Marshall Wace LLP Acquires 872,555 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Marshall Wace LLP lifted its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 100.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,743,369 shares of the technology company’s stock after purchasing an additional 872,555 shares during the period. Marshall Wace LLP’s holdings in Trade Desk were worth $170,275,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Xponance Inc. grew its position in Trade Desk by 0.3% in the 2nd quarter. Xponance Inc. now owns 79,169 shares of the technology company’s stock worth $7,732,000 after purchasing an additional 267 shares in the last quarter. Bank of Montreal Can grew its position in Trade Desk by 60.8% in the 2nd quarter. Bank of Montreal Can now owns 644,779 shares of the technology company’s stock worth $63,143,000 after purchasing an additional 243,771 shares in the last quarter. Delap Wealth Advisory LLC purchased a new position in Trade Desk in the second quarter valued at about $214,000. EverSource Wealth Advisors LLC boosted its stake in Trade Desk by 19.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,090 shares of the technology company’s stock valued at $98,000 after acquiring an additional 176 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in Trade Desk by 10.5% in the second quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock valued at $278,623,000 after acquiring an additional 270,800 shares during the last quarter. 67.77% of the stock is owned by institutional investors.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, Director Andrea Lee Cunningham sold 1,606 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $100.07, for a total transaction of $160,712.42. Following the completion of the sale, the director now owns 3,516 shares of the company’s stock, valued at approximately $351,846.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other 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 directly owns 664,261 shares of the company’s stock, valued at approximately $68,897,150.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Andrea Lee Cunningham sold 1,606 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $100.07, for a total transaction of $160,712.42. Following the completion of the sale, the director now directly owns 3,516 shares of the company’s stock, valued at $351,846.12. The disclosure for this sale can be found here. Insiders sold 596,748 shares of company stock valued at $61,010,053 in the last quarter. Company insiders own 10.18% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on TTD shares. 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. Cantor Fitzgerald reiterated a “neutral” rating and issued a $110.00 target price on shares of Trade Desk in a research note on Monday. Truist Financial boosted their target price on shares of Trade Desk from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, August 9th. KeyCorp boosted their target price on shares of Trade Desk from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Finally, BTIG Research upped their price target on shares of Trade Desk from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $108.71.

Trade Desk Stock Performance

TTD stock opened at $108.53 on Tuesday. The Trade Desk, Inc. has a 52 week low of $60.23 and a 52 week high of $111.80. The firm’s fifty day moving average is $98.92 and its 200 day moving average is $93.27. The firm has a market cap of $53.08 billion, a P/E ratio of 271.33, a P/E/G ratio of 5.07 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last released its earnings results on Thursday, August 8th. The technology company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.36 by $0.03. The company had revenue of $584.55 million for 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 firm’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.07 EPS. As a group, analysts forecast that The Trade Desk, Inc. will post 0.86 EPS 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.