Ballentine Partners LLC Sells 422 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Ballentine Partners LLC reduced its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 11.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,183 shares of the technology company’s stock after selling 422 shares during the period. Ballentine Partners LLC’s holdings in Trade Desk were worth $278,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TTD. Vanguard Group Inc. lifted its stake in shares of Trade Desk by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock valued at $3,003,666,000 after buying an additional 818,568 shares during the period. Jennison Associates LLC lifted its position in shares of Trade Desk by 91.7% in the 4th quarter. Jennison Associates LLC now owns 14,586,150 shares of the technology company’s stock worth $1,049,619,000 after acquiring an additional 6,978,352 shares during the period. Norges Bank acquired a new stake in shares of Trade Desk during the 4th quarter worth approximately $255,316,000. Goldman Sachs Group Inc. increased its position in shares of Trade Desk by 10.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,214,832 shares of the technology company’s stock valued at $159,379,000 after purchasing an additional 209,222 shares during the period. Finally, ARK Investment Management LLC raised its stake in shares of Trade Desk by 1,162.0% in the fourth quarter. ARK Investment Management LLC now owns 2,149,654 shares of the technology company’s stock valued at $154,689,000 after purchasing an additional 1,979,319 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TTD shares. Jefferies Financial Group raised shares of Trade Desk from a “hold” rating to a “buy” rating and boosted their price target for the company from $95.00 to $105.00 in a report on Thursday, May 2nd. Royal Bank of Canada increased their price target on shares of Trade Desk from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Wedbush initiated coverage on Trade Desk in a report on Monday, June 17th. They set an “outperform” rating and a $110.00 price objective on the stock. Citigroup increased their target price on Trade Desk from $110.00 to $112.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Finally, Loop Capital boosted their price target on Trade Desk from $102.00 to $109.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $93.69.

Insider Activity

In other news, CEO Jeffrey Terry Green sold 66,007 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $87.38, for a total transaction of $5,767,691.66. Following the sale, the chief executive officer now owns 1,051,622 shares of the company’s stock, valued at $91,890,730.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Jeffrey Terry Green sold 66,007 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $87.38, for a total transaction of $5,767,691.66. Following the completion of the transaction, the chief executive officer now directly owns 1,051,622 shares of the company’s stock, valued at $91,890,730.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gokul Rajaram sold 2,415 shares of Trade Desk stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $97.92, for a total value of $236,476.80. Following the completion of the sale, the director now directly owns 34,056 shares in the company, valued at approximately $3,334,763.52. The disclosure for this sale can be found here. Insiders sold 264,727 shares of company stock valued at $23,117,417 in the last quarter. Company insiders own 10.18% of the company’s stock.

Trade Desk Stock Performance

Shares of Trade Desk stock opened at $97.73 on Wednesday. The firm has a fifty day moving average of $91.11 and a two-hundred day moving average of $81.93. The stock has a market capitalization of $47.80 billion, a price-to-earnings ratio of 244.33, a PEG ratio of 4.90 and a beta of 1.49. The Trade Desk, Inc. has a 52 week low of $60.23 and a 52 week high of $99.54.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The firm had revenue of $491.25 million for the quarter, compared to analysts’ expectations of $480.03 million. Trade Desk had a return on equity of 9.41% and a net margin of 9.80%. As a group, research analysts forecast that The Trade Desk, Inc. will post 0.85 EPS for the current fiscal year.

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.