Edgestream Partners L.P. Buys 4,895 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Edgestream Partners L.P. grew its position in The Trade Desk, Inc. (NASDAQ:TTD) by 130.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 8,636 shares of the technology company’s stock after buying an additional 4,895 shares during the period. Edgestream Partners L.P.’s holdings in Trade Desk were worth $843,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Pinnacle Bancorp Inc. lifted its holdings in Trade Desk by 119.9% in the first quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock valued at $26,000 after buying an additional 163 shares during the period. Riverview Trust Co bought a new position in shares of Trade Desk in the 1st quarter worth $27,000. Bogart Wealth LLC grew its stake in shares of Trade Desk by 194.7% during the first 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 period. Transcendent Capital Group LLC acquired a new stake in shares of Trade Desk during the second quarter worth $30,000. Finally, Jones Financial Companies Lllp increased its holdings 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 purchasing an additional 418 shares during the last quarter. Institutional investors own 67.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Evercore ISI upgraded Trade Desk to a “strong-buy” rating in a research report on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 target price on shares of Trade Desk in a research note on Wednesday, September 11th. Citigroup lifted their price target on shares of Trade Desk from $112.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Robert W. Baird upped their price objective on shares of Trade Desk from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Finally, Wolfe Research started coverage on Trade Desk in a report on Tuesday, July 16th. They set an “outperform” rating and a $115.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $109.05.

Trade Desk Price Performance

Trade Desk stock opened at $109.51 on Friday. The company has a market cap of $53.56 billion, a price-to-earnings ratio of 273.78, a P/E/G ratio of 5.07 and a beta of 1.48. The firm has a 50-day moving average of $98.75 and a 200-day moving average of $93.00. The Trade Desk, Inc. has a one year low of $60.23 and a one year high of $111.80.

Trade Desk (NASDAQ:TTD) last released its earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $578.03 million. During the same period last year, the business earned $0.07 earnings per share. The firm’s revenue was up 25.9% on a year-over-year basis. As a group, sell-side analysts expect that The Trade Desk, Inc. will post 0.86 earnings per share for the current year.

Insider Transactions at Trade Desk

In related news, insider Jay R. Grant sold 141,434 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $97.42, for a total value of $13,778,500.28. Following the completion of the sale, the insider now directly owns 188,236 shares in the company, valued at approximately $18,337,951.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Jay R. Grant sold 141,434 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $97.42, for a total value of $13,778,500.28. Following the sale, the insider now owns 188,236 shares in the company, valued at approximately $18,337,951.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $98.37, for a total transaction of $133,291.35. Following the transaction, the director now directly owns 32,701 shares of the company’s stock, valued at $3,216,797.37. The disclosure for this sale can be found here. Insiders have sold 596,748 shares of company stock worth $61,010,053 in the last ninety days. Insiders own 10.18% of the company’s stock.

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.