Janney Montgomery Scott LLC Grows Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Janney Montgomery Scott LLC grew its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 1.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 172,203 shares of the technology company’s stock after buying an additional 2,307 shares during the period. Janney Montgomery Scott LLC’s holdings in Trade Desk were worth $18,882,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TTD. 1832 Asset Management L.P. lifted its holdings in Trade Desk by 10.5% during the second quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock valued at $278,623,000 after purchasing an additional 270,800 shares during the last quarter. Jericho Capital Asset Management L.P. boosted its holdings in Trade Desk by 4.3% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 2,419,355 shares of the technology company’s stock worth $211,500,000 after buying an additional 100,000 shares during the period. Marshall Wace LLP grew its stake in Trade Desk by 100.2% in the 2nd quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock valued at $170,275,000 after buying an additional 872,555 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Trade Desk by 12.3% during the 2nd quarter. Victory Capital Management Inc. now owns 1,629,478 shares of the technology company’s stock valued at $159,151,000 after acquiring an additional 177,832 shares during the period. Finally, TD Asset Management Inc lifted its position in shares of Trade Desk by 10.7% during the second quarter. TD Asset Management Inc now owns 1,592,578 shares of the technology company’s stock worth $155,547,000 after acquiring an additional 153,748 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Performance

Shares of TTD stock opened at $119.94 on Wednesday. The Trade Desk, Inc. has a fifty-two week low of $60.23 and a fifty-two week high of $123.85. The firm has a market cap of $58.96 billion, a P/E ratio of 239.88, a P/E/G ratio of 5.73 and a beta of 1.47. The business’s 50 day moving average price is $111.38 and its 200-day moving average price is $100.28.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.03. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The business had revenue of $584.55 million for the quarter, compared to analysts’ expectations of $578.03 million. During the same quarter in the previous year, the business posted $0.07 earnings per share. The firm’s revenue for the quarter was up 25.9% compared to the same quarter last year. As a group, equities analysts predict that The Trade Desk, Inc. will post 0.86 EPS for the current year.

Insider Buying and Selling

In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $117.89, for a total transaction of $159,740.95. Following the transaction, the director now owns 28,636 shares in the company, valued at approximately $3,375,898.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Trade Desk news, CFO Laura Schenkein sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $115.43, for a total transaction of $2,885,750.00. Following the completion of the transaction, the chief financial officer now owns 693,953 shares of the company’s stock, valued at approximately $80,102,994.79. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $117.89, for a total transaction of $159,740.95. Following the transaction, the director now owns 28,636 shares of the company’s stock, valued at $3,375,898.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,557,897 shares of company stock valued at $170,121,565 over the last three months. Corporate insiders own 9.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Truist Financial boosted their price objective on Trade Desk from $108.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Benchmark raised their price objective on shares of Trade Desk from $49.00 to $57.00 and gave the company a “sell” rating in a research report on Friday, August 9th. Royal Bank of Canada upped their target price on shares of Trade Desk from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. New Street Research downgraded shares of Trade Desk from a “neutral” rating to a “sell” rating and set a $86.00 price target for the company. in a report on Tuesday, October 29th. Finally, StockNews.com raised shares of Trade Desk from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Trade Desk has a consensus rating of “Moderate Buy” and an average target price of $115.60.

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.