Bridges Investment Management Inc. Takes $702,000 Position in The Trade Desk, Inc. (NASDAQ:TTD)

Bridges Investment Management Inc. bought a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,186 shares of the technology company’s stock, valued at approximately $702,000.

Other large investors have also bought and sold shares of the company. Pinnacle Bancorp Inc. raised its position in Trade Desk by 119.9% during the 1st quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock worth $26,000 after purchasing an additional 163 shares during the last quarter. Riverview Trust Co bought a new position in Trade Desk during the 1st quarter worth $27,000. Transcendent Capital Group LLC bought a new position in Trade Desk during the 2nd quarter worth $30,000. Bogart Wealth LLC raised its position in Trade Desk by 194.7% during the 1st quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock worth $29,000 after purchasing an additional 222 shares during the last quarter. Finally, EdgeRock Capital LLC bought a new position in Trade Desk during the 2nd quarter worth $37,000. 67.77% of the stock is owned by institutional investors.

Trade Desk Stock Performance

TTD stock opened at $109.51 on Friday. The company has a market capitalization of $53.56 billion, a P/E ratio of 273.78, a price-to-earnings-growth 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 $111.80. The business has a 50-day simple moving average of $98.75 and a two-hundred day simple moving average of $93.00.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results 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. The business had revenue of $584.55 million during the quarter, compared to the consensus estimate of $578.03 million. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The company’s quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.07 EPS. As a group, sell-side analysts forecast that The Trade Desk, Inc. will post 0.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TTD has been the subject of several analyst reports. Evercore ISI raised Trade Desk to a “strong-buy” rating in a research report on Tuesday, August 6th. BTIG Research increased their price target on Trade Desk from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, August 9th. StockNews.com upgraded Trade Desk from a “hold” rating to a “buy” rating in a report on Monday, September 16th. Benchmark increased their price target on Trade Desk from $49.00 to $57.00 and gave the stock a “sell” rating in a report on Friday, August 9th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $115.00 price target on shares of Trade Desk in a report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $109.05.

Insiders Place Their Bets

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 shares were sold at an average price of $104.20, for a total transaction of $29,533,301.80. Following the transaction, the chief executive officer now 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 available through this link. 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 shares were sold at an average price of $104.20, for a total transaction of $29,533,301.80. Following the transaction, the chief executive officer now 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 available through this link. Also, insider Jay R. Grant sold 141,434 shares of Trade Desk stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $97.42, for a total transaction of $13,778,500.28. Following the transaction, the insider now directly owns 188,236 shares in the company, valued at approximately $18,337,951.12. The disclosure for this sale can be found here. Insiders have sold a total of 596,748 shares of company stock valued at $61,010,053 in the last 90 days. 10.18% of the stock is currently owned by corporate insiders.

Trade Desk Company 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.