Alpha Cubed Investments LLC Sells 294 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Alpha Cubed Investments LLC trimmed its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 6.0% during the third quarter, HoldingsChannel.com reports. The fund owned 4,619 shares of the technology company’s stock after selling 294 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Trade Desk were worth $506,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Kesler Norman & Wride LLC bought a new position in shares of Trade Desk in the third quarter valued at approximately $977,000. Fulton Bank N.A. increased its holdings in Trade Desk by 1.9% during the 3rd quarter. Fulton Bank N.A. now owns 18,841 shares of the technology company’s stock valued at $2,066,000 after purchasing an additional 348 shares in the last quarter. Parisi Gray Wealth Management raised its position in Trade Desk by 2.6% in the 3rd quarter. Parisi Gray Wealth Management now owns 4,435 shares of the technology company’s stock valued at $486,000 after purchasing an additional 111 shares during the last quarter. GAMMA Investing LLC boosted its stake in Trade Desk by 16.1% in the third quarter. GAMMA Investing LLC now owns 2,117 shares of the technology company’s stock worth $232,000 after purchasing an additional 293 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of Trade Desk by 1.1% during the third quarter. Handelsbanken Fonder AB now owns 166,358 shares of the technology company’s stock worth $18,241,000 after purchasing an additional 1,883 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 1,355 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $98.37, for a total value of $133,291.35. Following the completion of the transaction, the director now directly owns 32,701 shares of the company’s stock, valued at approximately $3,216,797.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Jeffrey Terry Green sold 200,000 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $112.30, for a total value of $22,460,000.00. Following the sale, the chief executive officer now owns 87,979 shares of the company’s stock, valued at $9,880,041.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $98.37, for a total transaction of $133,291.35. Following the completion of the transaction, the director now directly owns 32,701 shares of the company’s stock, valued at approximately $3,216,797.37. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,452,248 shares of company stock worth $157,894,406 over the last ninety days. Company insiders own 10.18% of the company’s stock.

Trade Desk Price Performance

Shares of Trade Desk stock opened at $114.53 on Wednesday. The Trade Desk, Inc. has a 1 year low of $60.23 and a 1 year high of $114.58. The company has a market capitalization of $56.02 billion, a P/E ratio of 286.33, a price-to-earnings-growth ratio of 5.44 and a beta of 1.48. The business has a 50-day moving average of $102.40 and a two-hundred day moving average of $95.58.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $578.03 million. During the same period in the prior year, the business earned $0.07 EPS. Trade Desk’s revenue for the quarter was up 25.9% compared to the same quarter last year. On average, equities analysts anticipate that The Trade Desk, Inc. will post 0.86 EPS for the current fiscal year.

Analyst Ratings Changes

TTD has been the topic of several research reports. Piper Sandler reiterated an “overweight” rating and set a $110.00 price target on shares of Trade Desk in a research report on Tuesday, June 11th. Truist Financial upped their target price on shares of Trade Desk from $108.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Benchmark raised their price target on shares of Trade Desk from $49.00 to $57.00 and gave the company a “sell” rating in a report on Friday, August 9th. BTIG Research upped their price objective on Trade Desk from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Morgan Stanley lifted their target price on Trade Desk from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $109.89.

Trade Desk Company Profile

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.