Canal Capital Management LLC Invests $219,000 in The Trade Desk, Inc. (NASDAQ:TTD)

Canal Capital Management LLC bought a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,000 shares of the technology company’s stock, valued at approximately $219,000.

Several other large investors have also recently bought and sold shares of TTD. 1832 Asset Management L.P. acquired a new position in shares of Trade Desk during the 1st quarter worth about $225,710,000. International Assets Investment Management LLC lifted its stake in Trade Desk by 10,856.6% during the third quarter. International Assets Investment Management LLC now owns 1,572,820 shares of the technology company’s stock worth $172,460,000 after purchasing an additional 1,558,465 shares during the last quarter. Marshall Wace LLP boosted its holdings in Trade Desk by 100.2% in the second quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock valued at $170,275,000 after purchasing an additional 872,555 shares in the last quarter. Acadian Asset Management LLC increased its stake in Trade Desk by 3,973.6% in the second quarter. Acadian Asset Management LLC now owns 448,989 shares of the technology company’s stock valued at $43,836,000 after purchasing an additional 437,967 shares during the last quarter. Finally, Steadfast Capital Management LP raised its holdings in Trade Desk by 78.3% during the first quarter. Steadfast Capital Management LP now owns 983,000 shares of the technology company’s stock worth $85,934,000 after purchasing an additional 431,600 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on TTD shares. Moffett Nathanson started coverage on shares of Trade Desk in a research report on Monday, September 23rd. They issued a “neutral” rating and a $100.00 target price on the stock. Loop Capital raised their price objective on Trade Desk from $109.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, August 26th. BTIG Research upped their target price on Trade Desk from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Wolfe Research assumed coverage on Trade Desk in a research report on Tuesday, July 16th. They set an “outperform” rating and a $115.00 price target on the stock. Finally, Wedbush reissued an “outperform” rating and issued a $115.00 price objective (up from $110.00) on shares of Trade Desk in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $112.97.

Insider Transactions at Trade Desk

In other news, CEO Jeffrey Terry Green sold 135,922 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $103.72, for a total transaction of $14,097,829.84. Following the completion of the sale, the chief executive officer now directly owns 664,261 shares in the company, valued at $68,897,150.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $109.00, for a total transaction of $147,695.00. Following the sale, the director now directly owns 29,991 shares in the company, valued at approximately $3,269,019. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 135,922 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $103.72, for a total value of $14,097,829.84. Following the completion of the transaction, the chief executive officer now owns 664,261 shares of the company’s stock, valued at approximately $68,897,150.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,557,897 shares of company stock worth $170,121,565 in the last three months. Company insiders own 10.18% of the company’s stock.

Trade Desk Price Performance

NASDAQ:TTD opened at $119.16 on Friday. The firm has a market cap of $58.28 billion, a PE ratio of 295.53, a P/E/G ratio of 5.73 and a beta of 1.48. The firm has a 50 day simple moving average of $108.72 and a 200-day simple moving average of $98.03. The Trade Desk, Inc. has a 1-year low of $60.23 and a 1-year high of $120.78.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. The company had revenue of $584.55 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.07 EPS. As a group, sell-side analysts expect that The Trade Desk, Inc. will post 0.86 earnings per share for the current fiscal year.

Trade Desk Company 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.