Abundance Wealth Counselors Acquires New Shares in The Trade Desk, Inc. (NASDAQ:TTD)

Abundance Wealth Counselors acquired a new stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) during the second quarter, according to its most recent filing with the SEC. The fund acquired 2,165 shares of the technology company’s stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TTD. Jennison Associates LLC raised its stake in shares of Trade Desk by 91.7% during the 4th quarter. Jennison Associates LLC now owns 14,586,150 shares of the technology company’s stock valued at $1,049,619,000 after purchasing an additional 6,978,352 shares during the period. Norges Bank bought a new stake in shares of Trade Desk during the 4th quarter valued at $255,316,000. 1832 Asset Management L.P. bought a new stake in shares of Trade Desk during the 1st quarter valued at $225,710,000. Vanguard Group Inc. grew its position 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 in the last quarter. Finally, Victory Capital Management Inc. grew its position in Trade Desk by 81.8% during the fourth quarter. Victory Capital Management Inc. now owns 1,465,701 shares of the technology company’s stock worth $105,472,000 after buying an additional 659,337 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, CFO Laura Schenkein sold 43,705 shares of the firm’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 directly owns 703,038 shares of the company’s stock, valued at $67,055,764.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Trade Desk news, CFO Laura Schenkein sold 43,705 shares of the firm’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 directly owns 703,038 shares of the company’s stock, valued at $67,055,764.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $98.37, for a total value of $133,291.35. Following the sale, the director now directly owns 32,701 shares in the company, valued at $3,216,797.37. The disclosure for this sale can be found here. Insiders have sold a total of 213,909 shares of company stock valued at $20,827,601 over the last ninety days. 10.18% of the stock is currently owned by company insiders.

Trade Desk Trading Up 1.8 %

Trade Desk stock traded up $1.81 during trading on Thursday, reaching $100.50. The company had a trading volume of 2,815,486 shares, compared to its average volume of 4,195,960. The Trade Desk, Inc. has a 52 week low of $60.23 and a 52 week high of $102.67. The firm’s 50-day simple moving average is $95.52 and its 200 day simple moving average is $88.01. The firm has a market capitalization of $49.16 billion, a price-to-earnings ratio of 251.26, a price-to-earnings-growth ratio of 5.09 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, August 8th. The technology company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The company had revenue of $584.55 million for the quarter, compared to analysts’ expectations of $578.03 million. During the same period last year, the firm earned $0.07 EPS. Trade Desk’s revenue for the quarter was up 25.9% compared to the same quarter last year. On average, analysts predict that The Trade Desk, Inc. will post 0.85 earnings per share for the current year.

Wall Street Analyst Weigh In

TTD has been the subject of several recent analyst reports. Benchmark boosted their target price on Trade Desk from $49.00 to $57.00 and gave the stock a “sell” rating in a research report on Friday, August 9th. Macquarie reiterated an “outperform” rating and issued a $115.00 price objective on shares of Trade Desk in a report on Friday, August 9th. Jefferies Financial Group upgraded Trade Desk from a “hold” rating to a “buy” rating and increased their target price for the company from $95.00 to $105.00 in a report on Thursday, May 2nd. Morgan Stanley upped their price target on Trade Desk from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $108.00 price target (up previously from $107.00) on shares of Trade Desk in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $107.26.

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.