Jump Financial LLC lessened its position in shares of The Trade Desk, Inc. (NASDAQ:TTD – Free Report) by 13.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 22,127 shares of the technology company’s stock after selling 3,319 shares during the quarter. Jump Financial LLC’s holdings in Trade Desk were worth $1,729,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. NBC Securities Inc. acquired a new stake in shares of Trade Desk during the 3rd quarter worth approximately $25,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Trade Desk during the 3rd quarter worth approximately $29,000. MUFG Americas Holdings Corp acquired a new stake in shares of Trade Desk during the 3rd quarter worth approximately $30,000. RFP Financial Group LLC acquired a new stake in shares of Trade Desk during the 2nd quarter worth approximately $32,000. Finally, Credit Agricole S A acquired a new stake in Trade Desk in the 2nd quarter valued at $38,000. Institutional investors and hedge funds own 68.23% of the company’s stock.
Insider Buying and Selling
In related news, Director Gokul Rajaram sold 2,999 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $68.15, for a total value of $204,381.85. Following the sale, the director now directly owns 42,310 shares of the company’s stock, valued at $2,883,426.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Trade Desk news, CFO Laura Schenkein sold 2,613 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $66.48, for a total value of $173,712.24. Following the transaction, the chief financial officer now owns 660,009 shares of the company’s stock, valued at $43,877,398.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 2,999 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $68.15, for a total value of $204,381.85. Following the completion of the transaction, the director now directly owns 42,310 shares in the company, valued at approximately $2,883,426.50. The disclosure for this sale can be found here. Insiders have sold a total of 11,610 shares of company stock valued at $798,404 over the last ninety days. Company insiders own 10.81% of the company’s stock.
Trade Desk Price Performance
Trade Desk (NASDAQ:TTD – Get Free Report) last announced its earnings results on Thursday, November 9th. The technology company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.05). The business had revenue of $493.27 million for the quarter, compared to the consensus estimate of $486.94 million. Trade Desk had a net margin of 8.35% and a return on equity of 7.38%. As a group, sell-side analysts anticipate that The Trade Desk, Inc. will post 0.42 EPS for the current year.
Analysts Set New Price Targets
Several research firms recently issued reports on TTD. BMO Capital Markets began coverage on shares of Trade Desk in a research report on Tuesday, January 9th. They issued an “outperform” rating and a $88.00 price target for the company. Loop Capital began coverage on shares of Trade Desk in a research report on Tuesday, October 24th. They issued a “buy” rating and a $95.00 price target for the company. Stifel Nicolaus lifted their price target on shares of Trade Desk from $79.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. KeyCorp reduced their price target on shares of Trade Desk from $100.00 to $84.00 and set an “overweight” rating for the company in a research report on Friday, November 10th. Finally, Royal Bank of Canada reduced their price target on shares of Trade Desk from $100.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, November 10th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $82.81.
About Trade Desk
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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