Rhumbline Advisers Lowers Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Rhumbline Advisers trimmed its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 3.6% during the second quarter, Holdings Channel.com reports. The fund owned 611,646 shares of the technology company’s stock after selling 23,090 shares during the period. Rhumbline Advisers’ holdings in Trade Desk were worth $59,739,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Apella Capital LLC grew its stake in shares of Trade Desk by 1.9% in the second quarter. Apella Capital LLC now owns 5,384 shares of the technology company’s stock valued at $547,000 after buying an additional 100 shares in the last quarter. RFP Financial Group LLC grew its stake in shares of Trade Desk by 26.4% in the second quarter. RFP Financial Group LLC now owns 555 shares of the technology company’s stock worth $54,000 after acquiring an additional 116 shares in the last quarter. Diversify Advisory Services LLC increased its position in shares of Trade Desk by 4.5% during the second quarter. Diversify Advisory Services LLC now owns 2,924 shares of the technology company’s stock worth $297,000 after acquiring an additional 127 shares during the period. Brookstone Capital Management raised its stake in shares of Trade Desk by 3.0% in the second quarter. Brookstone Capital Management now owns 4,612 shares of the technology company’s stock valued at $439,000 after acquiring an additional 135 shares in the last quarter. Finally, Csenge Advisory Group boosted its holdings in Trade Desk by 1.8% in the first quarter. Csenge Advisory Group now owns 7,869 shares of the technology company’s stock valued at $688,000 after purchasing an additional 141 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TTD has been the topic of a number of analyst reports. Bank of America initiated coverage on Trade Desk in a research report on Wednesday. They issued a “buy” rating and a $135.00 price target on the stock. Susquehanna boosted their price target on shares of Trade Desk from $110.00 to $135.00 and gave the stock a “positive” rating in a report on Friday, August 9th. DA Davidson lifted their price objective on shares of Trade Desk from $95.00 to $104.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Oppenheimer increased their target price on Trade Desk from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Finally, Royal Bank of Canada lifted their price target on Trade Desk from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Trade Desk presently has an average rating of “Moderate Buy” and a consensus target price of $108.81.

Insiders Place Their Bets

In related news, CEO Jeffrey Terry Green sold 283,429 shares of Trade Desk stock in a transaction that occurred on Monday, August 26th. The stock was 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 in the company, valued at $39,682,694.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CFO Laura Schenkein sold 43,705 shares of Trade Desk 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 completion of the sale, the chief financial officer now directly owns 703,038 shares in the company, valued at approximately $67,055,764.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jeffrey Terry Green sold 283,429 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was 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 in the company, valued at approximately $39,682,694.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 642,868 shares of company stock worth $65,415,112. Company insiders own 10.18% of the company’s stock.

Trade Desk Price Performance

NASDAQ:TTD opened at $101.35 on Thursday. The firm has a market cap of $49.57 billion, a price-to-earnings ratio of 253.38, a price-to-earnings-growth ratio of 5.30 and a beta of 1.48. The firm’s fifty day moving average price is $97.46 and its 200 day moving average price is $91.26. The Trade Desk, Inc. has a 1-year low of $60.23 and a 1-year high of $105.39.

Trade Desk (NASDAQ:TTD) last issued 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. The business had revenue of $584.55 million for the quarter, compared to the consensus estimate of $578.03 million. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The business’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.07 earnings per share. As a group, analysts expect that The Trade Desk, Inc. will post 0.86 earnings per share for the current fiscal year.

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.