Burney Co. lessened its position in shares of The Trade Desk, Inc. (NASDAQ:TTD – Free Report) by 1.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 172,622 shares of the technology company’s stock after selling 2,508 shares during the quarter. Burney Co.’s holdings in Trade Desk were worth $13,330,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in shares of Trade Desk by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 684,587 shares of the technology company’s stock worth $52,867,000 after purchasing an additional 11,731 shares during the last quarter. Equitable Trust Co. boosted its holdings in Trade Desk by 1.2% in the second quarter. Equitable Trust Co. now owns 15,488 shares of the technology company’s stock valued at $1,196,000 after purchasing an additional 179 shares during the last quarter. TD Asset Management Inc grew its position in Trade Desk by 2.1% during the 2nd quarter. TD Asset Management Inc now owns 1,377,821 shares of the technology company’s stock worth $106,395,000 after purchasing an additional 28,578 shares during the period. Baltimore Washington Financial Advisors Inc. purchased a new position in shares of Trade Desk during the 2nd quarter valued at about $216,000. Finally, Highland Capital Management LLC acquired a new position in shares of Trade Desk in the 2nd quarter valued at about $1,130,000. 68.23% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms recently commented on TTD. New Street Research raised Trade Desk from a “sell” rating to a “neutral” rating in a report on Thursday, November 2nd. Citigroup lifted their target price on shares of Trade Desk from $86.00 to $96.00 and gave the company a “buy” rating in a report on Thursday, August 10th. UBS Group initiated coverage on shares of Trade Desk in a report on Thursday, September 28th. They set a “buy” rating and a $100.00 price target on the stock. Oppenheimer upped their price objective on shares of Trade Desk from $80.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, August 10th. Finally, Robert W. Baird started coverage on Trade Desk in a research report on Friday, August 18th. They set an “outperform” rating and a $88.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.71.
Insider Activity at Trade Desk
In other news, CFO Laura Schenkein sold 3,219 shares of Trade Desk stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $79.59, for a total transaction of $256,200.21. Following the transaction, the chief financial officer now owns 666,915 shares in the company, valued at approximately $53,079,764.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Laura Schenkein sold 3,219 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $79.59, for a total transaction of $256,200.21. Following the completion of the sale, the chief financial officer now owns 666,915 shares in the company, valued at approximately $53,079,764.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gokul Rajaram sold 2,999 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $73.74, for a total value of $221,146.26. Following the completion of the transaction, the director now owns 51,307 shares in the company, valued at $3,783,378.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 439,401 shares of company stock valued at $35,087,773. 10.81% of the stock is currently owned by insiders.
Trade Desk Stock Up 5.1 %
TTD traded up $3.23 during trading on Tuesday, reaching $66.69. The company’s stock had a trading volume of 3,053,142 shares, compared to its average volume of 4,366,568. The firm has a fifty day simple moving average of $77.76 and a two-hundred day simple moving average of $76.40. The company has a market cap of $32.69 billion, a price-to-earnings ratio of 204.71, a PEG ratio of 5.57 and a beta of 1.68. The Trade Desk, Inc. has a 1 year low of $41.20 and a 1 year high of $91.85.
Trade Desk Company Profile
The Trade Desk, Inc operates as a technology company in the United States and internationally. The company operates 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.
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