The Trade Desk, Inc. (NASDAQ:TTD) Stake Reduced by EntryPoint Capital LLC

EntryPoint Capital LLC reduced its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 34.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 1,467 shares of the technology company’s stock after selling 767 shares during the period. EntryPoint Capital LLC’s holdings in Trade Desk were worth $128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. raised its stake in shares of Trade Desk by 119.9% in the 1st quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock worth $26,000 after buying an additional 163 shares in the last quarter. Riverview Trust Co acquired a new stake in shares of Trade Desk in the first quarter valued at $27,000. Bogart Wealth LLC lifted its holdings in shares of Trade Desk by 194.7% in the first quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock valued at $29,000 after buying an additional 222 shares during the period. Level Financial Advisors Inc. lifted its holdings in shares of Trade Desk by 50.0% in the fourth quarter. Level Financial Advisors Inc. now owns 450 shares of the technology company’s stock valued at $32,000 after buying an additional 150 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Trade Desk by 889.4% in the fourth quarter. Jones Financial Companies Lllp now owns 465 shares of the technology company’s stock valued at $33,000 after buying an additional 418 shares during the period. 67.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Loop Capital upped their price objective on Trade Desk from $102.00 to $109.00 and gave the company a “buy” rating in a report on Thursday, May 16th. Truist Financial reaffirmed a “buy” rating and set a $105.00 target price on shares of Trade Desk in a report on Thursday, May 16th. Piper Sandler reaffirmed an “overweight” rating and set a $110.00 target price on shares of Trade Desk in a report on Tuesday, June 11th. BMO Capital Markets reaffirmed an “outperform” rating and set a $108.00 target price (up from $107.00) on shares of Trade Desk in a report on Thursday, May 9th. Finally, DA Davidson upped their price target on shares of Trade Desk from $95.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $100.38.

Insider Activity

In other news, CEO Jeffrey Terry Green sold 75,000 shares of Trade Desk stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $84.47, for a total transaction of $6,335,250.00. Following the sale, the chief executive officer now directly owns 824,022 shares in the company, valued at approximately $69,605,138.34. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $98.37, for a total transaction of $133,291.35. Following the completion of the sale, the director now owns 32,701 shares in the company, valued at approximately $3,216,797.37. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 75,000 shares of Trade Desk stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $84.47, for a total transaction of $6,335,250.00. Following the sale, the chief executive officer now owns 824,022 shares of the company’s stock, valued at approximately $69,605,138.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 288,909 shares of company stock worth $27,162,851. Corporate insiders own 10.18% of the company’s stock.

Trade Desk Stock Performance

Shares of Trade Desk stock traded up $1.76 during midday trading on Friday, reaching $92.64. 1,222,644 shares of the company’s stock traded hands, compared to its average volume of 4,125,795. The company has a market cap of $45.31 billion, a price-to-earnings ratio of 228.93, a price-to-earnings-growth ratio of 4.57 and a beta of 1.48. The company’s 50 day simple moving average is $96.72 and its 200 day simple moving average is $85.59. The Trade Desk, Inc. has a 52 week low of $60.23 and a 52 week high of $102.67.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. The business had revenue of $491.25 million for the quarter, compared to analyst estimates of $480.03 million. Trade Desk had a net margin of 9.80% and a return on equity of 9.41%. As a group, equities research analysts predict that The Trade Desk, Inc. will post 0.85 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.