Elo Mutual Pension Insurance Co Reduces Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Elo Mutual Pension Insurance Co trimmed its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,014 shares of the technology company’s stock after selling 762 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Trade Desk were worth $3,908,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Norges Bank purchased a new stake in Trade Desk during the fourth quarter valued at approximately $255,316,000. 1832 Asset Management L.P. bought a new stake in Trade Desk in the first quarter worth $225,710,000. Vanguard Group Inc. lifted its position in Trade Desk by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock worth $3,003,666,000 after buying an additional 818,568 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Trade Desk by 3,973.6% during the second quarter. Acadian Asset Management LLC now owns 448,989 shares of the technology company’s stock worth $43,836,000 after buying an additional 437,967 shares during the period. Finally, Steadfast Capital Management LP raised its stake in shares of Trade Desk by 78.3% in the first quarter. Steadfast Capital Management LP now owns 983,000 shares of the technology company’s stock valued at $85,934,000 after acquiring an additional 431,600 shares during the period. Institutional investors own 67.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. BTIG Research lifted their price target on shares of Trade Desk from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. KeyCorp upped their target price on Trade Desk from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Benchmark boosted their price objective on Trade Desk from $49.00 to $57.00 and gave the company a “sell” rating in a report on Friday, August 9th. Bank of America initiated coverage on Trade Desk in a research note on Wednesday, September 4th. They issued a “buy” rating and a $135.00 target price on the stock. Finally, Loop Capital lifted their target price on Trade Desk from $109.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and one has issued 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 $109.05.

Insiders Place Their Bets

In related news, Director Andrea Lee Cunningham sold 1,606 shares of the 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 completion of the transaction, the director now directly owns 3,516 shares of the company’s stock, valued at approximately $351,846.12. 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, CEO Jeffrey Terry Green sold 135,922 shares of Trade Desk stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $103.72, for a total transaction of $14,097,829.84. Following the completion of the sale, the chief executive officer now owns 664,261 shares of the company’s stock, valued at approximately $68,897,150.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Andrea Lee Cunningham sold 1,606 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $100.07, for a total value of $160,712.42. Following the completion of the transaction, the director now directly owns 3,516 shares in the company, valued at $351,846.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 599,163 shares of company stock valued at $61,246,529. 10.18% of the stock is currently owned by corporate insiders.

Trade Desk Stock Up 2.1 %

NASDAQ:TTD opened at $108.02 on Thursday. The stock has a market capitalization of $53.10 billion, a price-to-earnings ratio of 270.06, a PEG ratio of 5.07 and a beta of 1.48. The Trade Desk, Inc. has a 52 week low of $60.23 and a 52 week high of $109.50. The firm has a 50 day moving average of $98.32 and a 200 day moving average of $92.62.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data 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 return on equity of 11.40% and a net margin of 11.65%. The firm had revenue of $584.55 million during the quarter, compared to analyst estimates of $578.03 million. During the same quarter in the prior year, the business posted $0.07 EPS. The business’s revenue for the quarter was up 25.9% compared to the same quarter last year. As a group, analysts expect that The Trade Desk, Inc. will post 0.86 EPS for the current 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.