The Trade Desk, Inc. (NASDAQ:TTD) Stake Raised by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 3.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,898,159 shares of the technology company’s stock after purchasing an additional 59,161 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.39% of Trade Desk worth $165,937,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Pinnacle Bancorp Inc. increased its position in shares of Trade Desk by 119.9% in the first quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock worth $26,000 after acquiring an additional 163 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of Trade Desk in the first quarter valued at $27,000. Level Financial Advisors Inc. boosted its position in shares of Trade Desk by 50.0% in the fourth quarter. Level Financial Advisors Inc. now owns 450 shares of the technology company’s stock worth $32,000 after buying an additional 150 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of Trade Desk by 889.4% during the fourth quarter. Jones Financial Companies Lllp now owns 465 shares of the technology company’s stock valued at $33,000 after buying an additional 418 shares in the last quarter. Finally, Ancora Advisors LLC raised its position in Trade Desk by 56.5% during the third quarter. Ancora Advisors LLC now owns 485 shares of the technology company’s stock valued at $38,000 after buying an additional 175 shares during the period. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Stock Performance

Shares of TTD stock traded up $1.27 during mid-day trading on Wednesday, reaching $99.61. The company’s stock had a trading volume of 700,085 shares, compared to its average volume of 4,182,823. The firm’s 50-day moving average is $92.96 and its two-hundred day moving average is $82.79. The Trade Desk, Inc. has a 1-year low of $60.23 and a 1-year high of $100.10. The company has a market cap of $48.72 billion, a P/E ratio of 245.86, a PEG ratio of 5.00 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. Trade Desk had a net margin of 9.80% and a return on equity of 9.41%. The firm had revenue of $491.25 million during the quarter, compared to analysts’ expectations of $480.03 million. Sell-side analysts anticipate that The Trade Desk, Inc. will post 0.85 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on TTD. Citigroup lifted their target price on Trade Desk from $110.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Truist Financial restated a “buy” rating and set a $105.00 price target on shares of Trade Desk in a report on Thursday, May 16th. DA Davidson increased their price objective on Trade Desk from $95.00 to $104.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Royal Bank of Canada boosted their target price on Trade Desk from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $110.00 target price on shares of Trade Desk in a research report on Thursday, May 16th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.69.

Insiders Place Their Bets

In other Trade Desk news, insider Jay R. Grant sold 141,434 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $97.42, for a total value of $13,778,500.28. Following the transaction, the insider now directly owns 188,236 shares in the company, valued at $18,337,951.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Jay R. Grant sold 141,434 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $97.42, for a total value of $13,778,500.28. Following the completion of the sale, the insider now directly owns 188,236 shares in the company, valued at $18,337,951.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jeffrey Terry Green sold 2,600 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $86.41, for a total transaction of $224,666.00. Following the sale, the chief executive officer now directly owns 974,022 shares in the company, valued at approximately $84,165,241.02. The disclosure for this sale can be found here. Insiders sold 340,154 shares of company stock worth $31,128,226 over the last three months. 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.