The Trade Desk, Inc. (NASDAQ:TTD) Shares Purchased by Ithaka Group LLC

Ithaka Group LLC raised its position in The Trade Desk, Inc. (NASDAQ:TTD) by 52.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 108,052 shares of the technology company’s stock after buying an additional 37,244 shares during the period. Trade Desk comprises about 1.9% of Ithaka Group LLC’s portfolio, making the stock its 23rd largest holding. Ithaka Group LLC’s holdings in Trade Desk were worth $10,553,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Trade Desk during the fourth quarter worth about $255,316,000. 1832 Asset Management L.P. acquired a new position in shares of Trade Desk during the 1st quarter worth approximately $225,710,000. Vanguard Group Inc. boosted its holdings in shares of Trade Desk by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock worth $3,003,666,000 after purchasing an additional 818,568 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of 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 in the last quarter. Finally, Steadfast Capital Management LP increased its holdings in shares of Trade Desk by 78.3% in the first quarter. Steadfast Capital Management LP now owns 983,000 shares of the technology company’s stock valued at $85,934,000 after purchasing an additional 431,600 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Stock Performance

TTD stock opened at $106.06 on Monday. The Trade Desk, Inc. has a one year low of $60.23 and a one year high of $107.64. The company has a fifty day moving average of $97.94 and a 200-day moving average of $92.22. The stock has a market capitalization of $52.14 billion, a PE ratio of 265.16, a price-to-earnings-growth ratio of 5.03 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last released its earnings results on Thursday, August 8th. The technology company reported $0.39 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $578.03 million. During the same quarter last year, the company earned $0.07 earnings per share. Trade Desk’s quarterly revenue was up 25.9% compared to the same quarter last year. Equities analysts forecast that The Trade Desk, Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Transactions at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 283,429 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $104.20, for a total transaction of $29,533,301.80. Following the sale, the chief executive officer now directly owns 380,832 shares of the company’s stock, valued at approximately $39,682,694.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Jeffrey Terry Green sold 283,429 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $104.20, for a total value of $29,533,301.80. Following the sale, the chief executive officer now directly owns 380,832 shares of the company’s stock, valued at $39,682,694.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jay R. Grant sold 141,434 shares of Trade Desk stock in a transaction on Friday, June 28th. The shares were sold at an average price of $97.42, for a total transaction of $13,778,500.28. Following the completion of the transaction, the insider now owns 188,236 shares in the company, valued at approximately $18,337,951.12. The disclosure for this sale can be found here. Insiders sold a total of 599,163 shares of company stock valued at $61,246,529 over the last three months. 10.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Evercore ISI upgraded Trade Desk to a “strong-buy” rating in a report on Tuesday, August 6th. Cantor Fitzgerald initiated coverage on shares of Trade Desk in a research report on Thursday, September 5th. They set a “neutral” rating and a $110.00 price objective for the company. Royal Bank of Canada lifted their target price on shares of Trade Desk from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Robert W. Baird increased their price target on shares of Trade Desk from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. Finally, Morgan Stanley lifted their price target on shares of Trade Desk from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $109.05.

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.