Sterling Investment Advisors Ltd. Decreases Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Sterling Investment Advisors Ltd. lowered its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 2.5% in the 2nd quarter, Holdings Channel reports. The firm owned 51,675 shares of the technology company’s stock after selling 1,325 shares during the period. Trade Desk accounts for 1.4% of Sterling Investment Advisors Ltd.’s portfolio, making the stock its 21st biggest holding. Sterling Investment Advisors Ltd.’s holdings in Trade Desk were worth $5,047,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TTD. Kestra Private Wealth Services LLC increased its position in Trade Desk by 8.5% during the fourth quarter. Kestra Private Wealth Services LLC now owns 3,093 shares of the technology company’s stock valued at $223,000 after acquiring an additional 242 shares during the last quarter. Fisher Asset Management LLC purchased a new stake in Trade Desk during the fourth quarter valued at $307,000. Los Angeles Capital Management LLC increased its position in Trade Desk by 212.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 16,906 shares of the technology company’s stock valued at $1,217,000 after acquiring an additional 11,494 shares during the last quarter. Amalgamated Bank increased its position in Trade Desk by 2.0% during the fourth quarter. Amalgamated Bank now owns 47,191 shares of the technology company’s stock valued at $3,396,000 after acquiring an additional 939 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC bought a new stake in Trade Desk during the fourth quarter valued at about $207,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Up 2.2 %

Shares of NASDAQ:TTD opened at $103.54 on Friday. The Trade Desk, Inc. has a 52-week low of $60.23 and a 52-week high of $105.39. The stock has a market cap of $50.64 billion, a P/E ratio of 258.85, a price-to-earnings-growth ratio of 5.30 and a beta of 1.48. The business’s 50 day moving average is $97.57 and its 200 day moving average is $91.35.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.03. The business had revenue of $584.55 million for the quarter, compared to analysts’ expectations of $578.03 million. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The business’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 EPS. On average, sell-side analysts anticipate that The Trade Desk, Inc. will post 0.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TTD. Susquehanna boosted their price target on Trade Desk from $110.00 to $135.00 and gave the company a “positive” rating in a report on Friday, August 9th. Morgan Stanley boosted their price target on Trade Desk from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Stifel Nicolaus reissued a “buy” rating and set a $111.00 price target (up previously from $105.00) on shares of Trade Desk in a report on Friday, August 9th. Evercore ISI raised Trade Desk to a “strong-buy” rating in a report on Tuesday, August 6th. Finally, Loop Capital boosted their price target on Trade Desk from $109.00 to $120.00 and gave the company a “buy” rating in a report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Trade Desk presently has an average rating of “Moderate Buy” and a consensus target price of $108.85.

Insider Buying and Selling at Trade Desk

In other Trade Desk 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 sale, the chief financial officer now owns 703,038 shares of the company’s stock, valued at approximately $67,055,764.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Gokul Rajaram sold 2,415 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $97.92, for a total value of $236,476.80. Following the completion of the sale, the director now owns 34,056 shares of the company’s stock, valued at approximately $3,334,763.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Laura Schenkein sold 43,705 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $95.38, for a total value of $4,168,582.90. Following the completion of the sale, the chief financial officer now directly owns 703,038 shares of the company’s stock, valued at approximately $67,055,764.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 642,868 shares of company stock valued at $65,415,112. 10.18% of the stock is currently owned by corporate insiders.

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.