SouthState Corp Buys New Shares in The Trade Desk, Inc. (NASDAQ:TTD)

SouthState Corp purchased a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD) in the second quarter, according to its most recent filing with the SEC. The firm purchased 2,600 shares of the technology company’s stock, valued at approximately $254,000.

Other hedge funds have also recently made changes to their positions in the company. Mayflower Financial Advisors LLC lifted its position in shares of Trade Desk by 3.2% during the 2nd quarter. Mayflower Financial Advisors LLC now owns 4,187 shares of the technology company’s stock valued at $409,000 after acquiring an additional 129 shares during the period. TD Asset Management Inc increased its stake in Trade Desk by 10.7% in the second quarter. TD Asset Management Inc now owns 1,592,578 shares of the technology company’s stock valued at $155,547,000 after purchasing an additional 153,748 shares in the last quarter. Stablepoint Partners LLC raised its holdings in shares of Trade Desk by 7.8% during the second quarter. Stablepoint Partners LLC now owns 12,377 shares of the technology company’s stock valued at $1,141,000 after purchasing an additional 899 shares during the period. Belpointe Asset Management LLC boosted its position in shares of Trade Desk by 334.2% during the 2nd quarter. Belpointe Asset Management LLC now owns 14,071 shares of the technology company’s stock worth $1,374,000 after purchasing an additional 10,830 shares in the last quarter. Finally, Wealth Effects LLC grew its stake in shares of Trade Desk by 1.9% in the 2nd quarter. Wealth Effects LLC now owns 57,513 shares of the technology company’s stock valued at $5,617,000 after buying an additional 1,075 shares during the period. 67.77% of the stock is owned by institutional investors.

Trade Desk Stock Performance

NASDAQ TTD opened at $103.54 on Friday. The company has a market capitalization of $50.64 billion, a PE ratio of 258.85, a price-to-earnings-growth ratio of 5.30 and a beta of 1.48. The Trade Desk, Inc. has a 52-week low of $60.23 and a 52-week high of $105.39. The company has a 50-day simple moving average of $97.57 and a 200 day simple moving average of $91.35.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.03. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The company had revenue of $584.55 million during the quarter, compared to analyst estimates of $578.03 million. During the same quarter last year, the business posted $0.07 EPS. Trade Desk’s quarterly revenue was up 25.9% compared to the same quarter last year. As a group, analysts forecast that The Trade Desk, Inc. will post 0.86 EPS for the current fiscal year.

Insider Buying and Selling at Trade Desk

In other news, CFO Laura Schenkein sold 43,705 shares of the stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 703,038 shares in the company, valued at approximately $67,055,764.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Laura Schenkein sold 43,705 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $95.38, for a total value of $4,168,582.90. Following the sale, the chief financial officer now 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 accessible through the SEC website. Also, Director Andrea Lee Cunningham sold 1,606 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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 have sold a total of 642,868 shares of company stock worth $65,415,112 over the last ninety days. 10.18% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TTD. Truist Financial upped their price target on Trade Desk from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Stifel Nicolaus reaffirmed a “buy” rating and set a $111.00 target price (up from $105.00) on shares of Trade Desk in a research report on Friday, August 9th. Royal Bank of Canada lifted their price target on shares of Trade Desk from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Robert W. Baird upped their price objective on shares of Trade Desk from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Finally, Bank of America began coverage on shares of Trade Desk in a research note on Wednesday. They issued a “buy” rating and a $135.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $108.85.

About Trade Desk

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.