Malaga Cove Capital LLC Sells 16,687 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Malaga Cove Capital LLC lowered its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 49.2% during the third quarter, Holdings Channel.com reports. The firm owned 17,241 shares of the technology company’s stock after selling 16,687 shares during the quarter. Malaga Cove Capital LLC’s holdings in Trade Desk were worth $1,890,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC raised its stake in Trade Desk by 4.9% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 9,222 shares of the technology company’s stock worth $1,011,000 after purchasing an additional 434 shares in the last quarter. Focused Wealth Management Inc raised its position in shares of Trade Desk by 4.1% in the third quarter. Focused Wealth Management Inc now owns 4,815 shares of the technology company’s stock valued at $528,000 after buying an additional 190 shares in the last quarter. Heritage Investors Management Corp raised its position in shares of Trade Desk by 3.9% in the third quarter. Heritage Investors Management Corp now owns 5,092 shares of the technology company’s stock valued at $558,000 after buying an additional 192 shares in the last quarter. Pittenger & Anderson Inc. boosted its stake in shares of Trade Desk by 4,154.1% in the third quarter. Pittenger & Anderson Inc. now owns 7,870 shares of the technology company’s stock valued at $863,000 after buying an additional 7,685 shares during the period. Finally, James J. Burns & Company LLC acquired a new stake in Trade Desk during the third quarter worth approximately $219,000. 67.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. KeyCorp lifted their price objective on Trade Desk from $115.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Moffett Nathanson began coverage on Trade Desk in a research note on Monday, September 23rd. They issued a “neutral” rating and a $100.00 price target for the company. Stifel Nicolaus increased their price objective on shares of Trade Desk from $111.00 to $136.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Wolfe Research initiated coverage on shares of Trade Desk in a report on Tuesday, July 16th. They issued an “outperform” rating and a $115.00 target price on the stock. Finally, Robert W. Baird upped their price target on shares of Trade Desk from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $115.60.

Trade Desk Stock Up 4.1 %

NASDAQ TTD opened at $124.81 on Thursday. The company has a market capitalization of $61.35 billion, a price-to-earnings ratio of 249.62, a PEG ratio of 5.69 and a beta of 1.47. The Trade Desk, Inc. has a twelve month low of $60.23 and a twelve month high of $124.98. The stock has a fifty day simple moving average of $111.83 and a 200 day simple moving average of $100.45.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 11.40% and a net margin of 11.65%. The business’s quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.07 earnings per share. Research analysts expect that The Trade Desk, Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Activity at Trade Desk

In other news, Director Andrea Lee Cunningham sold 1,606 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Trade Desk news, Director Andrea Lee Cunningham sold 1,606 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $100.07, for a total transaction of $160,712.42. Following the completion of the sale, the director now directly owns 3,516 shares in the company, valued at approximately $351,846.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Laura Schenkein sold 3,130 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $99.33, for a total value of $310,902.90. Following the completion of the transaction, the chief financial officer now directly owns 693,953 shares in the company, valued at $68,930,351.49. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,557,897 shares of company stock worth $170,121,565 over the last ninety days. Insiders own 9.72% of the company’s stock.

Trade Desk Company 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.