The Trade Desk, Inc. (NASDAQ:TTD) Stake Raised by In Depth Partners LLC

In Depth Partners LLC grew its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 2.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 151,630 shares of the technology company’s stock after purchasing an additional 4,057 shares during the period. Trade Desk makes up about 10.4% of In Depth Partners LLC’s holdings, making the stock its 4th largest position. In Depth Partners LLC’s holdings in Trade Desk were worth $13,255,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Pinnacle Bancorp Inc. boosted its position in shares of Trade Desk by 119.9% in the 1st quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock worth $26,000 after buying an additional 163 shares in the last quarter. Riverview Trust Co acquired a new position in Trade Desk in the 1st quarter valued at about $27,000. Bogart Wealth LLC raised its stake in Trade Desk by 194.7% in the 1st quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock valued at $29,000 after purchasing an additional 222 shares during the last quarter. Level Financial Advisors Inc. raised its stake in Trade Desk by 50.0% in the 4th quarter. Level Financial Advisors Inc. now owns 450 shares of the technology company’s stock valued at $32,000 after purchasing an additional 150 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its stake in Trade Desk by 889.4% in the 4th quarter. Jones Financial Companies Lllp now owns 465 shares of the technology company’s stock valued at $33,000 after purchasing an additional 418 shares during the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Trade Desk Price Performance

Shares of TTD stock traded down $2.37 on Tuesday, hitting $89.84. 3,442,072 shares of the stock traded hands, compared to its average volume of 4,118,946. The company has a market capitalization of $43.94 billion, a PE ratio of 224.61, a PEG ratio of 4.73 and a beta of 1.48. The Trade Desk, Inc. has a 1-year low of $60.23 and a 1-year high of $102.67. The company’s fifty day moving average is $96.40 and its 200 day moving average is $86.37.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. Trade Desk had a return on equity of 9.41% and a net margin of 9.80%. The firm had revenue of $491.25 million for the quarter, compared to analyst estimates of $480.03 million. As a group, equities research analysts expect that The Trade Desk, Inc. will post 0.85 EPS for the current year.

Insiders Place Their Bets

In other news, 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 transaction of $4,168,582.90. Following the transaction, the chief financial officer now directly owns 703,038 shares of the company’s stock, valued at $67,055,764.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Gokul Rajaram sold 2,415 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $97.92, for a total transaction of $236,476.80. Following the completion of the transaction, the director now owns 34,056 shares of the company’s stock, valued at $3,334,763.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Laura Schenkein sold 43,705 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now 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. Insiders have sold 213,909 shares of company stock valued at $20,827,601 over the last three months. Company insiders own 10.18% of the company’s stock.

Analyst Upgrades and Downgrades

TTD has been the subject of a number of research analyst reports. Morgan Stanley upped their price objective on shares of Trade Desk from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $110.00 price objective on shares of Trade Desk in a research note on Tuesday, June 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Trade Desk in a research note on Thursday, July 25th. Royal Bank of Canada boosted their target price on Trade Desk from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. Finally, Jefferies Financial Group upgraded Trade Desk from a “hold” rating to a “buy” rating and boosted their target price for the stock from $95.00 to $105.00 in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $101.17.

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.