Benjamin F. Edwards & Company Inc. Has $3.10 Million Position in The Trade Desk, Inc. (NASDAQ:TTD)

Benjamin F. Edwards & Company Inc. lifted its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 64.9% during the second quarter, Holdings Channel reports. The fund owned 31,761 shares of the technology company’s stock after buying an additional 12,500 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Trade Desk were worth $3,102,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Trade Desk by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock worth $3,003,666,000 after buying an additional 818,568 shares during the last quarter. 1832 Asset Management L.P. acquired a new position in Trade Desk during the first quarter worth $225,710,000. Jericho Capital Asset Management L.P. raised its holdings in Trade Desk by 4.3% during the first quarter. Jericho Capital Asset Management L.P. now owns 2,419,355 shares of the technology company’s stock worth $211,500,000 after buying an additional 100,000 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Trade Desk by 10.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,214,832 shares of the technology company’s stock worth $159,379,000 after buying an additional 209,222 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Trade Desk by 3.2% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,898,159 shares of the technology company’s stock worth $165,937,000 after buying an additional 59,161 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Insider Activity at Trade Desk

In related news, insider Jay R. Grant sold 141,434 shares of the firm’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 value of $13,778,500.28. Following the sale, the insider now directly owns 188,236 shares of the company’s stock, valued at $18,337,951.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Jay R. Grant sold 141,434 shares of the firm’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 value of $13,778,500.28. Following the sale, the insider now directly owns 188,236 shares of the company’s stock, valued at $18,337,951.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 shares were 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 in the company, valued at $9,887,713. The disclosure for this sale can be found here. Insiders have sold 596,748 shares of company stock valued at $61,010,053 over the last three months. 10.18% of the stock is owned by corporate insiders.

Trade Desk Trading Down 0.6 %

Shares of Trade Desk stock opened at $109.51 on Friday. The Trade Desk, Inc. has a 12-month low of $60.23 and a 12-month high of $111.80. The company has a market cap of $53.56 billion, a price-to-earnings ratio of 273.78, a PEG ratio of 5.07 and a beta of 1.48. The company’s 50-day moving average price is $98.75 and its 200-day moving average price is $93.00.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. The firm had revenue of $584.55 million for the quarter, compared to the consensus estimate 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 for the quarter was up 25.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.07 earnings per share. On average, sell-side analysts predict that The Trade Desk, Inc. will post 0.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TTD. Evercore ISI upgraded shares of Trade Desk to a “strong-buy” rating in a research note on Tuesday, August 6th. Wedbush reiterated an “outperform” rating and issued a $115.00 target price (up previously from $110.00) on shares of Trade Desk in a research note on Thursday, September 12th. Bank of America began coverage on shares of Trade Desk in a research note on Wednesday, September 4th. They issued a “buy” rating and a $135.00 target price for the company. Piper Sandler reiterated an “overweight” rating and issued a $110.00 target price on shares of Trade Desk in a research note on Tuesday, June 11th. Finally, Wolfe Research assumed coverage on shares of Trade Desk in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $115.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $109.05.

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.