Forum Financial Management LP Purchases 1,772 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Forum Financial Management LP boosted its position in The Trade Desk, Inc. (NASDAQ:TTD) by 50.3% during the second quarter, Holdings Channel reports. The fund owned 5,292 shares of the technology company’s stock after acquiring an additional 1,772 shares during the period. Forum Financial Management LP’s holdings in Trade Desk were worth $517,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Assets Advisory LLC bought a new position in shares of Trade Desk during the first quarter valued at about $2,626,000. Franklin Resources Inc. grew its stake in shares of Trade Desk by 15.7% during the fourth quarter. Franklin Resources Inc. now owns 393,907 shares of the technology company’s stock valued at $28,346,000 after buying an additional 53,441 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Trade Desk by 11.4% during the first quarter. Nordea Investment Management AB now owns 683,642 shares of the technology company’s stock valued at $60,202,000 after buying an additional 70,201 shares during the last quarter. Nicholas Company Inc. grew its stake in shares of Trade Desk by 64.9% during the fourth quarter. Nicholas Company Inc. now owns 776,425 shares of the technology company’s stock valued at $55,872,000 after buying an additional 305,615 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp purchased a new stake in shares of Trade Desk during the first quarter worth about $3,011,000. 67.77% of the stock is owned by institutional investors.

Trade Desk Stock Performance

TTD stock opened at $104.53 on Friday. The firm has a 50 day moving average price of $97.15 and a 200-day moving average price of $90.66. The Trade Desk, Inc. has a 52-week low of $60.23 and a 52-week high of $105.39. The firm has a market capitalization of $51.13 billion, a price-to-earnings ratio of 261.33, a PEG ratio of 5.27 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last announced 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 the consensus estimate of $578.03 million. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The firm’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.07 earnings per share. As a group, sell-side analysts forecast that The Trade Desk, Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Activity at Trade Desk

In related news, Director Andrea Lee Cunningham sold 1,606 shares of the firm’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 transaction of $160,712.42. Following the completion of the sale, the director now owns 3,516 shares of the company’s stock, valued at $351,846.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Andrea Lee Cunningham sold 1,606 shares of the firm’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 transaction of $160,712.42. Following the completion of the sale, the director now owns 3,516 shares of the company’s stock, valued at $351,846.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $98.37, for a total transaction of $133,291.35. Following the sale, the director now directly owns 32,701 shares of the company’s stock, valued at approximately $3,216,797.37. The disclosure for this sale can be found here. Insiders sold 642,868 shares of company stock valued at $65,415,112 over the last 90 days. Corporate insiders own 10.18% of the company’s stock.

Wall Street Analyst Weigh In

TTD has been the subject of a number of analyst reports. Macquarie reiterated an “outperform” rating and set a $115.00 target price on shares of Trade Desk in a report on Friday, August 9th. Royal Bank of Canada increased their target price on shares of Trade Desk from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Oppenheimer increased their target price on shares of Trade Desk from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Robert W. Baird increased their target price 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. Finally, Benchmark increased their target price on shares of Trade Desk from $49.00 to $57.00 and gave the stock a “sell” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $107.72.

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.