Highland Capital Management LLC Sells 4,212 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Highland Capital Management LLC trimmed its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 16.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,209 shares of the technology company’s stock after selling 4,212 shares during the period. Highland Capital Management LLC’s holdings in Trade Desk were worth $2,071,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. RFP Financial Group LLC raised its holdings in shares of Trade Desk by 26.4% in the 2nd quarter. RFP Financial Group LLC now owns 555 shares of the technology company’s stock valued at $54,000 after purchasing an additional 116 shares during the period. McAdam LLC acquired a new stake in shares of Trade Desk in the second quarter valued at approximately $239,000. EdgeRock Capital LLC bought a new stake in Trade Desk in the 2nd quarter valued at $37,000. Transcendent Capital Group LLC bought a new position in Trade Desk during the second quarter worth $30,000. Finally, Quotient Wealth Partners LLC bought a new position in shares of Trade Desk in the second quarter valued at about $206,000. 67.77% of the stock is owned by institutional investors.

Trade Desk Stock Performance

NASDAQ:TTD traded down $0.09 during mid-day trading on Monday, reaching $104.91. The stock had a trading volume of 84,261 shares, compared to its average volume of 4,104,332. The Trade Desk, Inc. has a one year low of $60.23 and a one year high of $105.39. The firm has a 50 day moving average price of $96.61 and a two-hundred day moving average price of $89.81. The stock has a market capitalization of $51.57 billion, a P/E ratio of 262.78, a P/E/G ratio of 5.23 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. The company had revenue of $584.55 million during the quarter, compared to analysts’ expectations of $578.03 million. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The firm’s revenue was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 EPS. Research analysts forecast that The Trade Desk, Inc. will post 0.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TTD. Loop Capital upped their price target on shares of Trade Desk from $109.00 to $120.00 and gave the company a “buy” rating in a research note on Monday. BMO Capital Markets reissued an “outperform” rating and set a $108.00 price target (up from $107.00) on shares of Trade Desk in a report on Thursday, May 9th. Oppenheimer boosted their target price on shares of Trade Desk from $105.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. DA Davidson increased their price target on shares of Trade Desk from $95.00 to $104.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Finally, Truist Financial upped their target price on Trade Desk from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $107.72.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, CFO Laura Schenkein sold 3,130 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $99.33, for a total transaction of $310,902.90. Following the transaction, the chief financial officer now directly owns 693,953 shares of the company’s stock, valued at approximately $68,930,351.49. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Trade Desk news, CFO Laura Schenkein sold 3,130 shares of Trade Desk stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $99.33, for a total transaction of $310,902.90. Following the sale, the chief financial officer now directly owns 693,953 shares of the company’s stock, valued at approximately $68,930,351.49. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Andrea Lee Cunningham sold 1,606 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $100.07, for a total value of $160,712.42. Following the transaction, the director now owns 3,516 shares in the company, valued at approximately $351,846.12. The disclosure for this sale can be found here. Insiders sold 223,517 shares of company stock valued at $21,783,981 in the last 90 days. Insiders own 10.18% of the company’s stock.

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.