CHURCHILL MANAGEMENT Corp acquired a new position in Trade Desk during the 1st quarter worth approximately $3,011,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Insider Buying and Selling

In related news, CFO Laura Schenkein sold 43,705 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $95.38, for a total transaction of $4,168,582.90. Following the completion of the transaction, the chief financial officer now owns 703,038 shares of the company’s stock, valued at $67,055,764.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jay R. Grant sold 141,434 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $97.42, for a total transaction of $13,778,500.28. Following the completion of the transaction, the insider now owns 188,236 shares of the company’s stock, valued at $18,337,951.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Laura Schenkein sold 43,705 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $95.38, for a total transaction of $4,168,582.90. Following the completion of the sale, the chief financial officer now directly owns 703,038 shares of the company’s stock, valued at approximately $67,055,764.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 642,868 shares of company stock valued at $65,415,112. Insiders own 10.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TTD. StockNews.com upgraded Trade Desk from a “hold” rating to a “buy” rating in a research report on Friday. Wedbush reiterated an “outperform” rating and set a $110.00 target price on shares of Trade Desk in a research report on Friday, August 9th. Macquarie reiterated an “outperform” rating and set a $115.00 target price on shares of Trade Desk in a research report on Friday, August 9th. BMO Capital Markets reiterated an “outperform” rating and set a $108.00 target price (up previously from $107.00) on shares of Trade Desk in a research report on Thursday, May 9th. Finally, Susquehanna boosted their target price on Trade Desk from $110.00 to $135.00 and gave the stock a “positive” rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.72.

Trade Desk Price Performance

NASDAQ:TTD opened at $104.53 on Monday. The firm has a 50 day simple moving average of $97.15 and a 200-day simple moving average of $90.90. The firm has a market cap of $51.38 billion, a PE ratio of 261.33, a P/E/G ratio of 5.30 and a beta of 1.48. The Trade Desk, Inc. has a 1-year low of $60.23 and a 1-year high of $105.39.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Thursday, August 8th. The technology company reported $0.39 earnings per share 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 analyst estimates of $578.03 million. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The company’s revenue was up 25.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.07 earnings per share. As a group, sell-side analysts expect that The Trade Desk, Inc. will post 0.86 earnings per share for the current fiscal year.

Trade Desk Company 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.