Advisory Services Network LLC Increases Position in The Trade Desk, Inc. (NASDAQ:TTD)

Advisory Services Network LLC boosted its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 4.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,015 shares of the technology company’s stock after acquiring an additional 2,548 shares during the period. Advisory Services Network LLC’s holdings in Trade Desk were worth $5,334,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Jennison Associates LLC increased its stake in Trade Desk by 91.7% during the 4th quarter. Jennison Associates LLC now owns 14,586,150 shares of the technology company’s stock worth $1,049,619,000 after buying an additional 6,978,352 shares during the period. Norges Bank acquired a new stake in Trade Desk during the 4th quarter worth $255,316,000. ARK Investment Management LLC boosted its stake in Trade Desk by 1,162.0% during the 4th quarter. ARK Investment Management LLC now owns 2,149,654 shares of the technology company’s stock worth $154,689,000 after purchasing an additional 1,979,319 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Trade Desk by 6,600.0% in the 4th quarter. International Assets Investment Management LLC now owns 1,091,561 shares of the technology company’s stock worth $78,549,000 after acquiring an additional 1,075,269 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Trade Desk by 2.0% in the 4th 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 period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Stock Performance

Trade Desk stock traded up $1.08 during midday trading on Friday, reaching $99.65. The stock had a trading volume of 1,261,150 shares, compared to its average volume of 4,138,719. The firm’s fifty day simple moving average is $95.07 and its 200-day simple moving average is $83.86. The Trade Desk, Inc. has a 1-year low of $60.23 and a 1-year high of $102.67. The stock has a market capitalization of $48.74 billion, a P/E ratio of 246.43, a price-to-earnings-growth ratio of 5.11 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. Trade Desk had a return on equity of 9.41% and a net margin of 9.80%. The firm had revenue of $491.25 million for the quarter, compared to analyst estimates of $480.03 million. On average, sell-side analysts anticipate that The Trade Desk, Inc. will post 0.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. DA Davidson increased their price target on shares of Trade Desk from $95.00 to $104.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Truist Financial reiterated a “buy” rating and set a $105.00 price target on shares of Trade Desk in a report on Thursday, May 16th. Royal Bank of Canada raised their target price on shares of Trade Desk from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Loop Capital lifted their price target on shares of Trade Desk from $102.00 to $109.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Trade Desk in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, Trade Desk presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.69.

Insider Buying and Selling at Trade Desk

In other news, CEO Jeffrey Terry Green sold 75,000 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $85.13, for a total transaction of $6,384,750.00. Following the completion of the transaction, the chief executive officer now owns 899,022 shares of the company’s stock, valued at approximately $76,533,742.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Laura Schenkein sold 43,705 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 703,038 shares in the company, valued at approximately $67,055,764.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey Terry Green sold 75,000 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $85.13, for a total value of $6,384,750.00. Following the completion of the transaction, the chief executive officer now owns 899,022 shares in the company, valued at approximately $76,533,742.86. The disclosure for this sale can be found here. Insiders sold 365,154 shares of company stock valued at $33,638,976 in the last three months. Corporate insiders own 10.18% of the company’s stock.

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.