Panagora Asset Management Inc. Acquires 229,284 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Panagora Asset Management Inc. raised its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 154.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 378,106 shares of the technology company’s stock after buying an additional 229,284 shares during the quarter. Panagora Asset Management Inc.’s holdings in Trade Desk were worth $36,930,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TTD. Global Assets Advisory LLC bought a new position in shares of Trade Desk during the 1st quarter worth approximately $2,626,000. Franklin Resources Inc. boosted its position in Trade Desk by 15.7% in the fourth quarter. Franklin Resources Inc. now owns 393,907 shares of the technology company’s stock worth $28,346,000 after purchasing an additional 53,441 shares during the last quarter. Nordea Investment Management AB grew its stake in Trade Desk by 11.4% in the 1st quarter. Nordea Investment Management AB now owns 683,642 shares of the technology company’s stock valued at $60,202,000 after purchasing an additional 70,201 shares during the period. Nicholas Company Inc. increased its position in shares of Trade Desk by 64.9% during the 4th quarter. Nicholas Company Inc. now owns 776,425 shares of the technology company’s stock valued at $55,872,000 after purchasing an additional 305,615 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp bought a new stake in shares of Trade Desk during the 1st quarter worth $3,011,000. Institutional investors own 67.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TTD shares. Evercore ISI upgraded shares of Trade Desk to a “strong-buy” rating in a research report on Tuesday, August 6th. Macquarie reissued an “outperform” rating and set a $115.00 target price on shares of Trade Desk in a research report on Friday, August 9th. Morgan Stanley lifted their price target on shares of Trade Desk from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. KeyCorp increased their price objective on Trade Desk from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, Jefferies Financial Group upgraded Trade Desk from a “hold” rating to a “buy” rating and boosted their target price for the company from $95.00 to $105.00 in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $107.72.

Trade Desk Trading Up 0.7 %

Shares of Trade Desk stock traded up $0.70 on Friday, hitting $104.21. 1,029,001 shares of the company traded hands, compared to its average volume of 4,064,199. The Trade Desk, Inc. has a 12-month low of $60.23 and a 12-month high of $105.39. The company has a market cap of $50.97 billion, a P/E ratio of 258.78, a P/E/G ratio of 5.27 and a beta of 1.48. The firm’s 50-day simple moving average is $97.01 and its 200 day simple moving average is $90.45.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $578.03 million. During the same quarter last year, the business posted $0.07 earnings per share. The company’s revenue for the quarter was up 25.9% on a year-over-year basis. Analysts predict that The Trade Desk, Inc. will post 0.86 earnings per share for the current year.

Insider Buying and Selling

In other Trade Desk news, CEO Jeffrey Terry Green sold 283,429 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $104.20, for a total transaction of $29,533,301.80. Following the completion of the sale, the chief executive officer now directly owns 380,832 shares in the company, valued at $39,682,694.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Jay R. Grant sold 141,434 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $97.42, for a total transaction of $13,778,500.28. Following the transaction, the insider now owns 188,236 shares in the company, valued at approximately $18,337,951.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey Terry Green sold 283,429 shares of Trade Desk stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $104.20, for a total value of $29,533,301.80. Following the completion of the sale, the chief executive officer now owns 380,832 shares in the company, valued at $39,682,694.40. The disclosure for this sale can be found here. Insiders sold 642,868 shares of company stock worth $65,415,112 in the last quarter. 10.18% of the stock is owned by insiders.

Trade Desk 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.