Mercer Global Advisors Inc. ADV Decreases Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Mercer Global Advisors Inc. ADV trimmed its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 8.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,308 shares of the technology company’s stock after selling 7,292 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Trade Desk were worth $8,070,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Trade Desk by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock worth $3,003,666,000 after acquiring an additional 818,568 shares during the last quarter. 1832 Asset Management L.P. bought a new stake in Trade Desk during the 1st quarter valued at $225,710,000. Jericho Capital Asset Management L.P. lifted its position 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 acquiring an additional 100,000 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Trade Desk by 10.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,214,832 shares of the technology company’s stock worth $159,379,000 after acquiring an additional 209,222 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Trade Desk by 3.2% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,898,159 shares of the technology company’s stock valued at $165,937,000 after purchasing an additional 59,161 shares during the period. 67.77% of the stock is owned by institutional investors.

Trade Desk Stock Performance

TTD opened at $109.51 on Friday. The stock has a market capitalization of $53.83 billion, a PE ratio of 273.78, a price-to-earnings-growth ratio of 5.07 and a beta of 1.48. The stock’s 50 day moving average price is $98.75 and its 200-day moving average price is $92.92. The Trade Desk, Inc. has a 52-week low of $60.23 and a 52-week high of $111.80.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The business had revenue of $584.55 million for the quarter, compared to the consensus estimate of $578.03 million. During the same period in the previous year, the firm earned $0.07 EPS. The company’s quarterly revenue was up 25.9% compared to the same quarter last year. Research analysts forecast that The Trade Desk, Inc. will post 0.86 EPS for the current fiscal year.

Insider Buying and Selling

In other Trade Desk news, CEO Jeffrey Terry Green sold 283,429 shares of Trade Desk stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $104.20, for a total transaction of $29,533,301.80. Following the sale, the chief executive officer now directly owns 380,832 shares of the company’s stock, valued at approximately $39,682,694.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Jeffrey Terry Green sold 283,429 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $104.20, for a total transaction of $29,533,301.80. Following the sale, the chief executive officer now owns 380,832 shares in the company, valued at approximately $39,682,694.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Samantha Jacobson sold 4,872 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $99.50, for a total transaction of $484,764.00. Following the completion of the sale, the insider now directly owns 99,374 shares in the company, valued at $9,887,713. The disclosure for this sale can be found here. Insiders sold a total of 596,748 shares of company stock valued at $61,010,053 over the last three months. Corporate insiders own 10.18% of the company’s stock.

Wall Street Analyst Weigh In

TTD has been the topic of a number of recent analyst reports. Piper Sandler reissued an “overweight” rating and issued a $110.00 price target on shares of Trade Desk in a report on Tuesday, June 11th. Morgan Stanley boosted their target price on Trade Desk from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. KeyCorp raised their target price on shares of Trade Desk from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. StockNews.com raised shares of Trade Desk from a “hold” rating to a “buy” rating in a research note on Monday, September 16th. Finally, Truist Financial raised their price objective on shares of Trade Desk from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $109.05.

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.