Kayne Anderson Rudnick Investment Management LLC Has $136.84 Million Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Kayne Anderson Rudnick Investment Management LLC reduced its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 3.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,401,058 shares of the technology company’s stock after selling 48,022 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 0.29% of Trade Desk worth $136,841,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in TTD. Pinnacle Bancorp Inc. raised its stake in Trade Desk by 119.9% during the first quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock worth $26,000 after acquiring an additional 163 shares in the last quarter. Riverview Trust Co acquired a new stake in shares of Trade Desk during the 1st quarter worth about $27,000. Bogart Wealth LLC lifted its holdings in Trade Desk by 194.7% during the 1st quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock valued at $29,000 after purchasing an additional 222 shares during the last quarter. Transcendent Capital Group LLC bought a new position in Trade Desk during the 2nd quarter valued at about $30,000. Finally, Jones Financial Companies Lllp boosted its position in Trade Desk by 889.4% in the fourth quarter. Jones Financial Companies Lllp now owns 465 shares of the technology company’s stock valued at $33,000 after buying an additional 418 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Trade Desk

In related news, CEO Jeffrey Terry Green sold 135,922 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $103.72, for a total transaction of $14,097,829.84. Following the sale, the chief executive officer now directly owns 664,261 shares in the company, valued at $68,897,150.92. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Jeffrey Terry Green sold 135,922 shares of the 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 transaction, the chief executive officer now directly owns 664,261 shares in the company, valued at $68,897,150.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Andrea Lee Cunningham sold 1,606 shares of Trade Desk 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 sale, the director now directly owns 3,516 shares in the company, valued at approximately $351,846.12. The disclosure for this sale can be found here. In the last three months, insiders sold 596,748 shares of company stock worth $61,010,053. 10.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TTD has been the subject of several research analyst reports. Morgan Stanley lifted their price objective on Trade Desk from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Truist Financial lifted their price target on Trade Desk from $105.00 to $108.00 and gave the company a “buy” rating in a report on Friday, August 9th. Macquarie reissued an “outperform” rating and set a $115.00 price objective on shares of Trade Desk in a report on Friday, August 9th. Benchmark raised their price objective on shares of Trade Desk from $49.00 to $57.00 and gave the company a “sell” rating in a research report on Friday, August 9th. Finally, Evercore ISI upgraded shares of Trade Desk to a “strong-buy” rating in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $109.05.

Trade Desk Stock Down 0.6 %

Shares of NASDAQ TTD opened at $109.51 on Friday. The Trade Desk, Inc. has a twelve month low of $60.23 and a twelve month high of $111.80. The stock has a market cap of $53.83 billion, a price-to-earnings ratio of 273.78, a P/E/G ratio of 5.07 and a beta of 1.48. The company’s fifty day moving average is $98.75 and its 200-day moving average is $92.92.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $578.03 million. During the same period in the previous year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was up 25.9% on a year-over-year basis. On average, research analysts anticipate that The Trade Desk, Inc. will post 0.86 EPS for the current fiscal year.

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.