Central Pacific Bank Trust Division Lowers Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Central Pacific Bank Trust Division cut its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 42.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,342 shares of the technology company’s stock after selling 4,717 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Trade Desk were worth $695,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Trade Desk by 1,277.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 41,719 shares of the technology company’s stock valued at $4,075,000 after purchasing an additional 38,691 shares during the period. Lazari Capital Management Inc. acquired a new position in Trade Desk during the second quarter valued at approximately $316,000. Sanctuary Advisors LLC acquired a new position in Trade Desk during the second quarter valued at approximately $4,214,000. Strategic Investment Solutions Inc. IL acquired a new position in Trade Desk during the second quarter valued at approximately $72,000. Finally, Clearbridge Investments LLC lifted its position in Trade Desk by 5.1% during the second quarter. Clearbridge Investments LLC now owns 479,021 shares of the technology company’s stock valued at $46,786,000 after buying an additional 23,073 shares in the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TTD. Needham & Company LLC lifted their price target on shares of Trade Desk from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday. Macquarie reissued an “outperform” rating and set a $115.00 target price on shares of Trade Desk in a research report on Friday, August 9th. Robert W. Baird boosted their target price on shares of Trade Desk from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. Bank of America assumed coverage on shares of Trade Desk in a research report on Wednesday, September 4th. They set a “buy” rating and a $135.00 target price on the stock. Finally, Truist Financial boosted their target price on shares of Trade Desk from $108.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.89.

Insider Transactions at Trade Desk

In other news, insider Jay R. Grant sold 20,579 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $108.65, for a total transaction of $2,235,908.35. Following the completion of the transaction, the insider now owns 178,853 shares in the company, valued at $19,432,378.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Laura Schenkein sold 25,000 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $100.43, for a total value of $2,510,750.00. Following the completion of the sale, the chief financial officer now owns 703,038 shares of the company’s stock, valued at $70,606,106.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jay R. Grant sold 20,579 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $108.65, for a total transaction of $2,235,908.35. Following the completion of the sale, the insider now directly owns 178,853 shares of the company’s stock, valued at approximately $19,432,378.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,077,248 shares of company stock worth $115,353,156. Insiders own 10.18% of the company’s stock.

Trade Desk Price Performance

TTD stock opened at $111.46 on Friday. The Trade Desk, Inc. has a 1-year low of $60.23 and a 1-year high of $112.22. The firm has a fifty day moving average price of $100.69 and a two-hundred day moving average price of $94.64. The firm has a market cap of $54.52 billion, a price-to-earnings ratio of 278.65, a PEG ratio of 5.27 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 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.03. The firm 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 firm’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.07 earnings per share. As a group, analysts expect that The Trade Desk, Inc. will post 0.86 EPS 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.