SteelPeak Wealth LLC Grows Stake in The Trade Desk, Inc. (NASDAQ:TTD)

SteelPeak Wealth LLC grew its position in The Trade Desk, Inc. (NASDAQ:TTD) by 34.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,895 shares of the technology company’s stock after purchasing an additional 743 shares during the period. SteelPeak Wealth LLC’s holdings in Trade Desk were worth $317,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. 1832 Asset Management L.P. lifted its stake in shares of Trade Desk by 10.5% during the second quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock worth $278,623,000 after buying an additional 270,800 shares during the period. Jericho Capital Asset Management L.P. lifted its stake in shares of Trade Desk by 4.3% during the first quarter. Jericho Capital Asset Management L.P. now owns 2,419,355 shares of the technology company’s stock worth $211,500,000 after buying an additional 100,000 shares during the period. Marshall Wace LLP lifted its position in Trade Desk by 100.2% during the second quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock valued at $170,275,000 after purchasing an additional 872,555 shares during the period. Victory Capital Management Inc. lifted its position in Trade Desk by 12.3% during the second quarter. Victory Capital Management Inc. now owns 1,629,478 shares of the technology company’s stock valued at $159,151,000 after purchasing an additional 177,832 shares during the period. Finally, TD Asset Management Inc lifted its position in Trade Desk by 10.7% during the second quarter. TD Asset Management Inc now owns 1,592,578 shares of the technology company’s stock valued at $155,547,000 after purchasing an additional 153,748 shares during the period. 67.77% of the stock is owned by hedge funds and other institutional investors.

Trade Desk Trading Down 1.5 %

Shares of NASDAQ TTD opened at $120.21 on Friday. The Trade Desk, Inc. has a 12-month low of $60.23 and a 12-month high of $123.85. The stock has a market cap of $59.09 billion, a PE ratio of 240.42, a P/E/G ratio of 5.86 and a beta of 1.48. The company has a 50-day moving average of $110.15 and a 200 day moving average of $99.05.

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 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 during the quarter, compared to analysts’ expectations of $578.03 million. During the same quarter in the prior year, the company earned $0.07 EPS. Trade Desk’s revenue was up 25.9% compared to the same quarter last year. On average, sell-side analysts forecast that The Trade Desk, Inc. will post 0.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Stifel Nicolaus boosted their target price on shares of Trade Desk from $111.00 to $136.00 and gave the company a “buy” rating in a research report on Monday, October 14th. KeyCorp boosted their target price on shares of Trade Desk from $115.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Wells Fargo & Company assumed coverage on shares of Trade Desk in a research report on Monday. They set an “overweight” rating and a $150.00 target price for the company. Morgan Stanley boosted their target price on shares of Trade Desk from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Finally, Bank of America started coverage on shares of Trade Desk in a research report on Wednesday, September 4th. They issued a “buy” rating and a $135.00 price objective for the company. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $115.60.

Insider Activity at Trade Desk

In related news, Director Gokul Rajaram sold 1,355 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $109.00, for a total transaction of $147,695.00. Following the completion of the sale, the director now owns 29,991 shares of the company’s stock, valued at approximately $3,269,019. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $109.00, for a total value of $147,695.00. Following the transaction, the director now directly owns 29,991 shares in the company, valued at $3,269,019. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Andrea Lee Cunningham sold 1,606 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 3,516 shares in the company, valued at $351,846.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,557,897 shares of company stock valued at $170,121,565. Corporate insiders own 9.72% of the company’s stock.

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.