Envestnet Asset Management Inc. Raises Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Envestnet Asset Management Inc. raised its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 7.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 676,933 shares of the technology company’s stock after buying an additional 45,627 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Trade Desk were worth $66,116,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of TTD. Norges Bank purchased a new stake in shares of Trade Desk in the 4th quarter worth approximately $255,316,000. 1832 Asset Management L.P. bought a new stake in Trade Desk in the first quarter worth $225,710,000. Vanguard Group Inc. grew its stake in shares of Trade Desk by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock worth $3,003,666,000 after acquiring an additional 818,568 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Trade Desk by 3,973.6% during the second quarter. Acadian Asset Management LLC now owns 448,989 shares of the technology company’s stock valued at $43,836,000 after acquiring an additional 437,967 shares in the last quarter. Finally, Steadfast Capital Management LP increased its holdings in shares of Trade Desk by 78.3% during the first quarter. Steadfast Capital Management LP now owns 983,000 shares of the technology company’s stock valued at $85,934,000 after acquiring an additional 431,600 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

Insider Activity at Trade Desk

In other Trade Desk news, insider Samantha Jacobson sold 4,872 shares of Trade Desk stock in a transaction 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 $9,887,713. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Trade Desk news, CEO Jeffrey Terry Green sold 135,922 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $103.72, for a total value of $14,097,829.84. Following the completion of the sale, the chief executive officer now owns 664,261 shares of the company’s stock, valued at $68,897,150.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Samantha Jacobson sold 4,872 shares of the business’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 value of $484,764.00. Following the transaction, the insider now owns 99,374 shares of the company’s stock, valued at approximately $9,887,713. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 599,163 shares of company stock worth $61,246,529. Company insiders own 10.18% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Morgan Stanley increased their price objective on shares of Trade Desk from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Cantor Fitzgerald began coverage on shares of Trade Desk in a research report on Thursday, September 5th. They set a “neutral” rating and a $110.00 price target for the company. Truist Financial upped their price objective on Trade Desk from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Loop Capital lifted their target price on Trade Desk from $109.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Finally, Robert W. Baird increased their price objective on Trade Desk from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Trade Desk currently has an average rating of “Moderate Buy” and an average target price of $109.05.

Trade Desk Stock Performance

Shares of TTD opened at $108.02 on Thursday. The Trade Desk, Inc. has a fifty-two week low of $60.23 and a fifty-two week high of $109.50. The stock has a market capitalization of $53.10 billion, a PE ratio of 270.06, a P/E/G ratio of 5.07 and a beta of 1.48. The company’s fifty day moving average is $98.15 and its 200 day moving average is $92.51.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.36 by $0.03. The company had revenue of $584.55 million during 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 firm’s revenue was up 25.9% on a year-over-year basis. During the same quarter last year, the business posted $0.07 earnings per share. As a group, research analysts forecast 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.