QRG Capital Management Inc. Increases Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

QRG Capital Management Inc. grew its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 15.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 133,655 shares of the technology company’s stock after acquiring an additional 18,285 shares during the quarter. QRG Capital Management Inc.’s holdings in Trade Desk were worth $11,684,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TTD. Jennison Associates LLC boosted its holdings in shares of Trade Desk by 91.7% during the 4th quarter. Jennison Associates LLC now owns 14,586,150 shares of the technology company’s stock valued at $1,049,619,000 after acquiring an additional 6,978,352 shares during the last quarter. Norges Bank purchased a new stake in shares of Trade Desk during the 4th quarter valued at about $255,316,000. ARK Investment Management LLC boosted its holdings in shares of Trade Desk by 1,162.0% during the 4th quarter. ARK Investment Management LLC now owns 2,149,654 shares of the technology company’s stock valued at $154,689,000 after acquiring an additional 1,979,319 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Trade Desk by 6,600.0% during the 4th quarter. International Assets Investment Management LLC now owns 1,091,561 shares of the technology company’s stock valued at $78,549,000 after acquiring an additional 1,075,269 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Trade Desk by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock valued at $3,003,666,000 after acquiring an additional 818,568 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Piper Sandler reissued an “overweight” rating and issued a $110.00 price objective on shares of Trade Desk in a report on Tuesday, June 11th. Stifel Nicolaus raised their price objective on shares of Trade Desk from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Loop Capital raised their price objective on shares of Trade Desk from $102.00 to $109.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. Oppenheimer raised their price objective on shares of Trade Desk from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Royal Bank of Canada raised their price objective on shares of Trade Desk from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $95.08.

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 2,415 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $97.92, for a total value of $236,476.80. Following the sale, the director now owns 34,056 shares in the company, valued at $3,334,763.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Trade Desk news, CEO Jeffrey Terry Green sold 75,000 shares of Trade Desk stock in a transaction on Monday, April 29th. The shares were sold at an average price of $84.47, for a total transaction of $6,335,250.00. Following the completion of the transaction, the chief executive officer now directly owns 824,022 shares of the company’s stock, valued at $69,605,138.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gokul Rajaram sold 2,415 shares of Trade Desk stock in a transaction on Friday, June 21st. The stock was sold at an average price of $97.92, for a total transaction of $236,476.80. Following the transaction, the director now directly owns 34,056 shares of the company’s stock, valued at $3,334,763.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 362,554 shares of company stock worth $33,414,310. Insiders own 10.18% of the company’s stock.

Trade Desk Stock Performance

Shares of Trade Desk stock traded up $0.86 on Tuesday, hitting $100.95. 2,280,987 shares of the company traded hands, compared to its average volume of 4,128,898. The stock has a market capitalization of $49.38 billion, a P/E ratio of 252.53, a price-to-earnings-growth ratio of 5.10 and a beta of 1.48. The Trade Desk, Inc. has a 52 week low of $60.23 and a 52 week high of $102.67. The business has a 50-day simple moving average of $95.46 and a 200 day simple moving average of $84.37.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. Trade Desk had a net margin of 9.80% and a return on equity of 9.41%. The firm had revenue of $491.25 million for the quarter, compared to analysts’ expectations of $480.03 million. Research analysts expect that The Trade Desk, Inc. will post 0.85 earnings per share for the current 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.