Wealth Effects LLC Increases Position in The Trade Desk, Inc. (NASDAQ:TTD)

Wealth Effects LLC increased its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,513 shares of the technology company’s stock after buying an additional 1,075 shares during the period. Trade Desk accounts for 2.0% of Wealth Effects LLC’s portfolio, making the stock its 10th largest position. Wealth Effects LLC’s holdings in Trade Desk were worth $5,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Pinnacle Bancorp Inc. grew its position in Trade Desk by 119.9% during the 1st quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock valued at $26,000 after purchasing an additional 163 shares during the last quarter. Riverview Trust Co purchased a new position in shares of Trade Desk in the first quarter worth $27,000. Bogart Wealth LLC lifted its holdings in shares of Trade Desk by 194.7% during the first quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock valued at $29,000 after purchasing an additional 222 shares in the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of Trade Desk during the second quarter valued at $30,000. Finally, Jones Financial Companies Lllp boosted its position in shares of Trade Desk by 889.4% during the fourth quarter. Jones Financial Companies Lllp now owns 465 shares of the technology company’s stock valued at $33,000 after buying an additional 418 shares during the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Trade Desk Stock Up 1.6 %

Shares of NASDAQ:TTD traded up $1.59 during trading on Wednesday, hitting $102.56. The stock had a trading volume of 294,254 shares, compared to its average volume of 4,040,917. The Trade Desk, Inc. has a 12-month low of $60.23 and a 12-month high of $105.39. The stock has a market capitalization of $50.16 billion, a price-to-earnings ratio of 252.43, a price-to-earnings-growth ratio of 5.30 and a beta of 1.48. The stock has a 50-day simple moving average of $97.39 and a two-hundred day simple moving average of $91.19.

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

Insider Activity

In other news, CEO Jeffrey Terry Green sold 283,429 shares of Trade Desk stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $104.20, for a total value of $29,533,301.80. Following the sale, the chief executive officer now owns 380,832 shares in the company, valued at $39,682,694.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Jeffrey Terry Green sold 283,429 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $104.20, for a total transaction of $29,533,301.80. Following the transaction, the chief executive officer now directly owns 380,832 shares in the company, valued at approximately $39,682,694.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Samantha Jacobson sold 4,872 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $99.50, for a total value of $484,764.00. Following the completion of the sale, the insider now directly owns 99,374 shares of the company’s stock, valued at approximately $9,887,713. The disclosure for this sale can be found here. Insiders have sold 642,868 shares of company stock worth $65,415,112 in the last ninety days. Company insiders own 10.18% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TTD. Oppenheimer raised their price target on Trade Desk from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Bank of America started coverage on shares of Trade Desk in a research report on Wednesday. They issued a “buy” rating and a $135.00 price target on the stock. Susquehanna boosted their price objective on shares of Trade Desk from $110.00 to $135.00 and gave the company a “positive” rating in a research report on Friday, August 9th. Macquarie reissued an “outperform” rating and set a $115.00 price target on shares of Trade Desk in a report on Friday, August 9th. Finally, Benchmark raised their price objective on Trade Desk from $49.00 to $57.00 and gave the stock a “sell” rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $108.81.

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.