APG Asset Management N.V. Increases Position in The Trade Desk, Inc. (NASDAQ:TTD)

APG Asset Management N.V. lifted its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 197.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 55,472 shares of the technology company’s stock after buying an additional 36,800 shares during the period. APG Asset Management N.V.’s holdings in Trade Desk were worth $5,055,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. 1832 Asset Management L.P. purchased a new position in shares of Trade Desk in the 1st quarter valued at approximately $225,710,000. Marshall Wace LLP increased 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 during the period. Vanguard Group Inc. raised its position in Trade Desk by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock worth $3,003,666,000 after buying an additional 818,568 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Trade Desk by 3,973.6% in the 2nd quarter. Acadian Asset Management LLC now owns 448,989 shares of the technology company’s stock worth $43,836,000 after acquiring an additional 437,967 shares during the period. Finally, Steadfast Capital Management LP boosted its holdings in shares of Trade Desk by 78.3% in the first quarter. Steadfast Capital Management LP now owns 983,000 shares of the technology company’s stock valued at $85,934,000 after acquiring an additional 431,600 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TTD. Robert W. Baird raised their price objective on shares of Trade Desk from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. StockNews.com downgraded Trade Desk from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Royal Bank of Canada upped their price objective on Trade Desk from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Piper Sandler reaffirmed an “overweight” rating and set a $110.00 price objective on shares of Trade Desk in a report on Tuesday, June 11th. Finally, Bank of America assumed coverage on Trade Desk in a report on Wednesday, September 4th. They set a “buy” rating and a $135.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $109.05.

Trade Desk Stock Up 0.1 %

Shares of NASDAQ:TTD opened at $109.45 on Monday. The Trade Desk, Inc. has a 52-week low of $60.23 and a 52-week high of $112.22. The stock’s fifty day simple moving average is $99.96 and its 200-day simple moving average is $94.09. The company has a market capitalization of $53.80 billion, a P/E ratio of 273.63, a P/E/G ratio of 5.33 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.03. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The business had revenue of $584.55 million for the quarter, compared to the consensus estimate of $578.03 million. During the same period in the prior year, the business earned $0.07 earnings per share. The business’s revenue 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.

Insider Buying and Selling

In related news, CEO Jeffrey Terry Green sold 200,000 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $110.54, for a total transaction of $22,108,000.00. Following the transaction, the chief executive officer now directly owns 365,180 shares in the company, valued at $40,366,997.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Trade Desk news, CFO Laura Schenkein sold 25,000 shares of the company’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $100.43, for a total transaction of $2,510,750.00. Following the completion of the sale, the chief financial officer now directly owns 703,038 shares in the company, valued at $70,606,106.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 200,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $110.54, for a total value of $22,108,000.00. Following the sale, the chief executive officer now owns 365,180 shares of the company’s stock, valued at $40,366,997.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,056,669 shares of company stock worth $113,117,247. 10.18% of the stock is owned by company 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.