Raymond James & Associates Increases Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Raymond James & Associates grew its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 69.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 421,404 shares of the technology company’s stock after buying an additional 172,451 shares during the quarter. Raymond James & Associates’ holdings in Trade Desk were worth $41,159,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in TTD. Global Assets Advisory LLC purchased a new stake in Trade Desk in the 1st quarter valued at $2,626,000. Franklin Resources Inc. raised its holdings in shares of Trade Desk by 15.7% in the fourth quarter. Franklin Resources Inc. now owns 393,907 shares of the technology company’s stock valued at $28,346,000 after buying an additional 53,441 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Trade Desk by 11.4% in the first quarter. Nordea Investment Management AB now owns 683,642 shares of the technology company’s stock valued at $60,202,000 after buying an additional 70,201 shares during the last quarter. Nicholas Company Inc. boosted its stake in shares of Trade Desk by 64.9% during the fourth quarter. Nicholas Company Inc. now owns 776,425 shares of the technology company’s stock worth $55,872,000 after buying an additional 305,615 shares during the period. Finally, CHURCHILL MANAGEMENT Corp purchased a new position in shares of Trade Desk during the first quarter worth about $3,011,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Stock Up 1.2 %

Shares of TTD stock opened at $102.64 on Tuesday. The stock has a market cap of $50.20 billion, a P/E ratio of 256.61, a P/E/G ratio of 5.01 and a beta of 1.48. The Trade Desk, Inc. has a fifty-two week low of $60.23 and a fifty-two week high of $102.77. The business has a fifty day simple moving average of $95.73 and a 200-day simple moving average of $88.58.

Trade Desk (NASDAQ:TTD) last posted its 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 firm had revenue of $584.55 million during the quarter, compared to the consensus estimate of $578.03 million. During the same period last year, the firm posted $0.07 EPS. The firm’s revenue for the quarter was up 25.9% on a year-over-year basis. On average, sell-side analysts anticipate that The Trade Desk, Inc. will post 0.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TTD shares. KeyCorp increased their price objective on Trade Desk from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Truist Financial increased their price target on Trade Desk from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Macquarie reissued an “outperform” rating and issued a $115.00 price objective on shares of Trade Desk in a research note on Friday, August 9th. Jefferies Financial Group upgraded shares of Trade Desk from a “hold” rating to a “buy” rating and raised their target price for the stock from $95.00 to $105.00 in a research note on Thursday, May 2nd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 target price on shares of Trade Desk in a report on Tuesday, June 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Trade Desk has an average rating of “Moderate Buy” and an average target price of $107.26.

Insider Buying and Selling

In other Trade Desk news, CFO Laura Schenkein sold 43,705 shares of the 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 sale, the chief financial officer now owns 703,038 shares in the company, valued at approximately $67,055,764.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Andrea Lee Cunningham sold 1,606 shares of Trade Desk stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $100.07, for a total transaction of $160,712.42. Following the completion of the sale, the director now directly owns 3,516 shares in the company, valued at $351,846.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Laura Schenkein sold 43,705 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were 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 in the company, valued at approximately $67,055,764.44. The disclosure for this sale can be found here. Insiders sold 223,517 shares of company stock worth $21,783,981 in the last ninety days. Insiders own 10.18% of the company’s stock.

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.